Jason Diamond Quoted – By DJ Shaw – Advisors considering a move to a new firm want to feel supported and encounter less red tape, according to industry executives.
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Wall Street’s Still Hiring: Here’s where 14 recruiters say the jobs are, from multi-strategyhedge funds to fintechs
Louis Diamond Quoted – Business Insider – Goldman Sachs, BlackRock, and BNY kicked off 2023 with layoffs affecting as many as 5,000 workers.
Mindy Diamond Quoted – By Victoria Zhuang, Financial-Planning.com – Merrill Lynch will not offer a way for financial advisors to independently affiliate with the Wall Street giant, even as industry competitors open up that burgeoning business model, Merrill’s wealth management head said Thursday.
Louis Diamond Quoted – By Hayley Cuccinello, Business Insider – Goldman Sachs posted its worst quarterly results since the pandemic on January 17. With dealmaking at a standstill, investment banking fee revenue plummeted to $1.78 billion in the fourth quarter of 2022, down 48% from a year ago.
Louis Diamond Quoted – By Mark Schoeff Jr., InvestmentNews – If advisors who have less than a certain ownership threshold are free to leave an acquired firm, it could give buyers pause.
Louis Diamond Quoted – By Glenn Koch, FinancialAdvisor IQ – The Federal Trade Commission last week proposed a rule that would prohibit employers from imposing noncompete contracts on workers.
Louis Diamond Quoted – By John Manganaro, ThinkAdvisor – As the wealth management industry prepares to tackle a new and potentially very challenging year, more advisors than ever before are seeking counsel and clarity on the next phase in their careers.
Commonwealth cuts RIA custody fee, toggles Fidelity and Schwab as sub-custody and co-custody partners, and explains why its model puts $1 trillion of (mostly) RIA assets in reach
Louis Diamond Quoted – By Brooke Southall and Oisin Breen, RIABiz – Fresh off three-year hiatus, Wayne Bloom framed his Waltham, Mass. IBD as both a big, national RIA and a custodian to smaller ones but also promises to ‘remember where you come from’ — namely a commission-based brokerage beginning.
Louis Diamond Quoted – By Glenn Koch, FinancialAdvisor IQ – The industry will need to hire 70,000 new staff over the next five years to sustain its growth, according to a Schwab study that lays out non-monetary perks firms are promoting to attract and retain talent.
Home Office News: Wires Hang Help-Wanted Signs (Experience a Plus!); Alts at LPL; Morningstar’s ESG Analytics
Louis Diamond Quoted – By Julie Daclag, FinancialAdvisor IQ – A roundup of key updates from major broker-dealers, registered investment advisors, custodians and other distributors.
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