" MFS has been fortunate to avoid layoffs since the market decline began in 2000, as net flows to the firm have remained positive by over $40 billion," the firm said in a statement.
CEO Brian Moynihan said the firm recruited twice the number of advisors it did a year ago and is making progress fighting advisor attrition.
Behavioral finance expert Tim Maurer shares how planners can adjust their language and approach to help clients move toward their goals.
Chief Financial Officer Sharon Yeshaya says financial advisors have $400 billion in assets since 2020 from clients who first came to Morgan Stanley either through its workplace or E-Trade businesses.
For advisors with $600,000 in annual production, regional firms like Janney and RBC have been reducing their compensation in recent years. They're now more in line with the pay policies more commonly found at large Wall Street firms.
In the first quarter, the firm's FiNet channel for advisors working as independent contractors recruited advisors with $9 billion in client assets.
Top executive Jane Fraser dismisses speculation Citi wants to buy a U.S. retail bank while touting surging revenues for the megabank's wealth unit and the firm as a whole.
