Updated Friday, July 11, 2014 as of 4:53 PM ET
Employees vs. Independents
At a recent dinner at a friendís house, I was introduced to a business owner who had just sold his company for $7 million dollars. The newly wealthy gentleman, letís call him ĎDave,í confessed that he had no idea how to get started investing his money. He wanted to know how advisors get paid, along with the differences between the firms and their relationships with their advisors. In other words Dave, like so many other neophyte investors, was in need of a primer on the wealth management industry, its peculiar lingo and how it works.
Our conversation went something like this:††   more »
More in Career Moves
Five years later, Julius Baer's CEO makes his mark, turning Switzerland's third-largest wealth manager into a global business spanning Europe, Latin America, the Middle East and Asia. more »
American Realty Capital Properties' Nicholas Schorsch will step down as CEO in October and be replaced by President David Kay as part of governance changes at the largest single-tenant landlord. more »
Mike Quimby will lead a team of more than 30 financial advisors and will help drive growth across the bank’s central region markets in six states. more »
Georges Chodron de Courcel’s resignation after more than 40 years at BNPParibas SA won’t soften U.S. demands for a guilty plea and a $10 billion penalty from the French bank for sanctions violations, according to a person familiar with the matter. more »
The promotion is the latest step in the firm’s organizational expansion throughout Florida. more »
The bank has added two senior portfolio managers to its investment management team. more »
Industry changes mean branch managers risk more but earn less. more »
Jason Stamm will lead a team of more than 350 investment, trust, private banking and financial planning professionals. He succeeds Mike Ott, who was recently named president of the business nationwide. more »
Wells Fargo lost four advisors to regional firm Benjamin F. Edwards, but the wirehouse picked up six advisors collectively managing more than $500 million in assets. Meanwhile, UBS recruited a former Merrill advisor with $500 million in assets. Click through our slideshow to see these and all the latest moves, hires and promotions. more »
Allison Couch's newly created role focuses on sales and distribution strategies across one of the industry's largest broker-dealer networks. more »
City National Bank hired five wealth management pros in its private client group in California’s central coast region. more »
Ben Pace, Deutsche Bank AG’s chief investment officer for wealth management in the Americas, is leaving, according to two people with knowledge of the matter. more »
Formerly affiliated with MassMutual Financial Group, Joe Esposito and Keith Kiker will bring more than $150 million in client assets to Commonwealth. more »
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