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Registered Rep.
April 29, 2009
Halah Touryalai |
Wirehouse Advisors Switch Firms in March The number of reps switching broker/dealers during the month was up 34 percent versus the number who switched in February.   |
Registered Rep.
July 14, 2009
Halah Touryalai |
Financial Advisor Switching Firms Jumps in June June was a busy month for financial advisors on the move. The number of advisors switching firms jumped 45 percent in June versus May, according to Discovery Database. |
Registered Rep.
January 6, 2010
Halah Touryalai |
Wirehouse FAs Switching B/Ds Slows The number of wirehouse advisors switching broker/dealers has been in steep decline since June. |
Registered Rep.
December 16, 2009
Halah Touryalai |
Wirehouse Switching Slows in Second Half of 2009 In November, just 177 advisors in the wirehouse channel switched firms, the smallest monthly number all year, according to Discovery Database. |
Registered Rep.
February 16, 2010
Mindy Diamond |
Recruiting Bonuses Are Still Strong TD Ameritrade, Schwab, Fidelity and Pershing are all reporting that their pipelines of interested advisors is more robust than ever in their collective histories. |
Registered Rep.
September 11, 2009
Halah Touryalai |
Survey Says: Wall Street Advisors Going...Wait For It...Independent! Wall Street wirehouse firms are expected to see a net loss of $188 billion in client assets to other channels in the industry, including RIAs, independent broker/dealers and regional b/ds. |
Registered Rep.
March 1, 2007 |
The Process How can an advisor be sure to find a new independent b/d that is the right fit? With so many firms to choose from, how can a rep begin to narrow down his search? |
Registered Rep.
June 5, 2012
Diana Britton |
A Regional Resurgence After years of being considered acquisition targets, regional broker/dealers may be making a comeback. |
Registered Rep.
April 1, 2008 |
Meet the Indies Choosing an independent broker/dealer to join isn't easy. We speak with five heads of independent broker/dealers about their businesses, an why you should join them. |
Registered Rep.
July 1, 2006
Kristen French |
Independent Channel Big and Getting Bigger Every financial-advice channel grew in terms of advisor headcount in 2005 except for the regional and bank broker/dealers, according to recently released research. |
Registered Rep.
January 8, 2010
Jerry Gleeson |
Wells FA Team Bolts for Moneta, an RIA More proof of the breakaway broker phenomenon, albeit anecdotal? Moneta Group has hired two veterans legacy A.G. Edwards advisors, the company said today, amid a nascent national trend of advisors leaving wirehouses for smaller independents. |
Registered Rep.
April 24, 2009
Halah Touryalai |
Raymond James Takes a 2Q Hit -- But Gains Retail Advisors Raymond James Financial posted dismal overall earnings for the second quarter, but its private client group appears to be a bright spot. |
Registered Rep.
August 11, 2009
Kristen French |
Wirehouse to Wirehouse Switching Sinks Fewer and fewer financial advisors are leaving one wirehouse for another. Instead, they are heading to independent, regional and institutional firms. |
Registered Rep.
February 1, 2005 |
By the Numbers Top 10 Broker/Dealers, by Advisor Headcount: Merrill Lynch... Wachovia... Smith Barney... Morgan Stanley... etc. |
Registered Rep.
May 26, 2010
Jerry Gleeson |
Bonuses No Balm For Some Breakaway-Minded Brokers Paying retention bonuses to top brokers to keep them from jumping ship is a pricey strategy that only works some of the time, a report released today by Aite Group shows. |
Registered Rep.
January 1, 2006
Halah Touryalai |
The Winner's Curse Many advisors independent b/ds recruit have now unrealistic expectations: They want full technical and marketing support, as well as help understanding products and asset managers. |
Registered Rep.
April 1, 2009
Halah Touryalai |
No Buyers--Still--For AIG-owned B/Ds AIG announced its plan to sell its independent broker/dealers back around October 2008. Six months later, nothing has changed except that reps we spoke to are even more frustrated. Some say they are ready to bolt. |
Registered Rep.
