ML Launches Early CTP Program
Merrill says a big announcement is coming - hearing it could be about rolling out early retirement offers to entice senior advisors from leaving. Morgan and UBS already do this, it would be expected Merrill follow suit any day now
Sactuary Wealth to buy tru-Independence?
press is quoting inside sources that deal could close as soon as April2024. If it does, would allow Sanctuary to expand their offering to existing RIAs and their multi-custodial platform.
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.
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.