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.
RIA M&A Grew 30% in 2012, With Most Deals Done by Big Firms: Schwab
By Joyce HansonNational acquiring firms, like HighTower, Focus Financial and United Capital, remained the dominant buyers, with 25 of the 45 total M&A deals, Schwab reports.
January 23, 2013
How LIBOR Settlement Could Hurt UBSUBS, which has more than 7,000 advisors in the Americas, recently agreed to pay more than $1.5 billion over LIBOR manipulation and related charges. Will its troubles drive away clients and recruits?
January 23, 2013
Wirehouses Roll Out ’13 Comp PlansAfter getting feedback from top advisors, Morgan Stanley said in December that it will share a new stock-ownership plan with reps in 2013.
January 23, 2013
IMCA NYC to Feature Ian Bremmer, Bob Pozen, Andrew LoPlanting the flag in private wealth advice is going to shape a lot of what IMCA focuses on over the next few years, says IMCA Executive Director Sean Walters.
January 18, 2013
Morgan Stanley at ‘Pivot Point,’ Says CEO, as Firm Tops Earnings EstimatesGorman adds that hes comfortable with the current headcount and that the wealth management unit has a pretax profit of 17%.
January 16, 2013
BNY Mellon Boosts Profits 23%: Q4 EarningsClearing fees at Pershing unit rise to $294 million in the period and nearly $1.2 billion for 2012
January 16, 2013
Schwab Meets Expectations: Q4 Earnings 2012Its Advisor Services unit now has close to $790 billion in client assets as of December 2012.
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.