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.
Fed Raises Interest Rates to 22-Year High, Leaves Door Open for More
By Steve MatthewsThe quarter percentage-point hike lifted the target range for the Fed's benchmark federal funds rate to 5.25% to 5.5%, the 11thncrease since March 2022.
July 26, 2023
Schwab Retirement Unit Wants to Expand Deferred Comp ServicesThe new capabilities will be launched in partnership with Newport, which has decades of experience in the deferred comp arena.
July 26, 2023
Elon Musk Wants Twitter to Take On Jamie DimonMusk sees Twitter becoming a financial services hub. But history suggests he faces an uphill battle.
July 25, 2023
Ex-UBS Advisor Says Firm Fired Him Over His DepressionThe wirehouse failed to reasonably accommodate his treatment, according to a lawsuit.
July 25, 2023
LPL Financial to Acquire $6.5B Wealth BusinessThe deal will bring Crown Capital's 260 financial advisors to LPL's platform.
July 25, 2023
UBS to Pay $387M in Credit Suisse-Linked Archegos FinesUBS previously warned that legal liabilities related to Credit Suisse could run to $4 billion over 12 months.
July 24, 2023
Inside Morgan Stanley's Big AI Test for AdvisorsThe chatbot is focused on combing through research and even client conversations, says CIO Sal Cucchiara.
July 19, 2023
Wall Street Layoffs Hit 21,000Bank of America, for instance, has shrunk its headcount by about 5,000 since January and isn't replacing staff who leave.