Morgan Stanley (MS.N) has promoted its head of institutional securities, Colm Kelleher, to president, prompting Greg Fleming, the head of wealth management, to leave the bank.
Gorman sent a firm-wide memo on Wednesday announcing Kelleher’s pro...
Wealth advisory services for high-net-worth clients is still considered the biggest opportunity for firms, despite an increasingly challenging environment. Last year, about 22 percent of advisors reported they primarily focus on clients with...
RCS Capital (RCAP) said Monday it intends to file for prearranged Chapter 11 bankruptcy by the end of the month and has negotiated a $150 million investment from its lenders to keep Cetera Financial Group’s doors open. Once RCAP emerges from...
If there was one phrase to sum up 2015’s M&A activity in the RIA space, it would be “go big, or go home.” It has been the year of the “mega-deal”—those over $5 billion, according to David DeVoe, managing partner at DeVoe ...
In today’s M&A-rich environment, many advisory firms are looking to get in on the action. But most would-be buyers and sellers come up empty because of unreasonable expectations...
While there are few changes in compensation structures brokers with Wells Fargo Advisors in 2016, the firm is implementing a new program that will pay reps to get rid of their smaller clients...
The independent advisory industry needs to find the collective will to create its own self-regulatory organization in order to avoid the possibility of coming under the heel of FINRA, according to Andrew Wels, chief regulatory counsel at legal...
