More than 20,000 independent RIAs in the U.S. increased assets 82% to $2.3 trillion from 2007 to 2013 while assets at largest retail brokerages rose 8.2% to $6.2 trillion.
Dwight Freeney accuses the firm and adviser Michael Bock of leading him into a massive scam. <i>(Plus: <a href="http://www.investmentnews.com/gallery/20130812/FREE/812009998/PH/athletes-vs-advisers" target="_blank">7 athletes who say they were duped by advisers</a>)</i>
The practice is growing quickly even beyond wirehouses, but some are concerned about the risks and conflicts of interest.
Ron DeCicco expects the RIA channel to continue growing while regulatory pressures and higher expenses weigh down broker-dealers.
Managed accounts sold by advisers deflect trend toward lower-fee money management as brokers work to maintain profits: Cerulli.
A former Morgan Stanley broker altered his clients' phone numbers in the firm's system before leaving for Ameriprise, according to a lawsuit
Morgan Stanley won't face Federal Trade Commission action as a result of a data breach that compromised information of some 350,000 clients.
John Thiel's outspoken support of a best-interest standard and the Labor Department's effort puts pressure on peers. <i>(See also: <a href="http://www.investmentnews.com/article/20150414/FREE/150419976/labor-department-proposes-controversial-fiduciary-rule" target="_blank">DOL proposes controversial fiduciary rule</a>)</i>
Training session did not include discussion of fiduciary requirements when commission-based assets are moved to fee-based accounts
JPMorgan is seeking a restraining order against six brokers for allegedly contacting clients and defaming the company.
Morgan Stanley chief James Gorman gets 87% approval rating on Glassdoor.com, tops among wirehouse CEOs. The firm ranked third on Vault.com among the 50 'best' banking companies in terms of quality of life and prestige.
Declines in transaction revenue and slower growth in fee revenue hampered performance.
Currency-hedging ETF strategies are a no-brainer: Merrill Lynch portfolio manager
Agency says wirehouse executed short sales in some stocks even when supply fell short.
A 33-year veteran,Thomas Buck won't fight the wirehouse's allegations and is looking to move on after his sudden, unexpected termination
As markets thrive and wealth management becomes a focus at major firms, brokerage execs like Morgan Stanley's Greg Fleming enjoy bigger paydays.
Industry adds jobs in New York City for the first time since 2011.
New Hampshire Bureau of Securities Regulation says B-Ds do not 'fully understand' how to comply with telemarketing rules.
ETF managers may look to broker-dealers to 'lower the veil' covering advisers.
