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.
BofA-Merrill Settles Gender Discrimination Suit for $39M
By Janet LevauxThe lawsuit was filed in 2007 and involved about 4,800 current and former financial advisors.
August 28, 2013
Top Advisor Blasts RIAs, Brokers in New BookIf youre reading this and you get pissed, youre probably guilty of being a bad advisor, Steve Lockshin says.
August 28, 2013
BofA-Merrill Moves to Settle Lawsuit With Black BrokersThe lawsuit, which alleges discrimination and was initiated in 2005, could be resolved for a reported $160 million as early as Tuesday.
August 27, 2013
Morgan Stanley Adds 9 Reps From RivalsThe new advisors bring about $10 million in yearly fees and commission, as well as more than $1.8 billion in total client assets.
August 27, 2013
13 Best & Worst Broker-Dealers: Q2 Earnings, 2013Some large organizations kept up their momentum, while smaller BDs showed both weaker than expected and surprisingly strong results.
August 26, 2013
Wirehouse Wealth Results Strong in Q2Bank of America said its second-quarter net income rose 63% to $4.0 billion, or $0.32 per share, from $2.5 billion, or $0.19 per share, a year ago, while…
August 22, 2013
Raymond James Sees 34% Jump in July AUMMeanwhile, Charles Schwab reports $8.8 billion in net new assets for the month.
August 22, 2013
FINRA Fines Morgan Stanley Over Bond InfractionsFirms must ensure that customers who buy and sell securities ... receive execution prices that are consistent with prices available in the marketplace," FINRA says.