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.
FINRA Fines, Suspends Ex-Morgan Stanley Rep for Allegedly Hogging Commissions
By Jeff BermanThe rep was one of several brokers fired by the wirehouse over alleged abuses in its Former Advisor Program.
December 22, 2021
Harry Dent's Stock Market, Economic Predictions, 1999-2021: How Did They Turn Out?While the "Contrarian's Contrarian" made a name for himself on some correct calls, he has frequently missed the mark.
December 22, 2021
FINRA Fines Merrill $950K for Failing to Red-Flag Reps Stealing From ClientsTwo of the firm's reps stole over $6 million from 13 clients in separate schemes that ran for several years, according to FINRA.
December 21, 2021
FINRA Orders Advisor Group, LPL, MML, UBS, Wells Fargo to Pay $9.5M Over 529 PlansFINRA has been encouraging firms to self-report problems with 529 plan share class recommendations.
December 15, 2021
Wells Fargo Simplifies Comp Hurdles for 2022At the same time, the wirehouse has enhanced the bonus opportunities for its registered representatives.
December 13, 2021
Goldman, Morgan Stanley Say Any Drop in Stocks Likely to Be SmallCurrent index levels, they said, indicate low single-digit returns over 12 months with a maximum drop between 5 and 10%.
December 07, 2021
Ex-Merrill Broker Arrested Over Charges Tied to $1M ScamThe former broker allegedly used investors' funds to buy a luxury car "and pay fees for a private golf club on Long Island," says the DOJ.
December 07, 2021
FINRA Fines Wells Fargo $2.25MWells Fargo Advisors Financial Network and Wells Fargo Clearing Services failed to store about 13 million client records in the "WORM" format.