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.
Unlike Rivals, Wells Fargo Is Starting Job Cuts: Report
By Janet LevauxThe bank plans to shrink its headcount via "attrition, the elimination of open roles and job displacements," a spokesperson told Bloomberg.
August 20, 2020
First Republic Nabs $2.5B Merrill GroupMeanwhile, the Thundering Herd also loses advisors to UBS and Wells Fargo FiNet.
August 20, 2020
LPL Pledges $1B to Put Advisors on Growth 'Superhighway'The broker-dealer wants its advice business to work more like Amazon, Netflix and eBay to outperform "institutional" rivals like Schwab, says CEO Dan Arnold.
August 18, 2020
UBS Reps Suspended for Unauthorized TradingFINRA also suspends ex-Edward Jones rep, claiming he settled a client complaint without the knowledge or approval of the firm.
August 17, 2020
Biden's VP Pick Harris Opposes DOL Fiduciary RuleKamala Harris joined other lawmakers in telling Labor Secretary Eugene Scalia to rework the fiduciary rule.
August 17, 2020
Steward Partners Grabs 5 Advisors With $491MEast Coast advisors from Morgan Stanley, Wells Fargo and other firms are joining the Raymond James affiliate.
August 13, 2020
Morgan Stanley to Pay Over $950K in Restitution, FinesA now ex-advisor "on hundreds of occasions" recommended clients buy and then quickly sell corporate bonds or preferred securities, says FINRA.
August 13, 2020
LPL Grabs $800M Securities America Team: Recruiting RoundupMeanwhile, RBC picks up a $675 million Morgan Stanley group, and Dynasty helps lead a $360 million Merrill duo to independence.