Bank of America-owned broker creates new roles and titles to encourage sales associates to take on broader roles and consider becoming advisors.
Brokers are concerned they won’t be reimbursed for money deducted as a pretax benefit from their pay because of Covid-19 restrictions on trips, meals and other entertainment.
Houston’s Alexandra VanMeurs was the second multi-million-dollar woman producer to join Morgan Stanley from UBS in the past week.
Online brokerage giants say they disclosed additional information about valuation of the $26-billion deal in return for plaintiffs’ agreeing to dismiss eight federal suits.
The Financial Industry Regulatory Authority’s crackdown on allegedly shoddy sales of Unit Investment Trusts hit Stifel Nicolaus on Thursday, which agreed to pay more than $3.6 million for issues related to premature UIT rollovers.
Leaders of the biggest financial companies are getting more optimistic about an economic rebound as the pandemic lockdown eases, but say recent stock gains might have overshot reality.
Stock market gains haven’t changed Merrill clients’ retreat to low-yielding cash deposit accounts, says Merrill Wealth President Andy Sieg.
The coronavirus pandemic has caused Goldman to slow down plans to expand its wealth force and to introduce a new digital service for less wealthy investors.