by Patrick M. Kelly | Apr 3, 2014 | RIA, wirehouses
“Recruiting a wirehouse advisor can be well worth the effort for growth-minded RIA firms — but it’s not easy, it takes time and you should expect a lot of false starts.” That’s the message from Neal Simon, founder and chief executive of Highline...
by Patrick M. Kelly | Jan 2, 2013 | Financial Services Industry, Wall Street, wirehouses
Merrill Lynch, Morgan Stanley, UBS and Wells Fargo—need to pay close attention to two areas in order to boost their market share: profitability and financial advisor compensation. “The need for the large firms to increase their hold on the market comes as studies...
by Patrick M. Kelly | Apr 27, 2012 | Financial Services Industry, wirehouses
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...
by Patrick M. Kelly | Mar 19, 2012 | Merril Lynch, wirehouses
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...
by Patrick M. Kelly | Dec 5, 2011 | Wall Street, 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%...
by Patrick M. Kelly | Sep 9, 2011 | Breakaway Brokers, wirehouses
Independent or Wirehouse business practice? During the past two years this has been the big debate in the industry…who’s moving where and what are the pros and cons of each? What misconceptions are being fostered within the two worlds? Are the Wirehouses recruiting...