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.
Merrill to Pay $6M for Advisors Who Herded IPO Shares to Friends, Family
By Janet LevauxAt least 120 financial advisors were involved in prohibited IPO sales tied to Facebook, Twitter and other firms from 2010 to 2018.
December 18, 2018
Putnam Investments Launches 'Always Active' CampaignThe campaign is designed to build awareness of the firm's active management capabilities.
December 17, 2018
UBS Fined $15M by Multiple Agencies for Significant AML DeficienciesAccording to FINRA, SEC and FinCEN, UBS' anti-money laundering systems failed to monitor certain high-risk transactions for years.
December 14, 2018
Will Wells Fargo's New Comp Plan Stop Outflow of Reps?The cuts are less steep than those made recently at many other firms, recruiters say.
December 13, 2018
Wells Fargo to Cut Pay Rate for Lowest-Producing RepsIn 2019, advisors who fall below $250,000 in revenue for the prior 12 months will see their pay rates fall to 19% from 22% of certain monthly targets, and to 47% from 50% of other revenues.
December 13, 2018
Advisors 'Neutral' on Broker Protocol's Impact on Going Indie: SchwabIn a new report, Schwab surveyed 152 advisors that have considered becoming independent registered investment advisors.
December 13, 2018
Ameriprise, Raymond James Nab Wells Fargo Reps: Recruiting RoundupMeanwhile, LPL says that two of its affiliated groups have merged, forming a super OSJ with over 100 advisors and $4 billion in assets under advisement.
December 11, 2018
Morgan Stanley Teams With Yext to Boost Advisor Search Traffic, Digital PresenceThe platform also syncs with AI-equipped voice assistants and chatbots that answer questions about advisors to prospects and clients.