News
This Week’s Top 5: Merrill Targets Seasoned Brokers in Key Markets, J.P. Morgan Advisors Replaces CEO, and More
Focus Financial Cuts Exec Comp, CEO Pay Falls 16.6%
CEO Rudy Adolf’s total compensation package was valued at nearly $5.7 million in 2020, down from $6.8 million the previous year.
Morgan Stanley Net New Assets Hit Record $105 Billion in First Quarter
Net new assets rose 43% from the prior quarter and 185% from a year ago thanks to new self-directed and workplace clients and asset aggregation by traditional brokers.
Rockefeller Lures $2.2-Million Merrill Team in Michigan
The four-person Low Group in the Detroit suburb of Bloomfield Hills, Mich., left Merrill on Friday
Morgan Stanley Burned by $911 Million Hit on Archegos Blowup
Morgan Stanley surprised investors with a $911 million loss tied to the collapse of Archegos Capital Management, staining what was otherwise a record quarter for revenue and profit.
Morning Brief: Robinhood Sues after Massachusetts Revokes B-D License
Top stories from around the web.
UBS Hires $3-Million J.P. Morgan Advisors Duo in NYC
Manhattan-based brokers Matthew Hoffman and Scott Rappaport, who managed a $1.4 billion book at J.P. Morgan, moved a block north on Park Avenue to UBS.
Wells Fargo Father-Son Team Accused of Concealing Assets in Divorce
California broker John Draper and his son Derek transferred and hid family assets after Wells failed to freeze accounts, according to the lawsuit filed by Derek’s ex-wife.
Merrill Looks to Selectively Recruit Veteran Brokers: Exec
Signs of a thaw in the firm’s three-year recruiting freeze come in wake of 3% decrease in total advisor ranks for parent Bank of America.
Morning Brief: Gensler’s Confirmation Ushers in New Regulatory Era
Top stories from around the web.
D.A. Davidson Nabs $2.6-Mln Truist Team in Virginia
The three-advisor, legacy BB&T Securities team had managed $400 million in client assets at Truist in Virginia’s Shenandoah Valley.
J.P. Morgan Taps Phil Sieg to Lead Traditional Brokerage Group
Sieg, who had been running practice management for almost a year and is brother of Merrill wealth head Andy Sieg, takes the reins from Chris Harvey.
