Seeking to reduce disruption after a year turned upside down by the Covid-19 pandemic and market volatility, firms will not make major changes to next year’s comp plans, consultants say.
Wells Fargo & Co. has started its long-awaited job cuts, breaking with some of its top U.S. competitors that have resisted workforce reductions amid the coronavirus pandemic.
After a six month delay aimed at providing brokers with relief from potential pay cuts during the fallout from the coronavirus, the firm confirmed it is moving forward with its grid adjustments as planned.
Boom in potentially risky behavior can be an opportunity for advisors to prove their value with behavioral coaching and guidance for clients looking to make speculative plays, according to a Cerulli study.
Topeka, Kansas broker paid customer $2,500 to resolve a complaint that her account declined in value after the broker delayed in closing the account during the March market crash.
Nation’s biggest employer of brokers lifts freeze on raises that were imposed at the start of the pandemic, but continues new-advisor training halt and ban on overtime pay to branch and home-office employees.
Citing the global pandemic and its economic consequences, Florida-based firm outlines plans to cut costs broadly to generate “significant efficiencies.”
Market appreciation and assets from Goldman’s 2019 purchase of United Capital boosted wealth revenue from a year ago, but it was off 9% from first quarter on Covid effects.
Higher-than-expected credit provision bankwide hurts wealth unit, which also continued to dribble advisor headcount despite intensified recruiting efforts.