The Practice: Fees and compensation

January 15, 2021

Wells Fargo FA Count Down 6% But Client Assets Up 6% YoY
The company saw healthy growth in net income in the last quarter of 2020 but it wasn’t enough to offset poor results earlier in the year.

Last Comment: January 15, 2021
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January 15, 2021

Wealth Enhancement Group to Buy Connecticut RIA
Danbury, Conn.-based Reby Advisors manages around $727 million in client assets.

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January 15, 2021

JPMorgan Asset and Wealth Mgmt Assets Up 17% YoY But Net Income Down
The unit ended December with 58 fewer advisors than it had three months earlier.

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January 14, 2021

More Advisors Are Charging Separate Financial Planning Fees. Here’s Why
For clients, the benefits include a clearer explanation of what they are paying for; for advisors, the benefits include a stable source of revenues, according to industry executives.

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January 14, 2021

Edward Jones FA Count Up 3%, Client Assets Up 15% YoY
Meanwhile, net revenue rose 7% and net income shot up 18% from 2019.

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January 13, 2021

Wells Fargo Launches New Office of Consumer Practices
The new office’s responsibilities for wealth management will include advising on product terms, features, pricing, disclosure and training materials.

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January 13, 2021

Raymond James Slashes Top Execs’ Pay by Millions of Dollars
The company is keeping salaries the same but is cutting cash bonuses for Paul Reilly, chairman and CEO, as well as several other executives.

Last Comment: January 13, 2021
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January 13, 2021

Wells Fargo Wins $3M Arbitration Award from Ex-Broker
John Gregory Schmidt has already been barred by Finra, settled with the SEC for more than $1 million and received a five-year prison sentence.

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January 11, 2021

Deferred Comp Pits FAs Against Wirehouses
While firms tend to value deferred compensation plans, they often end up feeling like “golden handcuffs” to advisors, says one recruiter.

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January 11, 2021

Ex-Senator Urges Biden SEC to Outlaw Order Flow Payments
Carl Levin writes in the Financial Times that high-speed traders must be getting better prices than what they’re offering the customers of brokerages they’re paying for the orders.

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