Already a Financial Advisor IQ Reader?
Log in
October 29, 2020
Text
UBS Americas Tweaks Some Managers’ Comp: Raises Fixed Salaries, Cuts Bonuses
After a “competitive market review,” certain salary levels were adjusted to “remain competitive,” according to a source.
More FAs Are Willing to Work with Clients on Hourly or Annual Fees
Wealth managers are increasingly willing to deviate from the industry-standard asset-based fee to work with a broader range of clients, according to CNBC.
RayJay’s Recruiting Back Up, Private Client Group Client AUA Up 11% YoY
But the firm’s pre-tax income during the its fiscal fourth-quarter was 13% lower year-over-year.
Ameriprise Adds 99 Experienced FAs in Q3, Client Assets Up 9% YoY
Nonetheless, the company saw a 19% drop in pretax adjusted operating earnings year-over-year.
Video
Cetera Exec: 'Our Pool of Candidates Has Expanded'
John Pierce, head of business development at Cetera Financial Group, says the pandemic has made the industry rethink technology, mental health, productivity and affiliation models, among other things. 
Video [ 3:56 ] Transcript
Video [ 3:56 ] Transcript
Stifel’s FA Hiring Recovers in Q3, Helps Boost Securities Lending
Demand for residential loans and refinancing from wealth management clients also increased.
Waddell & Reed’s Wealth Unit Assets Up 10% YoY
The company’s advisor count inched down, although advisor productivity continued improving.
Advisor Group Launches Financing Program for Continuity and Acquisitions
The company has also launched an education program aimed at training financial professionals in preparing and structuring M&As.
Wirehouses Guide Clients Through Election Scenarios
UBS, for example, is advising clients to steer clear of “sweeping changes” to their portfolios. Others are focusing on portfolio rebalancing and tax implications.
New Bill Aims to Add Flexibility to Retirement Savings
The bipartisan Securing a Strong Retirement Act of 2020 aims to build on the 2019 Secure Act.
On FinancialTimes.com