To bring alternative investments to a wider investor base, Goldman Sachs Asset Management has launched the Goldman Sachs Multi-Manager Alternatives Funds.
Thomas Welch knows theres a better chance he will be fired than retire. So he spent his vacation interning at Merrill Lynch Wealth Management to prepare for a second career to sustain him for the next 40 years.
Breaking into the brokerage business is getting tougher as declining fees make small accounts less profitable and government restrictions on unsolicited calls make phone sales taboo. Thats leaving big firms struggling to replace a retiring generation of advisors.
Goldman Sachs has filed to launch the Multi Asset Real Return Fund. The fund seeks real return by investing in inflation-sensitive assets.
Goldman Sachs has been deficient in linking compensation to company performance, Glass Lewis said in a report, which also opposed the re-election of compensation committee Chairman James A. Johnson. ISS said in a May 8 report that shareholders should vote for Johnson at the New York-based banks May 23 annual meeting.
Morgan Stanley is expanding the types of debt it buys as deposits increase with the purchase of its brokerage venture and interest rates remain near record lows.
The new hires join the firm in Jackson, Tenn., and Mount Kisco, N.Y.
UBS plans to move out of almost three-quarters of the space it rents at Manhattans 299 Park Ave. as it seeks to reduce real estate costs, but the company intends to keep some wealth-management operations in place while moving its investment-banking department to another location.
UBS AG is always looking at all shareholder suggestions, Chief Executive Officer Sergio Ermotti said, after investor Knight Vinke Asset Management LLC called for a spinoff of the lenders investment bank.
UBS promotes regional director John Mathews to help capture growth in the ultrahigh-net-worth market.
UBS AG should consider splitting its investment bank from the wealth management and Swiss banking businesses, shareholder Knight Vinke Asset Management LLC said.
A three-year plan helped the renowned private bank merge with a rival and find its way out of the financial crisis. Now, it's prepared to leverage its resources across Bank of America.
The combination will create one of the largest regional brokerages on the West coast.
The firm has reorganized its branch leadership with two promotions and a new hire from Morgan Stanley.
UBS Wealth Management Americas posted a record profit in the first quarter as it recorded its strongest net new money inflows and cut expenses.
UBS AG reported first-quarter earnings that beat analyst estimates on higher revenues at the investment bank and in wealth management.
Ameriprise tapped the four wirehouses and LPL in its latest round of recruiting.
The firm raised its annual compensation for top executives citing strong company and wealth management performance.
Merrill Lynchs ultra high net worth business, the Private Banking and Investment Group, has snapped up two Morgan Stanley Private Wealth Management advisors in Houston, Texas.
UBS executive Robert Mulholland has a message for professionals in the financial services industry: We are the adults in the room.
Clients are mad as hell and they're not going to take it anymore
unless the industry makes some changes, Stifels top executive told a major industry conference on Thursday.
Financial services firms and advisors are relying on new technology and enhanced training to to take a more holistic financial planning approach with clients.
We got drunk with the performance of the bull market, Thiel told the audience of wealth management professionals at the SIFMA Private Client conference on Thursday. But the world changed and our dialogue, our approach, didnt. It needs to. We need to talk about what our clients goals, concerns and priorities are and map absolute performance to that objective.
Morgan Stanley has hired three advisors from Deutsche Bank, Merrill Lynch, and Wells Fargo who combined for more than $3.2 million in production.
Credit Suisse Group AG said its increasing the proportion of assets under management from super- rich clients, helping to boost profit margins at Switzerlands second-largest wealth business.
J.P. Morgan Securities announced Wednesday it has added eight advisors to its offices in Boston, New York City, and Florham Park, N.J.
Revenue and assets increased year-over-year as the firm began to streamline operations after the Morgan Keegan integration in February.
An arbitration panel has ordered Wells Fargo to pay Stifel $800,000 in the latest dispute over alleged raiding of former A.G. Edwards advisors.
The unit added about $3 billion in fee-based assets over the past few years, with sales going up about 74%.
Wells Fargo now gets a third of its fee revenue from its relatively small investment-management and brokerage businesses. Executive David Carroll explains how Wells is getting more business from its wealthy but not too wealthy customers and is seeking acquisitions in this market.