Financial Advisor Magazine April 2012 issue Wirehouses Still King Of The Hill Despite headlines about breakaway brokers and the ascendency of the independent, fee-based advisory model, the Big Four wirehouses are still holding their own. According to Cerulli Associates, wirehouse firms remain the best-capitalized segment in the advisory industry, notwithstanding the hard times that have [...]
In fact, 92% of High Tower’s financial advisors have been picked off from traditional wirehouses according to Charles Roame, CEO of Tiburon Advisors. Last week at the Tiburon CEO Summit XXII in New York City, Roame told the audience of financial executives that the breakaway broker trend of advisors leaving traditional wirehouses for independent firms [...]
OnWallStreet’s Elizabeth White reports that Edward Jones conducted a poll of 1,000 American investors and found that investors want to see the traits of military veterans in their financial advisors. Edward Jones employs more than 1,300 veterans or 11% of their workforce as financial advisors. According to Jim Weddle, managing partner at Edward Jones, “Since [...]
FINRA‘s proposal to change how broker complaints are expunged from CRD’s Broker Check at least offers the financial advisor some recourse on having “meritless” complaints removed from their record. Prior to the current proposed changes, the broker who was not represented through arbitration channels had no way to protect their reputation from these types of [...]
From the Reuters report to OnWallStreet on March 28, according to some financial recruiters with knowledge of what UBS offers, the company has offered up to 215 percent of a broker’s annual trailing revenue production upfront. (Rivals offer between 160 percent and 195 percent.) These aggressive recruiting packages at UBS include performance target bonuses [...]
