Advisor news
Financial advisor career news from Willis Consulting
End of Year Bonuses Likely to Drop for Investment Banks
Although final decisions are weeks away, some reports issued recently are predicting that average 2011 bonus compensation at global investment banks will drop 15% to 30% from last year.* ( At the same time, compensation in the rest of corporate America is rising,...
UBS Advisors Test iPad App
Last week, sixty UBS Wealth Management Americas financial advisors began a three month test drive of the “UBS FA Mobile” a byproduct of a collaboration between the firm and FrameHawk, a San Francisco-based developer of mobile applications. The application is...
Turbulent Times Demand Tough Action
[pullquote]Predictability, consistency and accountability are essential for ensuring client confidence.[/pullquote] Read an interesting article in the December edition of OnWallSteet. Written by Dr. Denise Federer, clinical psychologist, executive coach and founder of...
2012 Forecast Among Wirehouses
Who will lead the wirehouse industry in 2012? FundFire’s annual poll asked the question: “Which of the four major wirehouses is best positioned, in terms of its overall strength in the wealth management space?” Results pointed to Morgan Stanley Smith Barney with 43%...
UBS Bucks Trend To Cut Dividends
While other banks are under pressure to cut their dividends, UBS surprised analysts and investors with their announcement that they would begin paying dividends again. (The last cash dividends were paid in 2006.) The announcement came at an investor event in New York...
Raymond James’ New Advisor Training Program Attracts Female Participants
The new training program, Advisor Mastery Program or AMP was launched in October by Raymond James with 35 participants and based in the California, Colorado, Florida, Indiana, Michigan and Texas branches. With a goal to attract more women, the class boasts 35% female...
Another Option for Examining RIA Firms
“Instead of the Securities And Exchange Commission (SEC) or the Financial Industry Regulatory Authority (Finra) examining RIA firms, the firms themselves should foot the bill for their own periodic compliance examination by using an outside body. “ That's the novel...
How to Successfully Work With Financial Services Recruiters
Just an FYI for you Financial Advisors who are looking, (or not) to make a move. Should you contact Financial Services Recruiters or go it alone? First to consider: A good recruiter has access to jobs and information about the industry and can provide advice that will...
The Risk of Not Being Ready
Everyone has “buzzed” about the Dodd-Frank Wall Street Reform Act and the European Market infrastructure Regulation and agreed that the changes represented are some of the biggest ever. Granted, what will actually come to fruition is up for debate, but there is...
Marketing Ideas for Financial Advisors
Planning Network’s annual retreat was held in Denver two weeks ago; with a record 132 members in attendance, they shared their ideas for what’s working in their businesses. According to Marie Swift, reporting for OnWallStreet, highlight was keynote speaker, Allan...
Merrill Edge Hiring Spree Continues
It would not appear as though the masses are exiting BofA’s Merrill’s Wealth Management even though MSSB snatched a star producer from Merrill. Just in the last month, they have picked up 80 new Merrill Edge Financial Solution advisors from California and Nevada. And...
9-9-9 Tax Proposal Origin
Wells Fargo’s Financial Advisor’s Managing Director of Wealth Management, Rich Lowrie of Pepper Pike, Ohio, helped craft GOP Presidential candidate, Herman Cain’s tax proposal. Lowrie, who heard Cain speak while attending an organizational gathering of the Club for...
How Ambitious Is Wells Fargo?
If the talk on the street is true that Morgan Stanley is the next takeover candidate, then will California-based Wells Fargo be a likely buyer? They acquired Wachovia, a small investment banking operation and have fared decently in the middle market and are the fourth...
New York City BofA Cuts 324 Jobs
With their market value down more than 53% since the start of 2011, Bank of America continues to focus on cutting expenses under CEO Moynihan’s plan, “Project New BAC,” which aims to cut $5 billion in annual costs by the end of 2013. So, the Oct. 13 announcement that...
Merrill Edge Adds 80 Advisors
BofA’s Northwest region has hired more than 80 new advisors to serve their “preferred” customers with investable assets of between $50,000 and $250,000. The FSAs will provide guidance and solutions to help customers manage their banking and investment needs....
Morgan Keegan Financial Advisors Fear Acquisition by a Large Firm
[pullquote]The Company is looking for a buyer who will maintain the same culture that we have had.[/pullquote] Regions Financial Corp announced their intent to sell off their Morgan Keegan brokerage unit last June, and ever since rumors and speculations over who will...
BofA Merrill Lynch Creates New Direction for Institutional Business
[pullquote]Recruiting will focus on institutionally-experienced financial advisors[/pullquote] Looking to grow their business with institutional clients, Bank of America Merrill Lynch has renamed its Institutional Consulting Group. An internal memo sent to employees...
Willis-Consulting Opens Doors in Upscale Kierland Commons
Willis-Consulting, Inc. has moved its Scottsdale satellite office site into the “Bright Lights, Big City” appeal of Kierland Commons. Located at 15051 North Kierland Blvd, Suite 210, we are in the midst of this big city flavor, high energy driven retail and dining...
iPad App For Financial Advisors Available For Free
[pullquote]It is vital for financial advisors to have applications like goalGetter...[/pullquote] The “goalGetter” app, a financial planning application by Advisor Software, is now available for free download from Apple’s App Store. Advisor Software, a Walnut Creek,...
BofA Merrill Lynch Restructures Wealth Management
In order to better address clients’ needs and reduce management layers, BofA’s Merrill Lynch wealth management executive John Thiel outlined a new structure which will include eleven new regional markets. The decision to restructure the regions from four to eleven has...