Practice management

Within a decade, only about 150 large, profitable wealth management firms will dominate wealth management, according to a new forecast co-authored by Mark Hurley, chairman and CEO of the Fiduciary Network.

IMCA’s annual conference kicks off in Seattle on Monday with lessons for financial advisors from behavioral finance professor Meir Statman.

Merrill Lynch’s ultra high net worth business, the Private Banking and Investment Group, has snapped up two Morgan Stanley Private Wealth Management advisors in Houston, Texas.

Former Lazard Wealth Management executive Sharon Klein joined Wilmington Trust to build its growing practice in the New York metro area.

"Everything is bigger in Texas." That's certainly the case when the Raymond James and its 2013 national conference descended on Dallas, where thousands of advisors around the country gathered to learn best practices and swap ideas.

Americans are allocating a smaller share of their spending to investment-related fees since the recession, a sign they are still wary of returning to financial markets even as stocks trade near record highs.

UBS executive Robert Mulholland has a message for professionals in the financial services industry: We are the adults in the room.

Schwab’s CEO Walt Bettinger sent clients a letter apologizing for the inconvenience caused by the company’s website outage Tuesday.

Fidelity Investments has rolled out a Windows Phone 8 brokerage app for Windows Phone users to help them manage their investments on the go.

Thousands of Raymond James financial advisors gathered in Dallas this week for the firm's annual national conference -- here's what they picked up.

Thousands of Raymond James financial advisors gathered in Dallas this week for the firm's annual national conference -- here's what they told us they picked up.

A proposed rule requiring advisors to disclose their transition packages when switching firms could change the tone of the conversations in the war for top industry talent.

Barack and Michelle Obama need a better financial strategy. Financial Planning has several suggestions.

Financial services firms and advisors are relying on new technology and enhanced training to to take a more holistic financial planning approach with clients.

Morgan Stanley has hired three advisors from Deutsche Bank, Merrill Lynch, and Wells Fargo who combined for more than $3.2 million in production.

“We have the opportunity to think beyond tweeting and posting about how this will fundamentally change products in this industry,” said Augie Ray, director of social media strategy for Prudential Financial. “It’s not just about getting content out – we certainly have to do that too – but there are a lot of changes coming in the next five years.”

J.P. Morgan Securities announced Wednesday it has added eight advisors to its offices in Boston, New York City, and Florham Park, N.J.

Although client referrals are the single biggest driver of new business, only 20% of advisors ask for referrals systematically. Worse, a majority indicate that they can address referrals only occasionally in client meetings. Matt Matrisian writes that advisors need to focus on reinforcing referral behavior in their client base to generate real growth.

The survey, by Northwestern Mutual, found that three quarters of people prioritize long-term planning over short-term performance, and one-third said “slow and steady wins the race” best describes their approach to future financial goals.

The Financial Industry Regulatory Authority has temporarily withdrawn a controversial proposal to require advisors, brokers and firms to incorporate links to the BrokerCheck database when they post content to social media sites.