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Rumors

Merrill Lynch to go non-protocol?

Protocol details the specific standards and ground rules that must be followed to take advantage of protections to avoid litigation and potential liability issues when brokers take information with them when they leave a firm.

New Edge Financial to Attract Top UHNW Teams

Sophisticated advisors seeking independence have been flocking to New Edge for an independent UHNW solution.

The Exodus Out of Merrill Lynch to Continue

Each week it seems we learn of another big departure out of Merrill usually either to UBS or to an independent platform. Within 5 years, will wealth management even be a thing at the former Mother Merrill?

Independent RIAs to Dominate International Wealth Management Space?

Morgan Stanley has been under pressure for years from the SEC. Merrill is still standing. Will big firms stay in the game or will independent RIAs take over the space such as Sanctuary Global?

Morgan Stanley to Keep the Focus on Wealth Management

“The wealth business is actually in my blood,” said Pick, the CEO successor to James Gorman. “My dad and my father-in-law were both brokers once upon a time and I grew up studying that business as a kid.”

Top Merrill Lynch advisor that left for New Edge believes big wirehouse advising will be done for in 5 years.

The main reason advisors leave big wirehouses is because they no longer believe that the can serve the best interests of clients in house. They require autonomy to do best for their clients, and to free their time from bureaucracy to serving clients with the white glove service they've come to know. Will it be 5 years or a bit more? Time will tell but the exodus is underway.

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Rumor: Rockefeller Could Lose A Big Team This Year; “Those guys are a@$&oles…

An interesting piece of intel was sent our way by a source that we trust. The source is connected in the wealth management space and may or may not be a competing executive or a well known recruiter. Either way, the message was a bit startling…

Rumor: David Frame, J. P. Morgan Private Bank CEO, Could Be Removed If Attrition Continues

There was significant chatter over the weekend that an impending reshuffling of the deck chairs at the J. P. Morgan Private Bank is in the offing. The whispers are that the first chair to be ‘shuffled’ could be David Frame, CEO of the J. P. Morgan Private Bank, as attrition isn’t slowing, but rather accelerating on his watch.

Rockefeller Set To Win Big In California And Texas; Announcements Scheduled Throughout The Next Three Weeks

Rockefeller remains a darling firm for larger producers. The elite advisor numbers and tire tread marks that have migrated to the firm in the past year isn’t slowing down, and if anything, is picking up momentum. Geographically, the firm is set to win big in a couple of states that matter to growing wealth management firms: Texas and California.

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