January 25, 2010
Halah Touryalai |
LPL's New RIA Platform Rakes in Assets Since launching the platform in October 2008 through the end of 2009, the firm gathered $7.3 billion in assets. |
Registered Rep.
October 15, 2010
Jerry Gleeson |
Fewer, But Bigger Breakaway Brokers Joining RIAs With markets stabilizing and bank-brokerage merger integrations progressing, fewer brokers are fleeing the big Wall Street wirehouse firms for the RIAs and independent b/ds in 2010. |
Registered Rep.
September 1, 2010
Halah Touryalai |
Outgrowing the SERIES 7 There is a coveted cohort of dually registered advisors who are dropping their Series 7 licenses and leaving their b/ds behind. |
Registered Rep.
December 13, 2010
Susan Konig |
IBD and RIA Opportunities Arise For Branch Managers As the independent broker/dealer and RIA channels grow, they are creating a viable market for those displaced managers. |
Registered Rep.
May 13, 2009
Christina Mucciolo |
Wall Street Squeezes Small Brokers, Many Go Independent In this brutal market, many advisors are taking payout cuts or being let go. But many of these advisors are finding homes at independent and regional b/ds and RIA firms. |
Registered Rep.
June 1, 2012
Diana Britton |
Breaking Out: A New Era in Insurance Insurance firms constantly go through cycles of acquisition and sale when it comes to their broker/dealer subsidiaries. But the current sell cycle is different, and it may shake up how the business works. |
Registered Rep.
April 18, 2007
Halah Touryalai |
Chuck Prince: Smith Barney Goin' Nowhere Citigroup's CEO has been at the center of company news recently with his plans to cut costs including last week's announcement of about 17,000 job cuts. That cut may affect over 100 Smith Barney employees and about 30 advisors. |
Registered Rep.
November 1, 2007
Halah Touryalai |
Do-It-Yourself Broker/Dealer Rather than join an existing broker/dealer as an independent contractor, an increasing number of reps are starting their own firms. Here are some important things to consider before going out on your own. |
Registered Rep.
September 10, 2003
David A. Gaffen |
Existing Clients Want More Advice The good news for reps is that the world doesn't hate you. The bad news is that acquiring clients -- particularly affluent ones -- is getting a lot more tough. |
Registered Rep.
March 31, 2015
Diana Britton |
Perks of Being an IBD Advisor Many b/ds offer their reps special perks and incentives beyond payout |
Registered Rep.
February 18, 2009
Halah Touryalai |
LPL's New RIA Offering Lookin' Healthy; But Still A Pipsqueak Compared To Rivals There are some folks in the industry actually doing relatively well these days. Seriously. LPL Financial said today its new-ish RIA platform now has over $1 billion in new assets. |
Registered Rep.
April 18, 2011
Diana Britton |
MSSB Team Jumps Ship to Raymond James Father-daughter advisor team Martin Gelb and Sonya Gelb Choeff have jumped ship to Raymond James in Miami Beach, Fla., from Morgan Stanley Smith Barney, as the fight for talent continues. |
Registered Rep.
November 18, 2005
Kristen French |
Smith Barney Cuts Pay for Smaller Brokers The new pay scale was announced to brokers internally in October and will take effect in January. |
Registered Rep.
June 2, 2011
Diana Britton |
America's Top Independent Brokerages The Merrills and Morgan Stanleys of the world say it was never an exodus, the migration is over, and it was only those advisors who couldn't make it in the cutthroat wirehouse world who crossed over to the independent side of the business. |
Registered Rep.
March 12, 2010
Mindy Diamond |
Break Back Brokers Over the last six months, an interesting reverse shift is occurring: the RIA or independent b/d advisor who wants to return to (or go to for the first time) a wirehouse firm. |
Registered Rep.
July 24, 2009
Christina Mucciolo |
Raymond James Q3 Earnings Down But Retail FA Recruiting A Bright Spot Raymond James is experiencing a rush of interest from apparently disgruntled wirehouse advisors. |
Registered Rep.
April 7, 2011
Kristen French |
Switching To Independent Model Keeps Up Pace Migration to the independent financial advisor model -- independent b/ds and RIAs -- is likely to continue unabated in 2011. |
Registered Rep.
