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.
FINRA Files to Boost Arbitrators' Pay
By Melanie WaddellLawyers for investors support the pay hike but "we do not want arbitrators to be doing this as their living," says PIABA's Sam Edwards.
October 16, 2020
Buffett Inches Toward Wells Fargo Exit as Scharf Sets CourseWarren Buffett urged Wells Fargo's board not to hire a leader from Wall Street. But it did.
October 15, 2020
CFP Board Offers Remote Testing for Next ExamOf the 2,154 candidates who took the most recent CFP test, just 6% did so remotely.
October 15, 2020
Wells Fargo Fires More Than 100 Workers for Abusing U.S. AidThe staffers made "false representations in applying for coronavirus relief funds for themselves," according to a memo.
October 14, 2020
FINRA Fines Ex-Merrill Rep Who Hid Apartment Rental BusinessThe former broker voluntarily resigned from Merrill while under internal review, FINRA says.
October 14, 2020
Wells Fargo Makes 'Sizable' Cuts to Advisor ForceThe firm's advisor headcount is down 14% from fall 2016, when the fake-accounts scandal broke.
October 12, 2020
LPL Hires BofA Exec as Chief Risk OfficerThomas Cappello, a former UBS advisor, is hired two months after LPL rolled out its employee advisor channel.
October 12, 2020
SEC Clarifies Form CRS Rules on Reporting Disciplinary HistoryThe clarification follows a report that at least 1,300 firms failed to report disciplinary or legal events on the form.