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.
Q2 Earnings: BofA Posts Big Loss; Merrill Adds Advisors
By Janet LevauxLoss was spurred by mortgage settlement that included Countrywide issues; Merrill Lynch now includes more than 16,240 advisors with average yearly sales of $894,000.
July 14, 2011
Q2 Earnings Outlook: Financial Firms’ Reporting Season Off to Good StartBut with new rules hitting banks, corporate results could face headwinds in the second quarter of 2011.
July 13, 2011
Hightower Moves Into Virginia With Morgan Stanley Breakaway TeamVWG Wealth Management, a Virginia-based breakaway RIA team from Morgan Stanley, joined Hightower, led by RIA powerhouse Elliot Weissbluth, over the weekend.
July 12, 2011
A Fiduciary Standard: The Next Big (Marketing) Thing?If brokers can call themselves fiduciaries without actually being so, having a 'fiduciary duty' may become the next powerful marketing tool.
July 12, 2011
Merrill Moving to Align Pay to HNW Focus for FAsChanges to the incentive grid would reportedly give extra rewards to teams and advisors with fewer but higher-net-worth clients.
July 01, 2011
BDs Should Embrace - Not Shun - Social Media, Says Software ExecChad Bockius, CEO of Austin-based Socialware, has been following the use of social media in the financial-services industry for several years. In mid-2008,…
July 01, 2011
FINRA Fines Merrill, Credit SuisseThe Financial Industry Regulatory Authority said recently that it fined Credit Suisse Securities (USA) LLC $4.5 million and Bank of America’s Merrill…
July 01, 2011
Morgan Stanley Moves to Fire More FAsThree months after firing about 300 advisors, Morgan Stanley is poised to get rid of more lower-producing FAs. “We may go below the previously stated…