Excluding the players in the World Series, there are many contenders for a baseball list that no one wants to be a part of…..

The toughest question for the general manager of any baseball team is whether to pull the trigger and offer a player coming off a big year a huge contract. No matter what fans think there’s no way to tell for sure if a player will continue at the top of his game after re-signing. The World Series features two teams, the Kansas City Royals and the San Francisco Giants, who eschewed off-season splurges and relied on smaller contracts and young, untested, players — particularly the Royals.

Read full article here.

Share

A $150 million book of business Wells Fargo promised him never materialized — and then the wirehouse took him to arbitration…..

A wirehouse promises a veteran advisor a $150 million book of business and a $450,000-plus upfront bonus to come on over. The wirehouse resigns the FA’s job for him at his current firm, then e-mails his clients to tell them he’s leaving.

This strange and unusual real-life scenario begins to boarder on the bizarre when the book of business turns out to be only $10 million and five months after the advisor joins the firm, the wirehouse takes the vexed FA to arbitration by the Financial Industry Regulatory Authority (FINRA).

Read full article here.

Share

Advisory firms and recruiters weigh in on their 10 best interview questions and answers when hiring advisors.

What can you tell me about yourself?

Mickey Wasserman, founder and president of Michael Wasserman & Associates, Agoura Hills, Calif.

“Perhaps the oldest job interview question, but it’s still the most powerful. While prior measured accomplishments are the best predictor for future success, this open-ended question separates the great FA from the merely good FA. A good response gives me a glimpse of the candidate’s poise and communication skills. I want to learn about their work ethic, vision, passion, family, humility, community involvement, goals, stability, etc. The best response includes language about serving clients. The worst response is non-communication, uncomfortable silence, folded-arms, and defensiveness.”

 

See full slide show here.

Share

UBS Wealth adds 24 advisers, 10 from Morgan Stanley, 4 advisers from Merrill Lynch, 4 from Wells Fargo

Read full article here

Share

Barclays Wealth has hired Richard Comeau to join its New York office. Comeau, who has 20 years of industry experience, was most recently at Goldman Sachs.

Read full artilce here

Share
If you could talk to a room full of headhunters, what would you ask them? Will deals ever get any bigger than they are now? Do I have to have an entrepreneurial mindset to succeed in this business? Is the wirehouse business model still a good idea?
Share

Training programs for brokers are falling victim to the corporate budget ax, cutting off a source of new talent for financial firms.

Read full article

Share

This year, most of them call Morgan Stanley the darling of the Street. They predict that brokers will rebel against mergers. They wonder when management will wake up to the potential of female brokers. And they say the money for advisors to jump has never been greater. These are just some opinions from the industry’s top external recruiters that were voiced at On Wall Street’s eighth annual forum in New York. These 12 panelists, who came from as far away as California and Florida, all have ears inside the major firms. Here’s what they are saying–both good and bad–about the business.

Read full article here

Share