Sparks fly after FundFire reports that Merrill Lynch and Goldman Sachs are offering some RIAs their corner-office research
The Financial Times publication stands by its story, but Merrill won't comment, making the fiery situation smokier; Goldman is unabashed
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UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture
Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.
July 16, 2022 at 1:35 AM
Farther struts its startup magic and shows why a $375-million RIA can be worth $50 million -- by getting four advisors to bring books of business just to be part of the enterprise
The San Francisco firm claimed its software was at another level and now advisors are betting careers on it, though not of the UHNW variety imagined
November 2, 2022 at 3:27 AM
Goldman Sachs fought the squid, but the squid won as CEO David Solomon puts the United Capital-Ayco RIA back under the control of house asset managers
Solomon acknowledges he's largely reunifying wealth management and asset management to regain synergies after trying to give the in-house RIA agency.
November 1, 2022 at 4:03 AM
Infamous stockbroker resolves civil suit stemming from violent tirade -- the apparent final chapter in an incident that went viral and forever branded him the 'Fairfield Smoothie Guy'
Broker Jim Iannazzo went all out with high-powered attorneys and slick Las Vegas crisis pr team to limit the damage from his actions, but whether he can ever live down the incident remains to be seen.
September 1, 2022 at 5:11 AM
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Nexus Strategy
Consulting Firm
Top Executive: Timothy D. Welsh
CA_RIA
It would be interesting to hear how RIAs are positioning the use of wirehouse research to clients. The ethos of RIAs is generally to be anti-wirehouse —— no commissions, no secret bonuses for pushing in-house products, no sales quotas etc…. all the stuff that is a conflict of interest. There are good, smart people at the wirehouses —- but then there are good, smart people everywhere so paying huge fees is the difference in the end.
If you get ahold of any info on how RIAs are positioning it — that would be interesting. Interesting article — stay on it.
CA_RIA
Jeff Spears
This reminds me of my youth – when my girlfriend would say, “I think we should date around”
There is ALWAYS a prettier boy/girl.
Brokers are just starting to realize this….
