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.
Advisors Beware: Subscription-Based Financial Advice Gearing Up
By Bernice NapachA study by EY recommends that financial firms adopt a subscription model or risk being outrun by tech firms entering the market.
April 18, 2019
Democrats Said to Subpoena Nine Banks in Probe of Trump FinancesHouse Financial Services Committee reportedly is seeking information from JPMorgan, Morgan Stanley, Bank of America, Wells Fargo and Capital One.
April 18, 2019
LPL, Advisor Group and Merrill Tap New ExecsMeanwhile, Dynasty names a new tech chief, and two firms announce big marketing developments.
April 18, 2019
LPL, Raymond James Nab Wirehouse Reps: Recruiting RoundupPlus, Steward Partners secures a $50 million investment; RIA Integrated Financial Partners adds a team.
April 17, 2019
Morgan Stanley Tops Estimates; Wealth Profits Rise 1%The bank has 15,708 registered reps -- up 26 from a year ago and 14 from the prior quarter -- with an average of $158 million in client assets. Rival Merrill Lynch's advisor headcount is 14,761 — down eight from the
April 16, 2019
BofA Wealth Unit Boosts Profits 14%; No Plans to Sell Retirement-Plan OpsSome 11% of new client relationships for Merrill advisors came from referrals in other parts of the bank in 2018, and that level could rise this year.
April 16, 2019
Will Trump Memo Slow Down SEC's Reg BI?A memo from the OMB states that major rules, like the SEC's best-interest rules, must be reviewed by Congress.
April 15, 2019
New Jersey Unveils Proposed Fiduciary RuleThe proposal covers BDs, agents and advisors but excludes some advisors already acting as fiduciaries.