3xEquity Editorial Team, Author at 3xEquity

Author Archives: 3xEquity Editorial Team

BILLIONS BON VOYAGE: Merrill Advisor Escapes With Billions; Embraces First Republic

Do they even care? And if not, why don’t they care about the billions in client assets abandoning a once-venerable brand on a monthly basis? These questions deserve to be unpacked given the massive exodus away from Merrill Lynch, and … Read More

MORGAN STANLEY MOVE: Client Account Fees To Be Paid Monthly (Is this a pseudo salary move?)

If you are a Morgan Stanley Advisor you shouldn’t be cheering this announcement. Moving client asset management fees to a monthly pay schedule looks like a small net positive for both advisors and clients, but we are not sure it … Read More

Wirehouse Recruiting Continues, No Matter The Status Of The Broker Protocol

Firms continue to dangle multi-million dollar bonuses in front of rival wirehouse teams no matter what it may do to ones balance sheet. As predicted, no matter the legal bluster, wirehouse (and even regional) recruiting continues unabated. Deals for million … Read More

Protocol Whispers: Could A New Protocol Deal Be In The Works? (because those that exited are getting hammered)

Whispers are beginning to make their way to our big ears. The exit out of the broker protocol by the likes of UBS, Morgan Stanley and other large firms has been a disaster on several fronts.  Legal fees have skyrocketed, … Read More

DYNASTY DOUBLES DOWN: Dynasty Announces 100% Forgivable Loan Program; Biggest Independent ‘Up-Front’ Payment In The Industry

 In a nod to the pure heat being generated in the RIA and Independent wealth management channels, Dynasty has chosen to offer a 100% of trailing 12 revenue to advisors joining its platform. This moves is another flagpole symbolizing the … Read More

RECRUITING: Regionals Continue To Embrace Epic Opportunity

Much has been written regarding the draw down of recruiting deals in the wirehouse space; connected to the protocol exit and its implementation across the wirehouse world. Beginning with UBS, both Merrill and Morgan Stanley have either completely stood down … Read More

GIRD YOUR LOINS: State And Federal Agencies Are Looking For The Next ‘Tom Buck’ Scalp

The Tom Buck saga has been an epic meltdown worth paying attention to for a little more than three years. Eventually culminating in a 40-month federal prison sentence for the once revered and Barron’s Top 100 ‘certified’ financial advisor. A … Read More

RECRUITING: When the Compliance Door Slams Shut

There is a segment of the advisor ranks out there that can be considered ‘special circumstances’. These advisors have taken hits to their compliance records, either through actions that they regret and would like to take back, or from circumstances … Read More

MORGAN STANLEY MEGA TEAMS: Leadership At Morgan Stanley Espouses Even Larger Team Structures (**buyer beware)

Morgan Stanley’s Andy Saperstein made a bold prediction earlier in the month. A prediction that should cause the hair on the back of your neck to stand up. Saperstein believes that the firm will create larger and larger teams to … Read More

UBS TAX MESS: Executive Management Claims ‘Our Bad’, Claws Back Mishandled Tax Payments

As if wirehouse advisors needed another reason to consider taking their books elsewhere, UBS announced they had messed up tax payments connected to recruiting bonuses for several years. Ouch. And guess who’s left holding the bag? Yes, advisors. Talking to … Read More