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 to Pay $7.8M in Back Wages Over Hiring Discrimination
By Melanie WaddellThe decision affects some 34,200 African Americans and 310 women who applied for banking, administrative and other jobs.
August 24, 2020
SEC to Take Up Long-Awaited Accredited Investor Definition ChangesAnna Pinedo, partner with Mayer Brown, expects one change will be that various FINRA broker-dealer licenses will be added regardless of net income/net worth.
August 24, 2020
Unlike Rivals, Wells Fargo Is Starting Job Cuts: ReportThe bank plans to shrink its headcount via "attrition, the elimination of open roles and job displacements," a spokesperson told Bloomberg.
August 20, 2020
FINRA Warns of Fake Broker WebsitesThe sites use reps' names and other information and may appear to be their personal sites.
August 20, 2020
Half of Advisors Thinking of Dumping Their Firm for Better Tech: SurveyNearly 8 in 10 advisors said in a Broadridge survey that they'd lost business due to inadequate technology.
August 20, 2020
First Republic Nabs $2.5B Merrill GroupMeanwhile, the Thundering Herd also loses advisors to UBS and Wells Fargo FiNet.
August 20, 2020
LPL Pledges $1B to Put Advisors on Growth 'Superhighway'The broker-dealer wants its advice business to work more like Amazon, Netflix and eBay to outperform "institutional" rivals like Schwab, says CEO Dan Arnold.
August 18, 2020
UBS Reps Suspended for Unauthorized TradingFINRA also suspends ex-Edward Jones rep, claiming he settled a client complaint without the knowledge or approval of the firm.