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Financial Advisers

Latest Headlines

Latest Headlines

Morgan Stanley layoffs in the works?

We've been talking about layoffs for much of the year, and in some quarters of Wall Street, that strange, somewhat familiar pre-layoff ennui has likely set in. People are distracted. They're worried about colleagues who might have been out of their office for a bit too long. They wonder who's

Investment banking ties to private equity raise concerns

Most people would agree that there are myriad conflicts of interest when it comes to investment banking, sales and trading. The recent controversy over CDO practices highlighted some of these issues. For private equity firms and investment banks, the argument tends to be about the anger some o

Financial advisors face Gen X challenge

Does this bode ill for the wealth management industry's future? Gen X do-it-yourself investors reported a 28 percent return in 2010, while those who had a financial adviser reported a 3 percent return, according to a new report from Cogent Research. The research also found that 42 percent of t

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

Perella Weinberg wins big on NYSE deal

So, who says boutiques are struggling? Perella Weinberg Partners "scored one of the biggest coups since the investment bank's founding five years ago by serving as the main financial adviser to NYSE Euronext on its planned merger with Deutsche Bourse ," Bloomberg rep

Bank of America leading Morgan Stanley in brokerage wars?

Who's leading the brokerage wars? At the moment, Bank of America Merrill Lynch (NYSE: BAC ) seems to be getting the best of Morgan Stanley Smith Barney (NYSE: MS ). Here's Bloomberg 's quick take: Bank of America Merrill Lynch, headed by Sallie Krawcheck, produced $315 million more pr

Mutual funds sales to decline

Somewhat lost in the news and worry over financial reform, mutual funds ( mutual fund news) have been on a tear. Through April, a net $187 billion flowed into domestic mutual funds, according to Financial Research Corp. That puts the industry on pace to beat the previous record of $347 billio

Morgan Stanley Smith Barney to pare branches

Morgan Stanley Smith Barney ( NYSE: MS ) continues to consolidate. Expect some 120 "overlap" branches to be closed soon. That will bring the number of retail office outlets to about 750 , compared with 870 domestic locations as of March 31 and 958 on June 30, 2009, according to Bloomberg .

Financial advisors just say yes?

When you boil it down, stock brokers and financial advisors are in sales. They make money by selling stuff, either on a trade or a specific product or a service. Customers are hard to come by, and the last thing you want to do, apparently, is tell them what they don't want to hear, no matter how m

Broker-raid arbitration, a harbinger

We've seen lot of competition for financial advisors as of late, with most of the action focusing on independents or smaller brokerages recruiting from the wirehouses. Wells Fargo ( WFC ) inherited an arbitration case brought by Wachovia's AG Edwards against tiny Stifel, Nicolaus & Co., whic