Conventional wisdom says that 'Old Guard' financial advisors from established Wall Street firms like UBS, Morgan Stanley, Merrill Lynch and Wells Fargo are doomed when it comes to the great wealth transfer soon to fall to the millennial generation.
Mercer Global Advisors revealed on Wednesday that it has become one of the first independent RIA signatories to the United Nations’ Principles for Responsible Investment.
The firm has created a new 'continuous improvement' department and invested in a new platform to collate advisor feedback from surveys, in-person interactions and social media.
Wells Fargo & Co. said Wednesday that it has promoted Jim Hays to president and head of Wells Fargo Advisors.
Wellborn, the head of wealth management at Comerica Bank, will lead Wells Fargo's private bank and Abbot Downing.
Michelle Rudd will join the firm from Wells Fargo, where she managed $500 million in client assets.
The San Francisco-based brokerage firm is in talks to buy USAA’s brokerage and wealth-management operations for roughly $2 billion.
Bank of America Corp.’s Cathy Bessant is among executives who remain in talks with Wells Fargo.