The Practice: Succession planning

Morgan Stanley to Make ‘Modest Cuts’ of Staff, CEO Says

December 2, 2022No Comments

James Gorman said the firm will let “some people” go “all over the globe,” without specifying numbers.

Acquisition-Happy Mercer Aiming to Be ‘Mayo Clinic’ of Wealth Management

November 23, 2022No Comments

CEO Dave Welling told the Denver Business Journal that half of the firm’s current employees joined via acquisitions.

RIA Space Seeing Plummeting M&A Activity in Q4, DeVoe Report Says

November 21, 2022No Comments

The last three weeks of October saw 81% fewer deals than the trailing 12-month average.

Lawsuit Reveals the Big Money, Competitive World of Life Insurance Agents

November 18, 2022No Comments

An agent said he lost $1.58 million after New York Life fired him over a case involving a replacement annuity. The abrupt termination aimed to prevent him from moving clients to Ameriprise, he claims.

UBS’ Risk Chief Steps Down from Finance to Focus on Photography

November 9, 2022No Comments

The wealth management division’s risk boss, Damian Vogel, will succeed Christian Bluhm in May.

Finra Flags an Increasing Need for Succession Planning

November 4, 2022No Comments

A new guidance document urges member firms to adopt comprehensive succession strategies, warning that the pandemic and demographic trends are likely to accelerate leadership transitions.

Bonuses Fly Under the Radar of NYC Pay Transparency Law

November 4, 2022No Comments

A law that took effect Tuesday requires New York employers to list salary ranges for the jobs they advertise, but bonuses are not included. The omission puts minorities and women at a disadvantage, some say.

Oppenheimer Fortifies Its Nashville Branch with Acquisition

November 2, 2022No Comments

The firm plans to expand into the nation’s emerging economic markets.

Ameriprise Banks on Institutions to Boost Advisor Ranks

October 27, 2022No Comments

The firm is also focusing on recruiting younger advisors to help with succession planning, according to chairman and chief executive officer Jim Cracchiolo.

FAs Weigh In: Transitioning Clients Through a Merger or Acquisition

October 26, 2022No Comments

“Clear, concise communication at every stage prepares clients for an upcoming transition,” says one advisor whose firm was recently involved in a merger.