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.
Reality Check
By Bob ClarkI was recently accused by one of my friends of being a numbers guy, which, as a former philosophy major and professional journalist, I found quite amusing.
November 23, 2011
Most Earnings Top Estimates on Mixed Advisor-Headcount NewsBank of America reported net income of $6.2 billion, or $0.56 per share, for the third quarter vs. a net loss of $7.3 billion, or $0.77 per share, last year topping analysts estimates by a wide margin. Revenue, net of interest expense (and calculated on a fully taxable-equivalent basis)...
November 23, 2011
Prospecting StrategyA recent survey by Cerulli showed that wirehouse BDs had about a 43% market share of retail asset management as of end-2010 down from almost half the market in 2007. Naturally, other distribution channels were gaining, among them independent BDs and RIAs.
November 21, 2011
BondDesk’s New Partnership With Trade West Creates ‘Retail Supermarket for Bonds’BondDesk's deal with Trade West gives investors access to individual bond sales via third-party platforms that compete with the BondDesk automated trading system.
November 21, 2011
Mobile Tech and Advisors, Part 1: Its Place in the BusinessFor advisors and their partners, a mobile strategy is much more than just another channel for apps
November 18, 2011
Asset Management Will Face Greater Headwinds in 2012: McKinsey ReportThe U.S. asset management industrys apparent resilience has temporarily masked serious challenges related to costs, productivity and growth, according to a report by McKinsey & Co.
November 16, 2011
5 Best & Worst Broker-Dealers: Q3 EarningsBrokerage firms in the third quarter boosted earnings growth as high as nearly 2,200% and reported declines as low as 120% AdvisorOne selected a lucky 10 to spotlight.
November 15, 2011
UBS Names Ermotti CEOUBS made its temporary appointment of Sergio Ermotti as CEO permanent on Tuesday as it sought to reassure investors in the wake of a $2 billion trading scandal.