Wirehouses

Did you ever wonder why the word "billion" seems to elicit a terrible feeling in your gut? Do you remember when a billion dollars seemed like so much money it was unattainable? Do you remember when a millionaire was considered really wealthy? Now, a millionaire is not rich and a billionaire must have done something evil to become one.

In the span of 12 months, the Active Bear Exchange-Traded Fund (HDGE) has become a wirehouse darling.

Elite RIAs have achieved near-equal compensation with top-earning wirehouse advisors, according to research from Sanctuary Wealth Advisors.

Wells Fargo Advisors announced it has named Kent Christian, currently head of its financial services group, president of Wells Fargo Advisors Financial Network, the broker-dealer affiliate through which Wells Fargo Advisors supports independent financial advisors.

A new report says wirehouses have boosted their average client age and created a threat to their own prospects for future growth.

Research firm Cerulli says high-net-worth investors are spreading their wealth among a variety of firms.

Advisors may still feel a bit awkward as well as worried about compliance when they use social media, but they’re definitely using it to build their brands and businesses, according to a new SourceMedia study.

Janney Montgomery Scott adds a pair of financial advisors from Wells Fargo Advisors and Morgan Stanley Smith Barney.

Most logical path to the future growth of wirehouses is through their largest advisor teams.

Wirehouses have lost headcount and asset share even as the average assets under management per advisor in the channel has risen, according to a new report released Friday from Cerulli Associates.

Giant financial institutions and wirehouses that spent fortunes attracting and retaining top-producing brokers and wealth managers over the past few years may be about to get socked with a big wave of departures this year and, especially, in 2012.

Last year, wirehouses were hot. This year, they are not. At least not with banks trying to recruit additional registered representatives.

The wirehouse says we’re in the middle of a multi-year bull cycle for equities.

The business-cycle recovery in the global economy that began in the summer of 2009 is now an expansion, says MSSB.