Firms like Fidelity and Vanguard naturally have an easier time at developing their brand names because they can throw huge amounts of money at advertising and marketing campaigns. It doesn't matter that a firm like Fidelity offers a variety of products and services because they advertise so extensively, Dettore said. Still, when an investor thinks of Fidelity, does one brand or logo come to mind? Probably not, he said. "I think there's a lot of confusion," he said.
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Terri Kallsen will precede him next year as chair of the Board of Directors; Seay will take over that role in 2027.
8h ago -
The popular industry recruiting and retention barometer provided another window into the challenges facing LPL Financial with its latest major acquisition.
10h ago -
The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.
10h ago -
But the Bank of America subsidiaries nonetheless reported rises in AUM and net revenue in the second quarter while adding thousands of new client relationships.
11h ago -
The accusations led to the end of 16 years at the firm.
July 15 -
In an earnings call Tuesday, CEO Charlie Scharf credited brokers in the firm's branches for working with consumer bankers for a 10% increase in new assets.
July 15