by Patrick M. Kelly | Jan 31, 2012 | Morgan Keegan
OnWallStreet spoke to their elite Recruiter Roundtable members to get their reaction to the Raymond James-Morgan Keegan acquisition this week. Most of them agreed it looked like a good “cultural” fit, but when it came to the retention packages being offered the...
by Patrick M. Kelly | Jan 30, 2012 | Financial Advisors, Financial Services Industry
“High Tower plans to continue to ramp up the expansion and take advantage of the increased advisor movement,” stated Executive Vice President of Business Development, Mike Papedis, to reporter Lorie Konish of OnWallStreet on January 23. [pullquote]The firm’s model has...
by Patrick M. Kelly | Jan 27, 2012 | 401K Disclosure Rules
The Department of Labor’s 401(k) plan fee disclosure rules that would require U.S. broker-dealers to report how much they are paid to distribute mutual funds through brokerage windows is going to create a nightmare. Brokers claim that the hundreds of different...
by Patrick M. Kelly | Jan 20, 2012 | Compensation, Wall Street
FinancialAdvisor online magazine reported January 17, that Morgan Stanley, owner of the world’s biggest brokerage, is capping cash bonuses at $125,000 as the firm curtails pay and defers more compensation for senior executives. Members of the company’s operating...
by Patrick M. Kelly | Jan 18, 2012 | Compensation, Financial Recruiters
Bank of America has seen six consecutive quarters of growth in its workforce of financial advisors which now number about 15,500. As a counter to the rumor that more Merrill brokers will be leaving due to competing firms offering them large incentives and the former...