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.
Morgan Stanley to Pay $800K for Overcharging Clients
By Jeff BermanClients across over 2,000 accounts allegedly paid about $802,000 in excess sales charges and fees, according to FINRA.
December 27, 2022
Wall Street's Big Banks Score $1T of Profit in a DecadeWhile much attention focused on Silicon Valley's riches, banks like JPMorgan, BofA, Wells Fargo and others were gaining momentum.
December 20, 2022
Ex-Merrill Advisor Who Threw Smoothie Catches FINRA's Eye Over Cash TransactionsFINRA says James Iannazzo structured cash transactions in his personal accounts to avoid federal reporting requirements.
December 20, 2022
Wells Fargo to Pay $3.7B for Mistreating ClientsThe action includes a $1.7 billion fine tied to issues with the bank's car loans, mortgages and deposit accounts.
December 19, 2022
15 Financial Firms That Are Laying Off WorkersThe trend of surging headcounts in the industry appears to be reversing for now.
December 19, 2022
New Stock Market Low Coming in 2023: Morgan Stanley Strategist"Don't assume the market is pricing this kind of outcome until it actually happens," says Michael Wilson.
December 16, 2022
6 Unexpected Questions Clients Asked This Year: Advisors' AdviceSometimes advisors' role in supporting and educating clients takes them in surprising directions.
December 16, 2022
11 Big Advisor Regs That Moved Forward in 2022The SEC, FINRA and DOL have proposed or finalized several rules this year.