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.
J.D. Power's Best Firms for Financial Advisors
By Michael S. FischerJ.D. Power and Associates 2010 U.S. Financial Advisor Satisfaction Study ranks firms that satisfy advisors most.
October 20, 2010
Morgan Stanley Advisors Reverse Asset Flows as Firm Sees Q3 LossAfter experiencing client withdrawals of nearly $8 billion in assets during the Q2, Morgan Stanley's U.S.-based advisors produced net inflows of $2.4 billion, while the company overall lost $91 million in Q3.
October 19, 2010
Merrill Results Improve Despite Bank of America's Q3 LossBofA suffers Q3 loss; Merrill's advisor force tops 15,300, as annualized average sales stay above $850,000 per rep.
October 18, 2010
Citigroup Boosts Profits on Weak SalesCitigroup (C) reported third-quarter net income at $2.17 billion, or $0.07 a share, beating analysts' estimates by $0.01. Sales of $20.7 billion, however, missed estimates by $45 million.
October 01, 2010
Wells Shifts Tax-Withholding on CommissionsWells Fargo says it has moved to resolve an issue affecting as many as 11,000 financial advisors who joined Wells Fargo Advisors after the bank...
September 24, 2010
Barclays Wealth Taps Merrill's General Counsel, Other ExecsDonald Gershuny joins from BofA-Merrill Lynch, while Peter Reynolds comes to the firm from RBS Americas and Caroline Simko from Alliance Bernstein.
September 21, 2010
Barclays Wealth Hires Banking Chief from UBSEarlier this year, Barclays Wealth said it planned to invest more than $1 billion globally--on top of an already planned $500 investment--to "transform itself from a top 10 wealth manager to a top tier wealth manager."
September 15, 2010
Why Today's Retention Deals Won't WorkThough advisor movement has slowed, some brokers continue to stray. Here's why.