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 Nabs 2 Advisors, Wells Adds 5
By Janet LevauxThe new Merrill team has $3 billion in assets, while each of Wells Fargos latest recruits produces more than $1 million in yearly fees and commissions.
April 29, 2014
SEC’s White Pleads for Advisor Exam Funds; Rep. Waters ‘Pushing Hard’ for User Fees BillIn 2004, the SEC had 19 examiners per trillion dollars in investment advisor assets under management, says White. Today, we have only eight.
April 29, 2014
Bank of America Fighting to Keep Dividend Hike After $4 Billion BlunderBank of America's note valuation error is "a step backwards for them," says one institutional investor, and "raises credibility issues."
April 28, 2014
BofA Halts Buybacks, Dividend Increase After Error; Stock DivesBank of America made a mistake in its stress-test report to the Federal Reserve; the stock took a 5.2% intraday slide.
April 25, 2014
Ex-Bank of America CFO to Pay $7.5M Fine to New YorkNew York attorney generals settlement with Joe Price over Merrill merger comes one month after $25 million deal with ex-Bank of America CEO Ken Lewis.
April 25, 2014
Merrill Grabs $300M Morgan Stanley TeamAlso, an ex-Wachovia advisor joins Pitcairn, and Raymond James adds succession tools.
April 17, 2014
Raymond James, Securities America and NFP Unit Add Teams, BreakawaysSix reps, including two father-son teams, switched firms with a total of more than $920 million in client assets.
April 17, 2014
Morgan Stanley Beats Estimates on Fixed Income SurpriseA jump in fixed-income results helped Morgan Stanley post the only increase in trading revenue among the six biggest U.S. banks this year.