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.
S&P 500 Q3 Earnings Outlook: Optimism in ‘Unprecedented High-Risk Environment’
By Joyce HansonEquity analysts for Standard & Poors see a vast gap between their expectations for record double-digit Q3 earnings versus investors loss of faith in analysts' optimistic earnings forecasts.
September 29, 2011
Where’s Your Compensation Heading?Most financial advisors expect to see a spike in revenue in 2011 but continuing market volatility and a growing unease over Washington have put a chill on any unfettered enthusiasm.
September 29, 2011
Sale of UBS-Americas Would Be ‘Nuclear Option,’ Says ExpertUBS may need to consider spinning off its U.S. operations as a worst-case scenario, according to recruiters and others.
September 28, 2011
FINRA Disciplines Merrill, LPL, National Financial, Van KampenFINRA took disciplinary action against Merrill Lynch, LPL Financial, National Financial Services and Van Kampen Funds. Merrill was censured and fined $400,000 on findings that it failed to enforce its anti-money laundering rules.
September 22, 2011
Moody’s Downgrades BofA, Wells Fargo & CitigroupMore advisors may feel the necessity to seek independence, as lack of potential government bailouts led to ratings cut.
September 16, 2011
UBS Trader Kweku Adoboli Hires Lawyers of Nick Leeson, Rogue ’90s TraderUBS trader Kweku Adoboli was charged Friday with engaging in fraud and false accounting since 2008, and hired the lawyers who represented rogue trader Nick Leeson to defend him.
September 12, 2011
BofA to Slash 30,000 Jobs, $5 Billion a Year in CostsBofA's restructuring comes six days after Sallie Krawcheck was let go as head of wealth management, but company says it will continue to hire FAs.
September 06, 2011
Broker Population in ‘Shocking Decline,’ Expert SaysIndustry insiders are alarmed by the overall decline in the U.S. broker population, despite data released by Cerulli Associates in late August that showed only a moderate pace of reduction.