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Unpopular compensation changes at UBS continue to drive advisor attrition, costing the firm billions in client assets. But despite the outflows, executives say the new policy is helping improve UBS' profits.
October 29
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The choice of buyer and the price get the most attention, but a possible merger of equals and the technology side of the transition could loom large in the strategy.
October 27
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Wells Fargo also pulls from Merrill and Raymond James again from Commonwealth, while AlphaCore buys up a big RIA and the FPA gets a new CEO.
October 24
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The challenge bedevils many heirs' property owners. Here's why experts say it's such a threat and how financial professionals can help guide families through it.
October 23
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The independent broker-dealer has done especially well recruiting Commonwealth advisors since that firm's acquisition by LPL Financial.
October 23
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Industry compliance experts say there are few more complicated decisions than knowing when to leave a firm and start your own advisory practice. The government shutdown is making it worse.
October 22
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Despite a slowdown in advisor recruitment from the first half of the year, Stifel managed to achieve record revenue for the third quarter.
October 22
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Dynasty Financial Partners' investment bank joins Diamond Consultants to help departing teams vet transition options, whether that's joining another wirehouse, selling to an RIA aggregator or starting their own business.
October 21
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The wirehouse leaves its basic paygrid untouched for the fifth year in a row while giving advisors extra incentives to tout banking products and work with existing clients' children and grandchildren.
October 20
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The awards recognize early-career brokers that have created top production numbers at their wealth management firms.
October 20
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Janney also adds teams from Morgan Stanley and UBS, while LPL Financial picks up advisors from Janney for its direct employee channel.
October 17
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JPMorgan Chase's absorption of First Republic after the 2023 regional banking crisis has finally dealt its last blow to the giant custodian's asset flows.
October 16
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Along with bringing in new households and assets, the Bank of America wealth management units are turning to loans, alternative assets and other offerings to do more with existing clients.
October 15
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The largest wirehouse also reported a record quarter for wealth management revenues built on strong asset inflows in the third quarter.
October 15
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Also remarkable: the size of the teams that are leaving and the types of firms benefiting from the defections, a new report from Diamond Consultants finds.
October 14
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After a steep decline last quarter, Citi's wealth division rebounded in the third quarter with a record level of net new investment assets.
October 14
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Wells Fargo CEO Charlie Scharf also points to investments into the firm's independent channel as helping to retain advisors and curtail departures to other firms.
October 14 -
Though advisors keep heading for the door following the sale of Commonwealth, industry analysts believe LPL Financial can still hit its post-purchase goals for retaining assets and headcount.
October 9
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The purchase comes as Creative Planning seeks to build out its expertise in managing retirement plans.
October 9
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With deals like Cetera's purchase of Avantax, Morgan Stanley's of Parametric and JPMorgan's of 55ip, big firms are increasingly able to answer high net worth clients' tax questions without having to send them to outside professionals.
October 8
