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.
Much of 2013’s Important News Arose From What Didn’t Happen
By Bob ClarkOne of the big things that failed to happen this year was a fiduciary standard imposed on brokers by either the SEC or the DOL.
December 12, 2013
Pre-Crisis CDOs Haunt Merrill With $131.8M SEC FineMerrill Lynch failed to inform investors that a hedge fund firm shorting the CDOs had significant influence over the selection of their collateral.
December 12, 2013
Wells Adds 3 Teams with $4.5M as Rivals Nab RepsWirehouses are grabbing groups of advisors nationwide, and independent firms are acquiring new assets in Illinois.
December 11, 2013
Are Brokers Greedy Scumbags?Despite bad press and widespread bias, FINRA statistics tell a much different story about the behavior of most financial advisors, recruiter Jon Henschen says.
December 10, 2013
Bank Customer Satisfaction Returns to Prerecession LevelsCustomers are happier with their banks despite higher fees, the American Customer Satisfaction Index says. Satisfaction with health insurers rose, too.
December 10, 2013
LPL Welcomes Back $200M Team; Raymond James Adds $220M Wells GroupThe advisor group returns to LPL from Ameriprise, while Raymond James welcomes three reps to its Advisor Select channel.
December 09, 2013
Morgan, Merrill, UBS Tweak Pay Packages for 2014There are new awards and enhancements, but some payout thresholds have been raised at the wirehouses.
December 05, 2013
Wirehouses Held Prisoner in Broker Bonus WarsDeals can reach as high as the 300% range, veteran recruiter Mark Elzweig says, and rumors of a truce are premature.