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.
Wells Fargo Q3 Earnings Rise 7%, as Wealth Unit Improves Net Income, Assets
By Marlene Y. Satter, Janet LevauxWells Fargo beat analysts' expectations, with Q3 earnings per share of $0.60, and a record $3.34 billion, up 7% from last year's third quarter.
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.
September 01, 2010
Wells Fargo Moves to Fix Tax-Withholding IssueThe bank began letting legacy Wachovia advisors set their own tax-withholding level on commissions in August, after automatically withholding 25% for the past seven months.
August 31, 2010
Wirehouse Assets: Still on Top, But Losing Market ShareThe four largest broker-dealers have about 60%, or $1.1 trillion, of the industry's managed assets, down from 64% last year, according to a recent study.