Advisor news
Financial advisor career news from Willis Consulting
The Link Between Financial Advisors and Banks
Program Managers -- the essential and crucial link between financial advisors and their bank investment program are interviewed and scrutinized in OnWallStreet’s report “The Top 20 Program Managers” by Conrad, Correia, Barack and Sheehan on May 1. The Program...
Multi-Million Dollar Women Financial Advisors Forum
Women Advisors Forum is a social network for women financial advisors, and the Women Advisors Forum Dallas is one of six unique and thought-provoking events designed exclusively for women in the advisory business either in one of the major wirehoues, regional...
What’s Ahead for the Volcker Rule?
For months, large banks have been attempting to dial back the Volcker Rule, which was included in the Dodd-Frank Act and bans proprietary trading, arguing that regulators' first proposal to implement it was unworkable. And until Friday, many in the industry had...
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Bank Brokerage Programs Evolving Into Powerhouses
“If you are conservative, and a team player who does not mind a more structured environment, then your personality could be right for the bank brokerage culture. If growing your business is more important than receiving the largest transitional package, then I...
Increase In Investment Revenue For Banks = Increase In Financial Advisors
Banks looking to increase their investment revenue could do better by focusing on reducing the size of advisors’ territories and hiring more financial advisors, according to PrimeVest’s latest white paper on “growing investment programs.” According to Catherine...
Alliance For RIAs Council Created for Financial Advisors
“aRIA” or Alliance for RIAs, has been formed by six RIA firms, it was announced this week according to Matt Ackermann, reporting for OnWallStreet. The group plans to meet on a regular basis and provide “thought leadership” to independent and wirehouse financial...
LinkedIn Essential For Advisors To Expand Business
If someone would have told me three years ago that I would have my business profile out there on Facebook, or Twitter, or any other social networking site, I would have laughed and said “No way, bro!” But, now I have to face it…social networking has become the new...
Wirehouses of the Future: Financial Advisor Magazine
Financial Advisor Magazine April 2012 issue Wirehouses Still King Of The Hill Despite headlines about breakaway brokers and the ascendency of the independent, fee-based advisory model, the Big Four wirehouses are still holding their own. According to Cerulli...
High Tower Attracts Financial Advisors From Wirehouses
In fact, 92% of High Tower’s financial advisors have been picked off from traditional wirehouses according to Charles Roame, CEO of Tiburon Advisors. Last week at the Tiburon CEO Summit XXII in New York City, Roame told the audience of financial executives that the...
Edward Jones Welcomes Military Veterans As Financial Advisors
OnWallStreet’s Elizabeth White reports that Edward Jones conducted a poll of 1,000 American investors and found that investors want to see the traits of military veterans in their financial advisors. Edward Jones employs more than 1,300 veterans or 11% of their...
FINRA Deadline For Financial Advisor Comments Ends May 21
FINRA‘s proposal to change how broker complaints are expunged from CRD’s Broker Check at least offers the financial advisor some recourse on having “meritless” complaints removed from their record. Prior to the current proposed changes, the broker who was not...
UBS Wealth Management Recruiting Tactics
From the Reuters report to OnWallStreet on March 28, according to some financial recruiters with knowledge of what UBS offers, the company has offered up to 215 percent of a broker’s annual trailing revenue production upfront. (Rivals offer between 160 percent...
The Race To Attract Top Brokers
And the winner is…UBS! As reported by Reuters on March 28 for OnWallStreet, UBS AG’s American wealth management division has pulled ahead in the race to attract top producers by the use of aggressive recruiting practices and large signing bonuses. Since January, 48...
Hartford Puts Woodbury On The Block
When The Hartford announced plans last Wednesday to sell Woodbury Financial Services, the firm’s independent broker/dealer, it created 1,600 financial advisors feeling anxious and wondering if they should start looking for another broker/dealer or wait it out to see...
600 Advisors Offered Retention Incentives To Stay With Raymond James
OnWallStreet’s Lori Konish reported on March 22, that 600 Morgan Stanley financial advisors were offered retention incentives to remain with Raymond James after the acquisition two months ago. Of those, 98% have agreed to stay, a pleasant surprise as noted by COO...
MASS Exodus Of Advisors Does Not Pan Out
It’s a given that turnover is a constant in the wirehouse world and every wirehouse has gone thru their periods of upheaval, bad press, and an exodus of brokers. Speculation about Merrill’s inability to recruit big brokers after losing 50-80 top producers in the past...
FINRA Embraces Technology For Continuing Membership Apps
FINRA hopes to eliminate administrative delays in the filing by firms of continuing membership applications. When a broker-dealer has an operation, change of ownership, or control change, they are required to file a continuing membership application (the 1017 process)...
Ameriprise Recruiting Experienced FAs
[pullquote]a global financial leader with integrity as a core value[/pullquote]Since their founding in 1894 by John Tappan in Minneapolis, MN, Ameriprise Financial has grown into a global financial leader with integrity as a core value. With corporate offices across...
Are Retention Bonuses Creating Deal Junkies?
After reading the compensation rankings for advisory firms cited in my last blog article, see what our founder, CEO and President Bill Willis has to say in his article in the March issue of OnWallStreet. [pullquote]Have the firms gone too far with their huge retention...