BofA Boss Pokes The Bull; Insults Merrill Lynch Advisors On Earnings Call
During the company’s third quarter earnings call on Tuesday, Bank of America’s Chief Executive, Brian Moynihan, highlighted the bank’s Global Wealth division as its least efficient unit, stating that significant efforts are underway to ameliorate this situation. He pointed out that the co-heads of Merrill Wealth Management, Lindsay Hans and Eric Schimpf, are fully engaged […]
Tracking 2024 Comp Plan Reveals (Pt 1)
The mostly sideways financial markets this year have left many advisors wondering what their comp plans are going to look like in 2024. Now, they have a much clearer idea. Over the last week, AdvisorHub has shared news from Morgan Stanley, J.P. Morgan Advisors, and Merrill Lynch, all of which gives advisors more intel about […]
LPL Makes Moves On Mid-Career Advisors
Are you a mid-career advisor looking to get back to the parts of your business that you enjoy the most? Then it is worth noting that LPL, flush with capital, is shifting its gaze in your direction with some interesting moves. In fact, LPL is jumping in with both feet to recruit such professionals, according […]
LPL Expands Liquidity And Succession Support
LPL has been making a big push on the recruiting front over the last few months. The firm has been revamping its offerings in non-traditional ways as a means to attract new advisors and assets. Their latest efforts include the offering of liquidity and succession support to financial advisors three to seven years away from […]
Annual Advisor Transition Survey Live Now
Annual Transition Survey Now Open 3xEquity is proud to announce the launch of our 4th Annual Advisor Transition Survey (click here). Over the years this survey has helped advisors who are considering a move gain confidence by developing a shared pool of knowledge on the transition experience from securing offers through moving assets. The Significance […]
Unpacking Morgan Stanley’s 2024 Comp Plan
With the third quarter of 2023 in our rearview mirror, now is the time when firms start outlining and announcing their compensation plans for 2024. Morgan Stanley is the first to release their Comp Plan to their nearly 15,000 brokers, with the official announcement having come in the last week of September. After making minimal […]
The ‘Perfect Storm’ For Recruiting Deals Continues Unabated; Not Slowing Down
Does anyone remember the recruiting pause about five years ago associated with the possible move to a fiduciary standard industry-wide? Feels like ancient history, doesn’t it? Yes, yes it does. Fast forward a half decade or so and what does the landscape look like now? Client assets have more than doubled over that timeframe; meaning […]
LPL Keeps Trying To Eat This Firm’s Lunch
It’s been a big year for LPL on the recruiting front. Despite a recruiting slowdown across the industry in the first half of the year that saw the lowest levels since the credit crisis, LPL has seemingly climbed to the top, especially in their efforts to get talent from Securities America Inc. In the first […]
Navigating The Future Of The Financial Services Industry
It’s no secret that the financial service industry is constantly evolving with new trends, new technology, and new niches constantly popping up. While staying current with the latest and greatest can be easier said than done at times, it’s necessary to try and stay competitive—if not one step ahead. The CFA Institute has recently established […]