In the latest move of its kind, two veteran
William de Winton, who co-headed the European banks research division, and Colum McCoole, head of Morgans European convertibles research wing, followed the firms No. 1 stock strategist, Steve Galbraith, into what is becoming a lucrative and opportunistic sector. Last week, Galbraith quit Morgan Stanley for hedge fund Maverick Capital.
Commonwealth was hit with the landmark penalty over its advisors' mutual-fund recommendations the year before its acquisition by LPL Financial. But it will pay only a fraction of that now.
A new study finds that the industry's efforts to recruit more women is paying off — but it will take further investments to reap the potential business opportunities.
Oil-driven volatility is fueling client anxiety, but advisors say steady messaging helps keep clients invested.
The Apollo Group, a six-person team in New York, is the latest to show that former First Republic advisors are still not completely settled at JPMorgan.
Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
Women often feel talked down to when it comes to financial matters. Advisors with experience serving women clients say the industry has a lot of work to do to change this.
