Tag:
commissions
Latest Headlines
Latest Headlines
Fee-based advisors still on the rise
In not much of a surprise, more than half of all financial advisors are now fee-based, concludes a new report by Cerulli. I would have guessed that milestone had been passed years ago.
The number of fee-based advisors rose to 52 percent last year. For comparison, 22 percent of advisors have a
Morgan Stanley Smith Barney to cull low producers
The life of a stockbroker at one of the big wirehouses is not easy, especially if you are just starting out. Let's just say the whole idea of cold calling is not passé at every firm. But if you want to make it in the big leagues, you've got to find a way to produce. If you don't ...
Morgan Sta
Morgan Stanley to hire lower producing brokers
The brokers who are in the most demand in the wealth management and brokerage industry are the big whales, who generate millions a year in revenues for their employers. There's a lot of recruitment activity going on for these guys by wirehouse-type firms as well as independent advisory firms. But
New controversy over wrap accounts
There's long been a big debate over the value of wrap accounts. They were designed to be marketed to investors who had issues with traditional commissions. But they tend to be expensive, very expensive if you don't trade much.
Some new wrinkles on this old issue have emerged with the FINRA com
Morgan Stanley to beef up trading?
It's no secret that Morgan Stanley ( MS ) has lagged Goldman Sachs ( GS ) and JPMorgan Chase ( JPM ) in sales and trading. The Financial Times notes that in 2009, Morgan Stanley had revenues of $5 billion in fixed income trading ($8.8 billion excluding an accounting loss) compared with $
Goldman Sachs earnings to tumble?
Goldman Sachs ( GS ), as you know, really took advantage of the great industry-wide pullback in risk in the wake of the financial meltdown. While other banks scaled back in trading, Goldman Sachs charged forward, and reaped the rewards. The lack of competition led to soaring spreads and fat comm
California sues State Street
"This is just the latest example of how clever financial traders violate laws and rip off the public trust," says the California attorney general. He's referring specifically to State Street, whom the state has just sued to recover $200 million in overcharges and penalties stemming from allegedly
Trading activity still hard to model
It does seem like we're back to the good old days when it comes to top bank earnings. They have always been a bit hard to predict, and the most active traders, whether proprietary or agency, were always the most difficult for analysts to call. That's precisely why even Goldman Sachs ( GS ) was o
Citi embraces a new retail model
Deborah McWhinney, former head of Charles Schwab's RIA has wasted no time imposing a new order on Citi's ( C ) retail services. She has moved the bank to a fee-only model, eliminating brokers who are paid commissions per trade. Such brokers are free to stay with the company, but they will be wor
Morgan Stanley in hiring mode
Get ready for a lot of hiring news. The strong surge in FICC-oriented business has prompted big banks to staff up. According to the AP , Morgan Stanley will add as many as 400 professionals to its trading and sales units this year. About half those jobs have already been filled. So it looks lik
