Industry

“[A] segment of wealth managers appear to live in denial, clinging to investment methodologies that have patently failed twice over the past decade and are likely to fall short again,” the authors of a white paper accompanying the survey results wrote.

“We always have an opinion,” said James Odorczuk. “That’s what clients want. You can’t just ‘set it and forget it.’ A lot of clients are unhappy with a passive investment style.”

MountainView Securities, a broker/dealer focused on the fixed income markets, has hired Amber Lindsay as Managing Director of Fixed Income Sales.

The New York City based wealth advisory firm appointed Lyle LaMothe as Non-Executive Chairman of the board and Greg Franks as a managing partner and president. Chris Lappas joined the firm as the chief operating officer.

Ben Johnson, who has led Morningstar’s passive fund research in Europe and Asia, has been named director of passive fund research globally.

Woodbury Financial brings approximately 1,400 advisors and $25 billion in assets under management to the group’s network, which includes FSC Securities Corp., Royal Alliance Associates and SagePoint Financial.

Ronald Greenidge, the former UBS AG managing director fired for gross misconduct in his supervision of convicted trader Kweku Adoboli, sued the bank claiming it treated him more harshly than others because he’s black.

Gathering the information needed to make a career move and hiding that research from a current firm can be enough to make some advisors decide to forget it. That’s just where The Advisor Center, an anonymous online recruiting community that launches Monday, comes into play.

The average production at wirehouses is 40% higher than that of banks, and yet those advisors don't have an existing customer base. Why is that?

The importance of FA training finds general consensus, but there is disagreement on details like the best delivery method or even what constitutes training