Investment News
Securities America Asks Reps To Pledge Allegiance
June/09/2011
Securities America this week asked reps to sign a letter expressing their suppport for the firm. For some, the letter signals the besieged B-D is close to being sold,
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Recruiting Roundtable: High Demand, Low Supply
May/29/2011
The following is an edited transcript of InvestmentNews' Recruitment Round Table, held in New York on May 16. Read more . . .
LPL Looses $3B Man
May/02/2011
Ron Carson is exiting after more than two decades at the B-D. The well-known adviser cites shortcomings in the brokerage's RIA platform as one reason for his departure. Read more . . .
BofA Slaps "Garden Leave" Restrictions On Advisers
February/20/2011
Has Bank of America Corp. upped the ante in the battle between the wirehouses and the independent advisory firms gunning for their top producers?
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Billions In Client Assets On The Move
December/19/2010
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 . . .
Wirehouse Recruiting Remains Sluggish
October/24/2010
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 . . .
Arbitrators: B-Ds Kept Brokers In The Dark On Private Deals
September/05/2010
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 . . .
Does LPL's Filing Reveal An Unspoken Truth About Indie B-Ds?
June/15/2010
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
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 . . .
Citi Reels In More Talent From U.S. Trust
May/14/2010
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 . . .
Lawsuit over $5.5B star adviser team's departure settled
April/29/2010
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
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 . . .
Can Small Banks Succeed in Wealth Management?
March/10/2010
You Better Disclose Your Deal To Your Clients When You Move
March/03/2010
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
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
Competing for recruits is costly, and trainees face a tough market. Read more . . .
Wells Fargo Advisors Unveils Bonus Plan For Brokers
January/10/2010
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
Tarnished wirehouses likely to lose more brokers to independents in 2010. Read more . . .
News Analysis: Schapiro's warning is likely to change broker recruitment
September/13/2009
Disclosure to clients could get new push: focus may turn to assets under management. Read more . . .
Merrill Brokers: Sontag's Sayonara Stings
August/05/2009
Dan Sontag's departure from Merrill Lynch isn't sitting well with some of the firm's brokers. Read more . . .
Wealth Firms Say Key To Job Is Seasoning
July/12/2009
In an effort to bolster sagging client confidence, wealth management firms are placing a premium on experience when they hire financial advisers, seeking those with advanced degrees and broader skill sets. Read more . . .
Hightower Has Lured Advisors For Months
May/17/2009
Recruits join from firms that were decimated by the financial crisis, such as Lehman, Merrill. Read more . . .
House Committee Explores Payouts At Brokerage Firms
February/08/2009
... awarding large payouts, wirehouses are "making a business decision to shrink their margins a bit," said Danny Sarch, founder of Leitner Sarch Consultants Ltd ... Read more . . .
Merrill to Layoff 400 Trainees
December/17/2008
“This is a luxury Merrill and Bank of America are not going to pay for,” said Danny Sarch, a recruiter in White Plains, NY “Training has fallen out of favor ... Read more . . .
Tide Change For Traditional Retail-brokerage Firms Expected
December/07/2008
... Nobody's been able to come up with one," said Danny Sarch, founder of Leitner Sarch ... Moy, attorney, Outten & Golden LLP, New York, Danny Sarch, president, Leitner Sarch Consultants Ltd ... Read more . . .
Heads roll in Merrill's Main Branch
December/02/2008
“Being a branch manager is tough,” said Danny Sarch, a recruiter in White Plains, NY “Every broker under you has a put option on your career. Read more . . .
Two Surveys Support Idea of a Wirehouse Exodus
November/30/2008
Advisers have a stronger interest in moving to the independent broker-dealer or RIA model, said Danny Sarch, founder of Leitner Sarch Consultants Ltd. Read more . . .
Recruitment Deals Slim Down
November/16/2008
"The supply and demand issue ... will drive deals down," said Danny Sarch, founder of Leitner Sarch Consultants Ltd. Read more . . .
New Firms Guns For Brokers From Big Firms
November/16/2008
... environment of chaos in the financial services industry, a broker-owned firm "is very compelling," said Danny Sarch, a recruiter in White Plains, NY Advisers ... Read more . . .
BofA Agrees To Protocol On Recruitment
November/09/2008
Another recruiter agrees. "This will make brokers less anxious in the short term," said Danny Sarch, a principal with Leitner Sarch Consultants Ltd. Read more . . .
Top ML Reps Shown The Money
October/26/2008
Merrill included a particularly tough non-compete clause as part of the retention package, said Danny Sarch, a recruiter based in White Plains, NY That may fly ... Read more . . .
Who Will Remain Standing
September/15/2008
... of calls from advisers this morning seeking help and wanting to know what their options are,’’ said Danny Sarch, president of Leitner Sarch Consultants Ltd. Read more . . .
Deals Cut On ARS Take Heat Off Brokers, Advisers
August/11/2008
"I think it is wonderful news for the brokers," said Danny Sarch, a recruiter in White Plains, NY "It puts the burden back on the firm and off the broker. Read more . . .
Fate Of Book Rests On Coin Toss
May/19/2008
Danny Sarch: Firms look to match young brokers with veterans, he says. "It is a bigger problem going forward," said Danny Sarch, president of Leitner Sarch Consultants Ltd. Read more . . .
National Planning Holdings Unveils Surprising Pay Plan
March/31/2008
... could be an indication of more prudent, cautious thinking by a broker-dealer's management, said Danny Sarch, founder of Leitner Sarch Consultants Ltd. Read more . . .
Bear Stearns Brokers Getting Set To Jump Ship
March/24/2008
... Stearns succeeded because brokers always had relationships with people on [trading] desks," said Danny Sarch, founder of Leitner Sarch Consultants Ltd. Read more . . .
No Tears Shed For Eliot Spitzer
March/17/2008
"People on Wall Street are smiling for the first time in a while," said Danny Sarch, principal at Leitner Sarch Consultants Ltd. Read more . . .
In Cutthroat Brokerage Industry, Level of Cooperation Is Extraordinary
September/24/2001
Headhunters Eager To Rescue Brokers Who Abandon Ship: Pay Cut, Up To 1 in 5
July/07/1999