November 3, 2009
Halah Touryalai |
ING Broker-Dealers Sold to Private Equity Firm The anticipated sale of the ING broker/dealer network is official -- the struggling Dutch parent company shed the three independent firms to a private equity firm for an undisclosed amount. |
On Wall Street
July 1, 2009
Frances A. McMorris |
The Lure of Independence After 14 years as a Merrill Lynch financial advisor, Jason DiLauro set himself up as an independent through Raymond James Financial Services four miles from his previous office. |
Registered Rep.
December 12, 2006
Halah Touryalai |
Smith Barney Pay Package: Perks Balance Cuts? This week, Smith Barney will become the first firm to make a change to its payout grid as a result of the securities industry's recent battle over broker overtime pay and so-called chargebacks. |
Registered Rep.
May 5, 2010
Kristen French |
Small B/Ds in A Crunch, Expect More Closures, Mergers In 2010 Squeezed by investor lawsuits, rising compliance and insurance costs, as well as departing advisors and clients, some of the industry's smallest independent broker/dealers are struggling to stay afloat. |
Registered Rep.
February 23, 2007
Kevin Burke |
Disgruntled Smith Barney Brokers Are Voting with Their Feet Sixty-nine brokers left Smith Barney, just ahead of a three-day weekend. Fridays before a long weekend are historically prime times for unhappy brokers to make a clean break, but the large number of brokers taking off on a single day is alarming. |
Registered Rep.
December 1, 2004
Mindy Diamond |
Packing the Parachute Success in the brokerage industry can be as much about mindset as anything else, so it comes as little surprise that advisors avoid negative thoughts, such as the potential necessity of a quick exit from their practice. |
Registered Rep.
September 17, 2008 |
AIG Saved; Biz As Usual For Its B/Ds The government bailed out AIG from near failure with a two-year loan of $85 million in exchange for a nearly 80-percent stake in the company. |
Registered Rep.
October 1, 2005
John Kador |
Schwab Does It Again Charles Schwab, the pioneering discount broker who was slammed by the tech wreck and suffered through protracted management struggles in the past two years, is beating the wirehouses at their own game. |
Registered Rep.
September 7, 2011
Diana Britton |
Seven B/Ds Sign on With Erado for Interactive Social Media Use The partnerships will allow these firms' reps to post interactive content to Facebook, Twitter, and LinkedIn without pre-approval by their compliance departments. |
Registered Rep.
March 1, 2006
Kristen French |
The Best of Both Worlds Advisors say the broker/dealer-RIA hybrid model gives them freedom to choose what products, services and fees are best for their clients. |
Registered Rep.
December 1, 2005
Halah Touryalai |
Smith Barney: New Focus On the Horizon While most Smith Barney advisor respondents were generally unimpressed by the acquisition of Legg advisors, it'll be interesting to see if Smith Barney's jettisoning of its asset management group -- and resulting new focus on retail distribution -- will rejuvenate the firm. |
Registered Rep.
February 23, 2010
Halah Touryalai |
Clients, The New Breakaways First, there was the breakaway broker phenomenon; now, it seems, we have a growing vogue of breakaway clients -- former wirehouse investors who ditch their old advisors for new ones at independent RIAs or broker/dealers. |
Registered Rep.
August 5, 2010
Jerry Gleeson |
Poll: Clients Love Breakaway Wirehouse Brokers Breakaway wirehouse advisors never walk alone. A new report by Aite Group on the independence movement shows that reps from the big houses demonstrate superior client retention when they leave their employers. |
Registered Rep.
November 6, 2008
Christina Mucciolo |
Bank Run It might be time to reconsider the stereotype of the bank broker. |
Registered Rep.
April 17, 2009
Halah Touryalai |
Smith Barney Losing Advisors, Client Assets But while Smith Barney is losing reps, it also appears to be recruiting heavily. |
Registered Rep.
August 1, 2006
Kristen French |
The Way We'll Be While it's clear how the financial services industry got here, it's not so easy to predict where we're going. Here's a look at three major forces that will likely shape the industry over the next five to 20 years: The Age of Retirement... The Margin Squeeze... RIA Revolution... |
