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.
Raymond James Grabs Two Merrill Teams in Southeast
By Janet LevauxA team joins the employee channel with $2.7 million in production and $853 million in assets, while the indie advisors have production of about $860,000 and total assets of $140 million.
February 29, 2012
Merrill Edge Rolls Out Portfolio SeriesBofA's new mass-affluent products have a 1% yearly fee and a $20,000 minimum balance.
February 28, 2012
Raymond James Recruits $2.7 Million Advisor TeamRaymond James added a $2.7 million team to its ranks, the broker-dealer announced Tuesday.
February 28, 2012
SEC, CFTC Issue Joint Rule Proposal on Identity TheftThe SEC on Tuesday announced a rule proposal to help protect investors from identity theft by ensuring that broker-dealers, mutual funds, and other SEC-regulated entities create programs to detect and respond appropriately to red flags.
February 24, 2012
Raymond James Courts Morgan Keegan FAsExecutives at Raymond James and Morgan Keegan say they expect the majority of Morgan Keegans roughly 1,000 employee advisors to stay with the firm after the merger is complete, despite some recruiters claims that the transition package being offered FAs isnt enticing enough.
February 24, 2012
Wirehouses Post Mixed Results for Q4’11Bank of America said in mid-January that it had net income of $2 billion, or $0.15 per share, for the fourth quarter of 2011 vs. a net loss of $1.2 billion, or $0.16 per share in the same year-ago period, meeting analysts expectations.
February 23, 2012
Direct Providers Threaten Advisors’ Client Base: CerulliThose advisors most in jeopardy are those who compete most directly with providers such as Schwab, Fidelity and E*Trade.
February 22, 2012
‘Retiring Isn’t About Age’: Merrill Affluent SurveyThe majority of those surveyed (59%) also believe the age at which Americans are eligible to collect Social Security should be raised.