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.
Baird Grabs 12 From Morgan, Wells Fargo, Schwab
By Janet LevauxBaird on Tuesday announced the hiring of 12 advisors from Morgan Stanley, Wells Fargo and Schwab with about $1.8 billion in combined AUM and about $10.4 million in yearly fees and commissions.
March 13, 2012
‘Reformed Broker’ Gadfly Joins BrightScope as Social Media AdvisorJoshua Brown, the angry former broker who made a name for himself by saying out loud what others in the finance industry just think, has joined the advisory board of 401(k) analytics firm BrightScope.
March 12, 2012
Morgan Stanley Team Goes Hybrid via LPLThe group, one of the largest teams in San Diego, left Morgan Stanley Smith Barney recently to set up an independent wealth-management firm, Ibis Capital. The firm plans to retain about 80 client relationships.
March 12, 2012
FINRA’s Top 5 Enforcement Issues of 2011A survey of FINRA sanctions by Sutherland Asbill focuses on the top enforcement issues in 2011, showing that fines jumped 51% over 2010, with more reps barred.
March 09, 2012
Where Are the New Advisors? (AdvisorOne)Financial advisors are leaving the industry faster than they can be replaced, which has forced firms to get a little creative in how they go about replenishing the stock.
March 08, 2012
Direct Firms Can Grow Through Managed Accounts: CerulliIn its managed accounts edition of The Cerulli Edge, the company finds that even as wirehouse market share declines, that of the direct channel is growing steadily, if not at a breakneck pace. The reason? Direct providers are able to keep their existing self-directed clients interested by providing managed accounts...
March 05, 2012
Billion-Dollar Merrill Private Banking Team Joins HighTowerThe $1 billion Merrill Lynch private banking team joined Chicago-based RIA HighTowers New York office on Friday.
March 02, 2012
Baird Boosts Recruiting as Reps Boost Sales 12.5%Milwaukee-based Baird now includes about 700 financial advisors, says Matthew Curley, national sales director and COO of Bairds private-wealth management operations.