Jamie Dimon declares war on fintechs - New state of alt data - The untouchable client
Dan DeFrancescoJan 19, 2021, 16:47 IST
NEW YORK, NY - SEPTEMBER 8: An aerial view One World Trade Center in Lower Manhattan, September 8, 2016 in New York City. New York City is preparing to mark the 15th anniversary of the September 11 terrorist attacks. (Photo by Drew Angerer/Getty Images)Drew Angerer/Getty Images
Good morning and welcome to Insider
Finance. I m Dan DeFrancesco, and here s what s on the agenda today:
JPMorgan s Jamie Dimon just declared war on fintechs
Big players like Bloomberg LP are starting to upend the alt-data landscape
The hold in trainees client prospecting activity can have a meaningful impact on trainees morale. If advisors-in-training are not able to build their networks and books of business, their progress can be stunted.
The person familiar with the matter, who requested anonymity to speak freely, said some trainees are frustrated and in limbo. The program trains some 3,000 to 3,500 at any one time.
The Financial Advisor Development Program (FADP) and ones like it across Wall Street generally have low graduation rates, as many drop out of the intensive, multi-year program or shift to other areas of the bank. We announced in October a new Advisory division within Merrill, now responsible for advisor training and development. Our prospecting pause remains in place while the leadership of this new division refines our strategy and approach to improving the early and long-term success of our advisors, a Merrill spokesperson said.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Rockefeller Capital Management Continues Robust Advisory Growth, Announces Three Wealth Teams Across Florida, Illinois
January 15, 2021 GMT
NEW YORK (BUSINESS WIRE) Jan 15, 2021
Rockefeller Capital Management (“Rockefeller” or the “Firm”) today announced expansions to its Private Wealth Management business with additions of three wealth teams: The Faro and DBT Groups based in Boca Raton, Florida, and The Bergman Wealth Management Group, based in Chicago.
“ We’re excited to welcome our new teams aboard and to continue building off the robust pace of business growth set in 2020,” said Chris Randazzo, President of Private Wealth Management for Rockefeller Capital Management. “Our approach remains thoughtful, selective, and unchanged: we are bringing to our company the industry’s most accomplished professionals in supporting the complex needs and goals of wealthy individu
Samantha Lee/Business Insider This story is available exclusively to Insider subscribers. Become an Insider and start reading now.
The recruitment process for financial advisors leaving one firm to join another went fully digital this year, but there were still lots of big-ticket moves across the industry.
UBS hired a team overseeing $9 billion from JPMorgan s private bank, JPMorgan poached teams for its reorganized wealth business, and Wells Fargo in June had its best recruiting month in a decade, by revenue.
Technology introduced snappier recruitment processes for some firms at a moment when many are doubling down on their wealth management segments and the space is rife with consolidation.