Wealth management firms should define success by how well their operations perform under pressure, Kestra Financial COO Kris Chester says in an episode of Financial Planning’s podcast.
The privately held firm recruited more than 160 reps in the first quarter on the strength of its balance sheet, CEO Amy Webber says.
Financial advisors, broker-dealers, custodians and other firms are trying to do their part amid a public health and economic crisis.
CEO Dan Arnold says the pandemic “will create some structural change across the market and the industry.”
Waddell & Reed rep Zachary Edwards is feeling much better and relieved that his friends, colleagues and loved ones appear to have avoided COVID-19.
Organizations and firms are donating N95 masks, providing resources at no cost and taking steps to protect employees and practices nationwide from the spreading pandemic.
Ratings agencies predict major losses for all of the largest BDs, prompting firms to reassess strategies in uncertain times.
Senior leaders at the No. 1 IBD meet daily about the pandemic as large enterprises set their own continuity plans into motion with an eye toward ensuring operations.
Moody’s lowered the giant IBD network’s credit rating with sobering words that could resonate across wealth management.
Moody’s affirmed the company’s “B3” rating but signalled the potential wide-reaching impact of the pandemic across wealth management.