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.
Morgan Stanley at ‘Pivot Point,’ Says CEO, as Firm Tops Earnings Estimates
By Janet LevauxGorman adds that hes comfortable with the current headcount and that the wealth management unit has a pretax profit of 17%.
January 16, 2013
Wall Street Sees Soaring Start to Q4 Earnings SeasonBoth banks beat analysts expectations by a mile, with GS reporting quarterly EPS of $5.60 versus EPS estimates of $3.78 and JPM reporting EPS of $1.39 versus estimates of $1.22.
January 16, 2013
Morgan Stanley Bonus Deferment Seen as Warning ShotThe plan does not affect financial advisors this year, but could be a sign of things to come industrywide, experts say.
January 11, 2013
What’s Behind FINRA’s Newfound Move on Disclosing Broker Bonuses?A cynical observer might think the impetus for the newly "fiduciary conscious" FINRA's proposed rulemaking was to discourage brokers from demanding bonuses when they switch broker-dealers.
January 11, 2013
Wells Fargo Tops Q4 Estimates, Boosts Advisor HeadcountNet income in the fourth quarter rose to $0.91 a share, as sales hit nearly $22 billion at the wirehouse and the number of advisors rose.
January 11, 2013
BofA’s Giving Record ‘Mediocre,’ Goldman’s Is ‘Miserly’: Charity WatchdogThe National Committee for Responsive Philanthropy has issued a highly critical report on the performance of the corporate foundations of Bank of America, Goldman Sachs, Wells Fargo and JPMorgan Chase.
January 11, 2013
Top 7 Biggest Bank FinesAdvisorOne finds that all of the biggest bank penalties have been levied in the last 10 years, with most of them since the financial crisis started in 2008.
January 10, 2013
Morgan Stanley to Slash 1,600 JobsThe cuts focus on institutional operations, such as investment banking and trading activities at the wirehouse.