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 Earnings Beats Estimates, but Advisors’ Sales Slow
By Janet LevauxAs bank sees plunge in profits from last year's Q3, the number of Merrill Lynch advisors drops by one from the previous quarter to 17,533.
October 15, 2012
Finance Sector’s Q3 Growth Seen Leaving Others in DustEarly reports for the finance sectors third-quarter 2012 performance indicate that it is on track to best all other sectors, at overall profits of 11.8%, in what looks to be an otherwise lackluster earnings season.
October 15, 2012
Morgan Stanley Sued for Targeting Black HomeownersAccording to the ACLU, who filed the lawsuit, the case is the first to link racial discrimination to mortgage-backed securities.
October 12, 2012
Goldman President Cohn Will ‘Probably Read’ Op-Ed Writer’s Tell-All BookIs all forgiven? Probably not.
October 12, 2012
JPMorgan, Wells See Big Q3 Profits as Bank Lending ReturnsInvestors looking for good news found it Friday as JPMorgan and Wells Fargo both reported double-digit profits for the third quarter.
October 11, 2012
HighTower’s Pagnato-Karp Group Lands Former Merrill Lynch AdvisorThe advisor-owned financial services firm announced on Thursday that David Nelson has joined its Pagnato-Karp Group.
October 09, 2012
Julius Baer May Cut 1,000 Jobs After Merrill AcquisitionThe bank seeks to reduce its workforce by 15%18%, now that it has a combined staff of some 5,700 in the wake of its acquisition of Bank of America-Merrill Lynchs former U.S. wealth management units.
October 08, 2012
Top 10 BDs Breakaway Advisors Want to JoinThe leading firms have one characteristic that makes them similar, according to the recruiter Chip Roame, and that might explain their appeal.