Economy

Ratings agencies predict major losses for all of the largest BDs, prompting firms to reassess strategies in uncertain times.

The firm had intended on increasing some grid thresholds by about 10%.

Can a home equity line of credit offer clients a bridge loan for troubled times? Says one, “I’m going to call those people and rehire them.”

The problem was from a bug related to an external software provider.

For wealth management to achieve sustainable organic growth, the industry needs to boost the number of households served by financial advisors and firms, consultant Gavin Spitzner says in an episode of Financial Planning’s Invest Podcast.

The perennial contender won the top spot in J.D. Power’s annual survey as the coronavirus makes brand and advisor trust even more important to the industry.

The firm, which already closed 260 branches, now has 100% of its staff operating virtually.

Ameriprise’s chief took a 5% cut in his compensation, even as the firm cited notable positive results that buoyed the industry last year.

The amount of financial advisors changing firms doesn’t capture the breadth of the challenge broker-dealers face to retain them, recruiter Jodie Papike says in an episode of Financial Planning’s podcast.

Job listings for roles that don’t need to be filled immediately will be pulled.

Senior leaders at the No. 1 IBD meet daily about the pandemic as large enterprises set their own continuity plans into motion with an eye toward ensuring operations.

Many advisors can make the switch from a traditional office to one right down the hallway — but it comes with its own set of ground rules.

Moody’s lowered the giant IBD network’s credit rating with sobering words that could resonate across wealth management.

After serving 18 months in jail, Craig Rothfeld knew “other people would need help too.”

The firm is experimenting with new, virtual capabilities to permit staff to work remotely amid an unprecedented health crisis.

Moody’s affirmed the company’s “B3” rating but signalled the potential wide-reaching impact of the pandemic across wealth management.

It’s another action taken by wealth management firms to safeguard employees and clients from the coronavirus.

While many institutions are taking protective steps, others want to stay open to promote public confidence in the banking system.

Some clients can get an extension on paying taxes of up to $1 million and corporations can defer tax payments of up to $10 million.

Wealth management firms should track the lives they impact beyond the size of their client books, KMS Financial Services CEO Erinn Ford says in an episode of Financial Planning’s Podcast.