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 Outlines DOL, Tech Plans; Departures Continue
By Janet LevauxThe wirehouse urged its FAs to "have conversations with clients and document" that discussion.
December 21, 2016
FINRA’s 12 Fines of Christmas: Wells Fargo, LPL Flub Security of RecordsThe companies were fined a total of $14.4 million, as some firms failed to keep millions of records in the proper electronic format.
December 20, 2016
Morgan Stanley to Pay SEC $7.5M Over Trading SchemeMorgan Stanley used trades involving institutional clients cash to lower its borrowing costs, the SEC said.
December 20, 2016
Wells Fargo to Stop Paying Brokers Bonuses for Selling LoansBrokerage unit is said to be keeping its basic pay grid but doing away with bonuses for selling products like mortgages or credit lines.
December 19, 2016
Wells Fargo Lining Up Robot Stock Pickers for Its First Ever ETFThe banks fund unit is considering launching its first ETF within three to six months, company executives said.
December 15, 2016
Wells Fargo Tie-Up That Scarred Prudential Generated $4MWe dont gauge the importance in financial terms, insurer says; Prudential stands by MyTerm product for providing value.
December 15, 2016
Raymond James Adds 2 Teams; Wells Fargo Nabs Breakaways: Recruiting RoundupMeanwhile, LPL Financial attracts affiliated advisors from rival IBDs, as RBC hires a longtime Merrill advisor with long career at Merrill Lynch.
December 13, 2016
Schwab to Launch Hybrid Robo-Advisor ServiceSchwab Intelligent Advisory combines the service of a live credentialed professional and logarithm-driven technology.