2010
Billions In Client Assets On The Move
December/19/2010 PublicationInvestment News
Hundreds of financial advisers switched firms this year, many looking for opportunities to build equity in themselves and some exiting after mergers. Many were also lured by big bucks, according to recruiters and industry experts. Read more . . .
Preview: The 2011 On Wall Street Recruiters' Roundtable
December/17/2010 PublicationOn Wall Street
Our annual recruiters roundtable covers broker pay, regulation, the biggest deals and, of course, the outlook for 2011. Read more . . .
Goldman to Hire to Expand Wealth Business
December/17/2010 PublicationOn Wall Street
Goldman Sachs plans to aggressively expand its wealth business by hiring up to 200 additional advisors. Read more . . .
New SEC Rules won't Kill Upfront Bonuses
November/11/2010 PublicationRegistered Rep
Attorneys, compensation experts and recruiters said broker recruiting bonuses would be difficult to regulate, and that if anything, the SEC would most likely require greater disclosure of the practice to clients. Read more . . .
Wirehouse Recruiting Remains Sluggish
October/24/2010 PublicationInvestment News
Sluggish recruiting and the continued slow migration of advisers to smaller firms has left the three biggest wirehouses either adding minimally to the work force or watching the head count drop. Read more . . .
Broker Bonuses May "Haunt" Wall Street But They Aren't Going Away
October/11/2010 PublicationForbes
While brokerages may be "haunted" by the expensive bonuses they've been offering financial advisors, they're also the ones responsible for coming up with the record-breaking deals. Read more . . .
Who Will Be Number One Among The Wirehouses?
October/04/2010 PublicationRegistered Rep
Bragging rights are just that. But it sure is nice to say you're number one. Read more . . .
The Paycheck Question
October/01/2010 PublicationResearch Mag
with speculation about the new wirehouse payout grids. Not so this year. Danny Sarch, president of Leitner Sarch Consultants in White Plains, N.Y. reports that wirehouses have put a lid on any payout grid ... legislation will look like. All firms are paralyzed until that happens," says Sarch. "They have to figure out ... Read more . . .
Arbitrators: B-Ds Kept Brokers In The Dark On Private Deals
September/05/2010 PublicationInvestment News
From giants such as Citigroup Inc. to small broker-dealers such as Pacific West Securities Inc., brokerage firms have kept their representatives in the dark about problematic details in investments. Read more . . .
UBS Rolls Out Mortgages For Advisors
September/01/2010 PublicationRegistered Rep
UBS advisors welcome the firm's plans to push mortgages through the retail division. It means a little extra padding on payout when times are tight. Read more . . .
UBS Advisors Welcome Mortgage Rollout
August/06/2010 PublicationRegistered Rep
Financial advisors at UBS Wealth Management Americas closely watched this week as the U.S. brokerage rolled out plans to sell more of its own mortgage and lending products through its retail brokerage force. While the mortgage market has recently spelled trouble for Wall Street (think delinquent loans, toxic mortgaged-backed securities) UBS is calculating that the worst is over. Most UBS advisors, looking for added revenue in a competitive market, welcomed the UBS push. Read more . . .
Does LPL's Filing Reveal An Unspoken Truth About Indie B-Ds?
June/15/2010 PublicationInvestment News
When it comes to controlling client assets, LPL Investment Holdings Inc.'s recent IPO registration offers clear proof that the remaining four wirehouse broker-dealers still dwarf the more diverse galaxy of independent broker-dealers. Read more . . .
Citi Continues To Purge U.S. Trust Advisers
June/10/2010 PublicationInvestment News
Citi Private Bank, the private-banking unit of Citigroup Inc., continues its aggressive recruiting from U.S. Trust and has now lured a total of 10 bankers from the Bank of America unit since the end of April. Read more . . .
Morgan Stanley Smith Barney Boosts Recruitment Package
June/08/2010 PublicationOn Wall Street
Let the game begin! With MSSB's move, can Merrill be far behind? Read more . . .
Taking Home The Leftovers
June/01/2010 PublicationRegistered Rep
Broker/dealer firms eat away at their advisors' take-home pay with little fees on nearly every product and service. Sometimes the slices they take aren't very transparent. Read more . . .
Under Pressure
June/01/2010 PublicationOn Wall Street
Last month AFA Financial followed GunnAllen in shuttering its doors. Will more small independents close? Read more . . .
