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Brokers described the product as a low-fee managed account that complies with the forthcoming rule’s near-ban on commissions for retirement sales.

Top News This Week On AdvisorHub

“While the managers are slumming it at the Waldorf…”

Pershing LLC, the largest clearing firm for broker-dealers and a major custodian for registered investment advisers, is about to name a new chief executive.

Oppenheimer & Co., which has been battling regulatory fines, advisor attrition and complaints about poor technology, has lost a brokerage team in Atlanta to UBS Wealth Management Americas.

It’s been a helluva start to a new year at Morgan Stanley Wealth Management, but the new co-heads of the world’s biggest brokerage firm are telling their lieutenants, “Hey, don’t worry.”

The compact wealth management business of Jefferies Group grew a little smaller this week as a three-man team generating more than $4 million of revenue left.

The tab is rising on UBS Wealth Management Americas’ broker loan program, thanks to its massive recruiting push in the fourth quarter.

Cetera Financial Group has infuriated some advisors with the revelation that it plans its own bankruptcy filing by late next month.

The consolidation taking place among independent broker-dealers is a symptom of the pressures that industry faces with rising costs and regulation, but the other issue is trying to serve different broker-dealers with different cultures and ways of doing business all under one umbrella.

The dinero-dollar exchange is now in full swing at Morgan Stanley, as it begins signing many of the Latin American producers being let loose by Credit Suisse.

Regional broker-dealer Stifel Nicolaus & Co. has jumped into the “feeding frenzy” for former Credit Suisse advisors following the Swiss bank’s decision to shutter the unit.

Top stories of the week.

Attention, private bankers and upper-high-net-worth brokers!

Notwithstanding a new numbers-focused boss and a raiding claim from a competitor, UBS Wealth Management Americas continues to reel in well-heeled advisors.

Charles Schwab Corp has set an ambitious goal of overseeing $3 trillion of client assets within two years.

Now it’s time for the backlash.

Dawn Bennett, an independent broker and advisor for almost 30 years, is boycotting an SEC administrative proceeding accusing her of fraud, saying the process is unconstitutional.

Our squib about the challenges of selling portfolio-based loans to wealthy clients is triggering sympathy for support staffers who prepare loan documents and referral papers.

UBS Wealth Management Americas is once again thumbing its nose at Credit Suisse and Wells Fargo.

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