I only mentioned AMP because that is the way they do things there.  It is a critical mass game for them.  Also, being an insurance company, a b/d, a custodian with both a quasi-independent branded (P2) and Indy SAI and a bank but lack.  They lack investment banking, and getting the hardware, real estate, infrastructure and the sales force with AUM for a song is what they want.  Wellschovia or BofAmerrill may sell cheap if rules change on fiduciary, since they will want (need by gov’t manipulation) to focus on higher margin businesses such as banking.  Rates being what they are, b/d growth rate is historically 8-12%.  “Banking” services has been a much bigger growth model historically, factor in present rates and voila.  I haven’t a clue who, but AMP will buy before the year is out.

I continue to hear rumblings about AMP making a “big” purchase this year as well. It’s supposedly going to dwarf the HRB acquisition of last year. I asked a couple FVP’s I know at AMP why and what they want. Both said when in Minn. HQ they hear about AMP wanting a much bigger employee based platform and a full service one at that. Acquisition is the fast and relatively cheap way to do that vs. the slow road they’re on rolling out product one cascade at at a time as they’ve been doing it. I don’t know if Merrill is the play, but it’ll be something with major scale and who is left besides UBS?

AMP buying what is left of ML or UBS now that would be an EGO buster for the company blue bloods and the reps that are left.   

LOL funny.  When I was given the spiel of 3 years trailing, 5 year forgivable by UBS just after they bought PW, their big speech to me was the VUL and the VA I could now offer.  HEHEHE. Ironic, I submitted an acat to UBS and the rep on the statement was the same BM who pitched me back then.  Small world I guess.