Updated Monday, July 28, 2014 as of 6:26 AM ET
UBS Tops Ranking of World’s Wealth Managers for Second Year
July 17 (Bloomberg) -- UBS led a ranking of the world’s biggest wealth managers for a second straight year as asset growth more than doubled among the top 209 firms, a study showed.
Assets under management at the Zurich-based lender rose 15% to $1.97 trillion, cementing its No. 1 spot in the ranking by Scorpio Partnership, a London-based consultancy. Bank of America was second with $1.87 trillion, followed by Morgan Stanley, Credit Suisse Group and Royal Bank of Canada, all unchanged from a year earlier.   more »
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The deal creates a new powerhouse wealth management firm, consolidating approximately $9 billion in assets from both Banyan and Boston Private Bank & Trust. more »
Richard Gill's departure from Focus follows the exit last month of Michael Paley, who co-led the firm's mergers and acquisitions team. more »
When is it ok to borrow from your 401(k); Picking the best pension payout; Paying long-term care with HSA money more »
Roughly three in four advisors said they were likely to seek out additional support, content or tools related to Social Security in the next year. more »
With the acquisition of broker-dealer McAdams Wright Ragen complete, Baird has grown to more than 800 advisors and $125 billion in assets. more »
Morgan Stanley has lost a team that generated $3 million in annual revenue to Steward Partners Global Advisory, boosting the eight-month old independent firm's total recruited assets to more than $1 billion. more »
David Campanella will lead a team of wealth management professionals serving high-net-worth clients in Cleveland and Columbus. more »
Considering alternatives to retiring; Managing an old 401(k); What to do when retirement accounts are maxed out more »
Last year's push by some lawmakers to rein in the big banks may have lost steam, but an imminent GAO report and committee leadership changes could give the issue new life. more »
Ameriprise enticed away a Morgan Stanley advisor who generated $1 million in annual revenue, according to a spokesman for the regional broker-dealer. more »
Immediate annuities surge, but lag other types; Never too late to plan; Different opinions on 4% rule more »
Goldman Sachs has started a European lending business for its wealth-management clients and is seeking a $5 billion loan book within three years. more »
What's driving this new interest? Follow the money: U.S. retirement assets totaled $23 trillion in the first quarter of this year. more »
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