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.
UBS Cutting Dozens of Staff in Wealth-Management Revamp
By Emily Chasan and Sonali BasakThe developments are taking place after the business reported a withdrawal of assets by clients in the latest quarter.
July 19, 2018
Wells Fargo Issuing Refunds for Pet Insurance, Legal Services: ReportThe news comes about a week after the bank explained that it would spend $114 million on refunds to wealth-unit clients.
July 18, 2018
Morgan Stanley's Almost-Flawless Quarter Gets Wall Street KudosShares up as much as 4.7%, most intraday since February 2017; other big bank shares rise, but not as much as Morgan Stanley.
July 16, 2018
BofA Tops Estimates for Q2 Earnings; Wealth Profits Up 20%The bank says the number of Merrill Lynch financial advisors rose by 70 from last year to 14,820.
July 16, 2018
Ami Forte, Ex-Morgan Stanley Star, Portrayed Falsely by Former Boss, Lawyer SaysForte's former branch manager was "bought off" by Morgan, her lawyer tells ThinkAdvisor.
July 13, 2018
The Wealth Management Arms Race Is Heating UpBig banks are bolstering their private-banking efforts amid growing competition from boutiques.
July 13, 2018
Wells Fargo Misses Earnings Estimates, Reports $114M Wealth-Unit RefundNet income retreats 11% to $5.2 billion; bank's average loans in quarter lowest in more than two years.
July 12, 2018
Fidelity Launches Model Portfolios for AdvisorsFidelity Model Portfolios debuts with five different portfolios consisting of 7 to 12 Fidelity funds, based on risk tolerance.