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.
What to Make of Wirehouse Comp Plans for 2020
By Janet LevauxConsultant Andy Tasnady talks to ThinkAdvisor about recent changes at Wells Fargo, Morgan Stanley and UBS, as well as earlier shifts at Merrill.
December 13, 2019
Ex-UBS Supervisor Wins $11.3M Defamation AwardThe case concerns Mark Munizzi and his role overseeing a broker's uncovered-options strategy and related issues.
December 12, 2019
Wells Fargo Leaves Comp Grid Alone for 2020, Tweaks Payouts on Small AccountsIt's "notable" that Wells Fargo has left its grid intact as other wirehouses have made changes, recruiter Mark Elzweig says.
December 12, 2019
JPMorgan Forms New Wealth BusinessThe unit starts with an asset base of about $400 billion, far smaller than its wirehouse rivals.
December 12, 2019
Stifel Financial Picks Up 5 Wirehouse RepsIts latest recruits include a Merrill trio in Kentucky with nearly $100 million in client assets.
December 12, 2019
Securities America Nabs $565M Ameriprise Team: Recruiting RoundupMeanwhile, LPL Financial, Cetera and Raymond James bring on advisors from rivals.
December 10, 2019
Wells Fargo Kills Commissions for DIY InvestorsThe move to zero follows the industry trend started by Charles Schwab in early October.
December 09, 2019
Morgan Stanley to Cut 1,500 Jobs: ReportThe news comes about two weeks after issues surfaced about problems with FX option valuations and the hiding of $140 million in losses.