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.
Wells Fargo Reports Loss, Vows to Cut $10B
By Janet Levaux"This cannot continue," CEO Charlie Scharf said.
July 10, 2020
Wells Fargo to Donate $400M in PPP Loan FeesThe funds will target minority-owned businesses; through June 30, the bank has processed close to 180,000 loans.
July 09, 2020
Wells Fargo Readying Thousands of Job Cuts to Start in 2020Tens of thousands of positions could ultimately be eliminated; the move may test vows by other banks to keep staff amid the pandemic.
July 09, 2020
Morgan Stanley to Pay $875K Fine for Bad Trade DataThe firm submitted "at least 869 inaccurate blue sheets," according to FINRA.
July 07, 2020
Best & Worst BDs for Advisors: J.D. Power — 2020The latest satisfaction survey of more than 3,200 advisors is based on a new set of factors, including professional development and technology.
July 02, 2020
$1.6B UBS Advisors Move to Wells Fargo FiNet: Recruiting RoundupMeanwhile, Stifel adds Wells Fargo reps with $540 million and a $935 million Merrill Lynch team.
July 01, 2020
Model Portfolios Lost $500 Billion in Q1: BroadridgeBut their total assets were $3 trillion.
July 01, 2020
We Asked, Advisors Answered: How Can the Industry Increase Diversity?Ex-FPA President Frank Paré, Lazetta Rainey Braxton and others gave ThinkAdvisor their recommendations.