Goldman Sachs, along with the investment-banking divisions of six of its biggest U.S. and European rivals, allocated a collective 39% of revenue for compensation in the first nine months, down from 42% a year earlier and the 50% some firms earmarked before the financial crisis. Goldman Sachs's 41% ratio so far this year is its lowest nine-month figure as a public company.
Bond giant Pacific Investment Management Co. has hired a new global head of equities, replacing Neel Kashkari, who left the company at the beginning of the year to pursue a political career.
We all want to give exceptional client service.Unfortunately, the belief that superior service must include instant access can be detrimental to both you and your clients.
Gen Xers and Millennials approach financial advice differently than their parents. Advisers need to learn what makes them tick to hold onto the family's assets.
With a shortage of advisers facing the industry, the cost to keep them will continue to go up, Fidelity's Waldemar Kohl said. The median compensation cost per lead adviser has grown to $174,000 this year from $165,000 in 2009, according to numbers presented at the conference. And personnel costs make up about 70% of adviser expenses.
A group of veteran Morgan Stanley managers has broken away from the wirehouse to form a partnership with Raymond James to offer equity ownership and succession planning to advisers.
Anyone who thinks they have busy days should listen to Chris Pollard's tale. This Regent Wealth Management Group financial adviser spent a year activated in the Army National Guard as a budget analyst by day — while serving his 100 advisory clients at night and over the weekends.
Cerulli study forecasts a drop of more than 25,000 advisers by 2017, most from wirehouses and broker-dealers. The problem? A lack of new recruits.
Recent moves point to building momentum after year and a half of sluggish action
Financial firms asked to shorten the time it takes to recover from an emergency.
Advisers encouraged to increase disaster preparedness following Superstorm Sandy
Arizona group of about 40 financial advisory practices joins LPL. The network's founder is looking to add 50 new offices next year.
UBS hires father-son adviser team managing $144M from rival wirehouse Morgan Stanley Wealth Management.
Ohio Securities Commissioner Andrea Seidt is concerned that the Securities and Exchange Commission is getting bogged down.
When your clients wake up in the middle of the night with sweaty palms, what are they afraid of? What is it they ultimately want you to protect them from?
