Revenue rose nearly 7% to $12.3 billion, up from $11.5 billion the year before. And assets under management rose 6% to nearly $1.6 trillion, primarily due to the S&P 500’s 15% gain in 2010. Total assets under administration rose 8% to $3.5 trillion.
Fidelity also limited its expense growth to 4% last year, keeping its workforce steady at 37,000 in 2010. However, it is down 19.5% from a peak of 46,000 in 2007.
Three advisory teams managing $10 billion in the San Francisco area are among an ongoing wave of departures from the biggest U.S. bank.
Experts say that busy entrepreneurs often miss incentives and advantages available to them. Financial advisors and tax professionals can give them a nudge.
The CEO of the RIA "roll-up" outfit thinks that ongoing industry consolidation doesn't necessarily mean all firms will start to look the same.
As ESG investments face political backlash, here's how financial advisors are talking to clients about impact investing.
An industry recruiter said the Bank of America subsidiary has become almost "unhinged" with the amount of money it's willing to offer advisors it's recruiting.
After a decade-long effort by holders of the personal financial specialist credential, aspiring candidates can be tested on investments, retirement plans and other areas.
