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Wells Fargo Advisors has appointed Farhad Firoozi, previously a senior recruiter at LPL Financial, to lead its hiring efforts in San Diego. Firoozi fills the role left by Brendan Krebs and will focus on attracting financial advisors as the firm enhances its independent offerings. Wells Fargo has around 12,000 brokers, while LPL boasts approximately 29,000.
Morgan Stanley has successfully recruited a $1 billion team from UBS, continuing a trend of significant talent acquisition from the wirehouse. This year, UBS has been a prime target for firms like Morgan Stanley, LPL, and RBC. Additionally, Ameriprise and LPL Financial have announced substantial pay increases for their top executives.
BNP Paribas Financial Markets, Aristeia Capital, and Ameriprise Financial are among several institutional investors that acquired new positions in Getty Images during the fourth quarter, with investments ranging from $27,000 to $33,000. Currently, 45.75% of Getty Images' stock is owned by institutional investors and hedge funds. The company, which offers a variety of visual content solutions, has received mixed ratings from analysts, with a consensus "Hold" rating and an average target price of $4.60.
A former Wells Fargo Advisors broker, Marc W. Torres, has been ordered to pay $2.2 million for failing to repay upfront loans after leaving for J.P. Morgan in 2022. The arbitration panel ruled against his claims of breach of contract and awarded Wells Fargo the full amount sought, including attorneys' fees and costs. This case follows a trend where brokers rarely succeed in contesting promissory note claims, as seen in similar clawbacks by other firms.
Citigroup upgraded Coty's outlook from Neutral to Buy on March 20, 2025, with an average one-year price target of €8.13/share, indicating a potential upside of 57.89% from its closing price of €5.15/share. Institutional ownership has increased, with 665 funds reporting positions, and total shares owned rising by 4.28% to 428,627K shares. Notable shareholders include Bnp Paribas Arbitrage, Banco Santander, and Ameriprise Financial, each adjusting their portfolio allocations in recent months.
UBS aims to increase its Americas wealth unit's pre-tax profit margin from 9% in 2024 to 15% by 2027, despite challenges from rising interest rates that have shifted client investments. The bank's $2.1 trillion asset management unit lags behind competitors, prompting speculation about potential mergers and acquisitions to enhance profitability and scale. Options include acquiring independent boutiques or larger firms like Ameriprise Financial or Raymond James Financial to bolster its wealth management capabilities.
The U.S. stock market faces a critical test with the upcoming jobs report, expected to show a growth of 150,000 jobs and an unemployment rate of 4.2%. Investors are looking for a balanced economic outlook to support equity gains in 2025, amid concerns over inflation and interest rates. A solid report could help stabilize a market that has shown weakness at the start of the year following a strong 2024.
The U.S. jobs report, set for release on January 10, is poised to be a critical indicator for the stock market in 2025, with expectations of 150,000 new jobs and an unemployment rate of 4.2%. Investors are looking for signs of a stable economy to support equity gains, while concerns about inflation and interest rates loom. Recent labor data has shown volatility, and any unexpected weakness could lead to market fluctuations.
Ameriprise Financial, Inc. (NYSE: AMP) recently reported insider sales totaling 21,715 shares valued at nearly $12 million, with corporate insiders holding 0.73% of the stock. The company’s stock opened at $573.97, with a 12-month range of $347.74 to $577.00, and a market cap of $55.68 billion. Analysts maintain a "Hold" rating, with a consensus price target of $487.67, while the firm announced a quarterly dividend of $1.48, yielding 1.03%.
UBS Wealth Management has appointed Ryan Lurie as the new head of its Scottsdale and Phoenix offices. Lurie, an Accredited Portfolio Management Advisor, will oversee financial advisors and support staff, focusing on expanding the firm's wealth management business in Arizona. He previously served as a Managing Director at Ameriprise in Phoenix and holds a Bachelor of Science in Business Administration from the University of Florida.
Ameriprise Financial, Inc.
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