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Raymond James adds 200 advisers in fiscal 2017

October 26, 2017

Raymond James Financial's net addition of 200 advisers, to a record 7,346, helped it post record revenue and net income for its fourth quarter, ended Sept. 30, and its fiscal year. The company said that the growth of assets in fee-based accounts,...

Ameriprise attracts 88 advisers in third quarter

October 25, 2017

Eighty-eight advisers joined Ameriprise Financial Inc. from other firms in the third quarter, in addition to 215 who joined the firm as part of the acquisition of Investment Professionals Inc., Ameriprise said in announcing its third-quarter...

U.S. companies having best earnings season in 13 years

August 11, 2017

Overseas demand is driving the best earnings season for U.S. companies in 13 years, with top executives from Dow Chemical Co. to Morgan Stanley citing rising foreign sales, a dynamic that should help propel gains in the second half. With nearly...

Raymond James looks to replicate recruiting success on West Coast

July 28, 2017

Go West, young adviser. That was the message of Paul Reilly, CEO of Raymond James Financial Inc., during Thursday morning's earnings call with analysts. An analyst asked Mr. Reilly about the company's recent success in recruiting in the Northeast...

LPL's head count drops by almost 100 advisers in 2Q

July 28, 2017

LPL Financial, a recruiting powerhouse, said today it lost nearly 100 advisers since the end of March, reducing its head count of brokers and advisers to 14,256. That's down 98 from the end of the first quarter but an increase of 63 over the...

Raymond James CEO Paul Reilly talks taxes and the firm's earnings

April 27, 2017

President Donald J. Trump's proposal this week to cut the tax rate to 15% for pass-through businesses, under which many independent financial advisers operate, "came out of the blue and was a surprise" and, if enacted, would be a boon to those...

With DOL fiduciary rule looming, Merrill sees surge of AUM

April 18, 2017

Merrill Lynch, Bank of America's wealth management business, saw a surge in advisory assets in the first quarter of 2017, months after the company said it was eliminating charging commissions in new retirement accounts as a response to the Department...

Wells Fargo scandal cost the bank another 225 reps

April 13, 2017

The fallout surrounding Wells Fargo & Co.'s infamous practice of opening checking and credit accounts that customers didn't know about continues to hurt the bank's reputation, but apparently not it's bottom line. The first-quarter earnings report,...

European stocks far cheaper than US stocks

February 10, 2017

If you're looking for cheap stocks, Europe is the place to go, says Bank of America Merrill Lynch. But political and sovereign debt risks are one reason Europe is so cheap. In a paper released Thursday, titled "Europe vs. U.S.: The earnings...

LPL reports robust recruiting in 2016

February 9, 2017

After a slow start to recruiting in 2016, LPL Financial Holdings Inc. picked up steam and on Thursday afternoon it said had added net 323 financial advisers in 2016, a 2% increase when compared to the number of advisers at the end of 2015. At...

Clean shares could revolutionize the fund industry

February 2, 2017

Clean shares will be an enormous game changer for mutual funds and the investment advisers who sell them. “Clean shares” — a term borrowed from England — separate out the fees for mutual fund distribution from those for investment management....

Morgan Stanley advisers hit revenue record in fourth quarter

January 17, 2017

Morgan Stanley's 15,763 advisers hit an all-time best in productivity during the fourth quarter of 2016, generating average annualized revenue — fees and commissions — per adviser of more than $1 million. The firm's wealth management unit...

Will Trump's tweets continue to move markets — and is that a good thing?

January 12, 2017

President-elect Donald Trump proved he can move markets, but how persistent the Trump effect will be remains to be seen. Mr. Trump said at his press conference Wednesday that pharmaceutical companies were “getting away with murder” on drug...

Here's why your clients probably didn't beat the S&P 500 in 2016

January 3, 2017

Your clients had a great year in the stock market. But their first question might be, “Why didn't we get as much as the S&P 500?” The Standard & Poor's 500 stock index gained 11.96% with dividends reinvested in 2016, despite a rough start:...

Alternative energy funds have dim prospects under a Trump presidency

December 27, 2016

One thing you can learn from the Trump presidential victory: Making bets on the fallout is anything but certain. For example, President-elect Donald Trump has promised to bring back coal. Investors don't believe it. VanEck Vectors Coal ETF (KOL),...

Outlook for 2017: Strategists from Vanguard, Fidelity, Franklin Templeton, Ameriprise, BlackRock and others weigh in

December 20, 2016

Economists make predictions because people ask them to, and the same holds true for market strategists. Here's a roundup of predictions for 2017 from major fund companies and brokerages. VANGUARD: JOE DAVIS, CHIEF GLOBAL ECONOMIST, AND TEAM...

Research Affiliates' Rob Arnott: 3 reasons you should throw your hat into the emerging-markets' ring

December 19, 2016

Research Affiliates' CEO, Rob Arnott, thinks emerging markets are a hat trick: An unusual three-way combination of low valuations, depressed currencies and strong momentum. Mr. Arnott first made his recommendation for emerging markets back in...

Looking for consistent top performance? Most active funds don't have it

December 15, 2016

If the fund industry was hoping for breakout performance from actively managed funds, its hopes were once again dashed by S&P Dow Jones Indexes. “It's the persistence of nonpersistence,” said Aye M. Soe, Senior Director, Global Research...

How to keep clients from going wild when the Dow hits 20,000

December 14, 2016

As the Dow Jones Industrial Average closes in on 20,000, analysts are talking about animal spirits — specifically, bullish ones — returning to Wall Street. Are your clients clamoring to charge into the market? What do you tell them? First,...

Muni funds take on water as rates rise

December 5, 2016

Municipal bond funds are starting to sink as interest rates rise. The yield on the benchmark 10-year Treasury note has soared from a low of 1.37% July 8 to 2.40% Monday, sending bond prices plummeting. Municipal bond funds, whose interest is...

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