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.
Merrill to Pay FINRA $6 Million Over Reg SHO Violations
By Melanie WaddellFINRA said Monday that it had fined Merrill's clearing and BD arms for not ensuring that fail-to-deliver positions in short sales were properly closed out.
October 22, 2014
Wells Fargo Adds 2 Reps, Boosts Overall Headcount in Q3The third-biggest wirehouse says its client assets total $1.4 trillion.
October 20, 2014
Morgan Stanley Recruits 5 Advisors; Merrill Adds TeamThe wirehouses each add registered reps from rival firms with more than $500 million in client assets.
October 16, 2014
DOL Advisor Crackdown Is ‘Out of Control’: Benefits LawyerThe DOL conducted more than 3,600 audits of qualified retirement plans last year. Settlements related to violations totaled $1.7 billion in plan reimbursements and fines.
October 14, 2014
The Bizarre Recruiting Case of Alfonso MontoyaA $150 million book of business Wells Fargo promised him never materialized and then the wirehouse took him to arbitration.
October 10, 2014
Hacked: What to Do When Cybercriminals Hit Your FirmCybersecurity is a constant threat, and considering how attractive a target a financial firm is, especially if it serves high-net-worth clients, advisors should be prepared for the worst.
October 10, 2014
Enforcement Roundup: FINRA Fines Morgan Stanley for Failures to Supervise Advisor ProgramIn other action, Massachusetts charges couple with fraud in real estate ventures.
October 09, 2014
ThinkAdvisor’s 2014 Q3 Earnings Calendar for the Finance SectorA list of Q3 earnings release dates for companies of interest to financial advisors and investors.