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.
Morgan Stanley Profit Falls 30% on COVID-19 Impact
By Janet LevauxThe firm has 15,432 advisors, down 36 from Q4'19 and 276 from Q1'19; average yearly fees and commissions are $1.05 million
April 15, 2020
Morgan Stanley Wins Nearly $2M in FINRA Arb DisputeThe firm had sought $1.5 million it said an ex-advisor owed from promissory notes, plus fees.
April 14, 2020
SEC Reg BI Seeks to 'Carve Up' Market for Investment Advice, XYPN SaysIt's "just the latest in a series of attempts by the SEC to exceed or misapply its regulatory authority," XYPN said.
April 14, 2020
How Advisors are Handling the Challenge of COVID-19A study from Practical Perspectives describes a deliberate calm among advisors despite some clients' worries.
April 14, 2020
RIA Channel Growth Soaring as More Advisors Break AwayMost employee advisors who want to switch firms say they would prefer to go indie, Cerulli reports.
April 14, 2020
FINRA Bars Ex-Morgan Stanley Rep for Not Cooperating With InquiryThe broker was fired by the wirehouse as it reviewed a mortgage deed execution she was involved in.
April 14, 2020
Wells Fargo Q1 Profits Drop 90%The number of advisors fell by 378 from last year; meanwhile, JPMorgan's net income declined nearly 70%.
April 14, 2020
UBS Is Helping Small-Business Wealth Clients Get PPP LoansThe PPP loans will be made though the Newtek Business Services Corp. and UBS Bank.