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 Cuts Fee, Minimum for Its Robo-Advisory Service
By Bernice NapachWells Fargo's digital offering now has one of the lowest minimums to qualify for advice from a human advisor.
April 16, 2020
Merrill Freezes Recruiting, Relaxes Performance HurdleSome 700 advisor trainees have been given temporary assignments elsewhere in the bank, an executive says.
April 15, 2020
BofA Profits Drop 45% on COVID-19 IssuesThe wealth unit, which includes Merrill Lynch, saw its net income weaken 17% from the first quarter of 2019.
April 15, 2020
Morgan Stanley Wins Nearly $2M in FINRA Arb DisputeThe firm had sought $1.5 million it said an ex-advisor owed from promissory notes, plus fees.
April 14, 2020
SEC Reg BI Seeks to 'Carve Up' Market for Investment Advice, XYPN SaysIt's "just the latest in a series of attempts by the SEC to exceed or misapply its regulatory authority," XYPN said.
April 14, 2020
How Advisors are Handling the Challenge of COVID-19A study from Practical Perspectives describes a deliberate calm among advisors despite some clients' worries.
April 14, 2020
RIA Channel Growth Soaring as More Advisors Break AwayMost employee advisors who want to switch firms say they would prefer to go indie, Cerulli reports.
April 14, 2020
FINRA Bars Ex-Morgan Stanley Rep for Not Cooperating With InquiryThe broker was fired by the wirehouse as it reviewed a mortgage deed execution she was involved in.