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.
A Timeline of Wells Fargo's Scandals
By Janet LevauxStarting in 2016, regulators called out Wells Fargo, stating employees created several million unauthorized bank and credit card accounts without client knowledge. Since then, there's been a steady stream of newsworthy developments.
July 25, 2018
RBC Nabs $190M Merrill Team in New Jersey: Recruiting RoundupMeanwhile, Wealth Enhancement Group says it is buying Retirement Strategies, an independent practice with about $350 million in assets based in Florida.
July 24, 2018
UBS Wealth Merger Hits Goals as Investors Press for ReturnsThe bank had net outflows for the first time in about 18 months; the investment bank beat analyst expectations for the second quarter.
July 19, 2018
Wells Fargo Issuing Refunds for Pet Insurance, Legal Services: ReportThe news comes about a week after the bank explained that it would spend $114 million on refunds to wealth-unit clients.
July 18, 2018
Morgan Stanley's Almost-Flawless Quarter Gets Wall Street KudosShares up as much as 4.7%, most intraday since February 2017; other big bank shares rise, but not as much as Morgan Stanley.
July 16, 2018
BofA Tops Estimates for Q2 Earnings; Wealth Profits Up 20%The bank says the number of Merrill Lynch financial advisors rose by 70 from last year to 14,820.
July 16, 2018
Ami Forte, Ex-Morgan Stanley Star, Portrayed Falsely by Former Boss, Lawyer SaysForte's former branch manager was "bought off" by Morgan, her lawyer tells ThinkAdvisor.
July 13, 2018
The Wealth Management Arms Race Is Heating UpBig banks are bolstering their private-banking efforts amid growing competition from boutiques.