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.
The Biggest News of 2020, and How It Changed Everything
By Janet Levaux | Chris NichollsA look at COVID-19, responses to it and how these developments rippled across the financial markets, government and other sectors.
December 16, 2020
Morgan Stanley to Roll Out 'Minor' Comp Changes for 2021Given its earlier "draconian cuts," the wirehouse doesn't "have much room to maneuver" next year, says recruiter Mark Elzweig.
December 15, 2020
Humbug! E-Trade and Schwab Platforms Hit With Technical ProblemsSchwab chalks up its latest issue to a "faulty mainframe connection" that was resolved Monday.
December 14, 2020
UBS Leaves Comp Plan Unchanged for 2021Wirehouse likely wants to avoid defections, as its Americas advisor headcount was 6,353 as of Sept. 30, down 274 from a year ago.
December 14, 2020
Cetera Adds $122M PracticePierson Wealth Management, led by Ivy Pierson, specializes in developing and implementing retirement and estate plans for private clients.
December 13, 2020
State Street, UBS in Discussions About Merging Asset Management Units: ReportThe talks started this year, and the two parties were near an agreement this summer, sources told The Wall Street Journal.
December 11, 2020
How Did Advisor Portfolios Perform After COVID-19 Hit? Very Well, Says InvescoThe firm's study of several hundred portfolios found that many advisors shifted allocations to investments that outperformed.
December 11, 2020
Wells Fargo Raises Monthly Comp Hurdle for 2021It's the first time since 2014 that the firm has boosted the revenue its brokers must take in before earning a higher payout rate.