Wirehouse Firms
Learn the ins and outs of the wirehouse channel, including news, analysis and more on Bank of America-Merrill, Morgan Stanley, Wells Fargo and UBS.
Schwab, TD Ameritrade Put Brakes on Some GameStop Trading
By Janet LevauxMeanwhile, Wells Fargo has stopped its advisors from making recommendations to clients to buy GameStop or AMC.
January 26, 2021
UBS Wealth Americas Posts 54% Jump in Pretax ProfitsInvested assets hit $1.6 trillion, as the advisor headcount dropped by 244 from last year to 6,305.
January 26, 2021
Recruiter Diamond Consultants Names New PresidentThe news comes as the firm surpasses $200 billion mark for assets moved as part of advisor transitions it's facilitated.
January 22, 2021
Ex-Wells Fargo Exec to Pay $3.5M for Role in Fake Accounts ScandalFormer General Counsel James Strother once vowed to fight charges alleging he turned a blind eye to "rampant criminal and legal violations."
January 22, 2021
SEC Charges Father-Son Team With Defrauding ClientsAdvisors allegedly concealed from clients that the father wasn't associated with an RIA and used clearing services without authorization.
January 21, 2021
Commonwealth Targets Breakaways With 'Soft Landing' ProgramServices suite includes human resources, marketing and other support to "ease the transition" for wirehouse advisors going independent.
January 20, 2021
Morgan Stanley Posts Growth in Advisors, New AssetsIts financial advisor headcount grew by 482 from a year ago and from 481 in the prior quarter to 15,950.
January 20, 2021
SEC Expected to Shift Focus to Advisors, BDs Under BidenThe SEC under Gensler will shift priorities away from retail investor fraud toward the conduct of institutions, securities lawyers predict.