Surveying the Advisor's Job Market
May/28/2010 PublicationOn Wall Street
Opinionated recruiter Danny Sarch gives a no-holds-barred view on what type of firm advisors should be choosing. Read more . . .
Citi Reels In More Talent From U.S. Trust
May/14/2010 PublicationInvestment News
For the third time this week, Citi said that it has signed talent from U.S. Trust Bank of America Private Wealth Management, the wealth management arm of Bank of America Corp. Read more . . .
Bank of America Still Ramping Up Merrill Branding
May/14/2010 PublicationRegistered Rep
Though it recently wrapped up a national advertising campaign for Merrill Lynch, Bank of America continues to ramp up branding of the division, with an extension of the Merrill New York Yankees sponsorship as well as recent visits to Merrill offices by BofA personnel to monitor marketing materials. Read more . . .
UBS Wealth Unit Makes Progress, Still Has a "Way to Go"
May/04/2010 PublicationOn Wall Street
UBS Wealth Management Americas had $6.6 billion in outflows, but less than the previous quarter. Read more . . .
Lawsuit over $5.5B star adviser team's departure settled
April/29/2010 PublicationInvestment News
A lawsuit filed by Deutsche Bank Alex. Brown against a team of top-producing brokers who are leaving the firm for Barclays Wealth Management has been settled. Read more . . .
Two Complex Managers Latest To Leave MSSB
April/14/2010 PublicationInvestment News
Pete Secret and Peter Ardolino join the growing list of complex managers who have exited the firm since its merger with Smith Barney. Read more . . .
Recruiting Trends
April/08/2010 PublicationRegistered Rep
Wall Street Recruiter Danny Sarch, on recruiting trends. Read more . . .
Registered Rep. Video Channel
April/08/2010 PublicationRegistered Rep
Video of Wall Street Recruiter, Danny Sarch, on Recruiting Trends. Watch the video . . .
Morgan Stanley Shuffles The Deck
April/01/2010 PublicationOn Wall Street
Depending on who you ask, the executive changes at the firm are either business as usual, or another indication of the Morgan Stanley culture overtaking Smith Barney. Read more . . .
UBS Casts Itself As The Goldilocks of Wealth Management
April/01/2010 PublicationOn Wall Street
It’s not too big and it’s not too small. It’s just right, CEO Robert McCann says. Read more . . .
McCann Is the Man at UBS: Name Change to PaineWebber?
March/15/2010 PublicationRegistered Rep
The much-anticipated revival plan for UBS Wealth Management Americas will cap off a series of recent organizational changes garnering support from an important constituency: advisors at the beleaguered brokerage, Registered Rep. has learned. Read more . . .
Can Small Banks Succeed in Wealth Management?
March/10/2010 PublicationInvestment News | Danny's OWS Column
You Better Disclose Your Deal To Your Clients When You Move
March/03/2010 PublicationInvestment News
They are going to find out about it anyway, and they're better off hearing about it from you. Read more . . .
Do Firms Sue When They Are Afraid To Compete?
February/22/2010 PublicationInvestment News | Danny's OWS Column
How can an Advisor or a Firm "own" someone else's money? Read more . . .
Wirehouses have hard time building up broker head count
February/14/2010 PublicationInvestment News
Competing for recruits is costly, and trainees face a tough market. Read more . . .
Wells Fargo Looking To Add 1,400 Advisors
February/05/2010 PublicationOn Wall Street
Second major hiring move this week by a banking company, following BofA's announcement that it would add 2,000 advisors. Read more. . . .
Wealth Management Has Strong Fourth Quarter at Morgan, BofA
January/20/2010 PublicationRegistered Rep
Neither Morgan Stanley Smith Barney nor Bank of America ended 2009 with a bang in the earnings department. But their wealth management units were pockets of strength. Read more . . .
Wells Fargo Advisors Unveils Bonus Plan For Brokers
January/10/2010 PublicationInvestment News
The broker-dealer will now base awards on growth in assets. Read more . . .
Reps' game of musical chairs seen unlikely to miss a beat
January/03/2010 PublicationInvestment News
Tarnished wirehouses likely to lose more brokers to independents in 2010. Read more . . .
The Hire Powers Speak Out
January/01/2010 PublicationOn Wall Street
Whatever direction you take your career next, our Recruiters Roundtable will tell you the opportunities and pitfalls that await you at the wirehouses, regionals, boutiques and independent shops. Read more . . .