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.
SEC, FINRA Enforcement Roundup: Merrill Slapped With $500,000 Fine
By Marlene Y. SatterRecent FINRA actions include a $500,000 fine against Merrill Lynch for failing to file required reports, and a joint action with the SEC and the exchanges against Hold Brothers.
September 25, 2012
Recruiting Activity Gathering Steam As FAs Embrace Wide Range of OptionsMany brokers continued to move between the wirehouses in the late summer and early fall.
September 25, 2012
Morgan Stanley, Citi Strike Deal on MSSBMorgan Stanley and Citigroup have agreed on the valuation to be used in pricing Morgan Stanleys purchase of the remaining stake in the Morgan Stanley Smith Barney joint venture: $13.5 billion for the full business, which includes close to 17,000 advisors.
September 25, 2012
Morgan Stanley Drops Smith Barney From NameThe name change was not unexpected, said a recruiter. Finally, we have the culmination of what was not a joint venture, but a takeover.
September 21, 2012
Ex-Morgan Stanley Broker Tells Advisors to Grow a SpineSkittish clients are leading the conversations and have made advisors spineless, says Bob Auer of Auer Growth Fund, who left Morgan Stanley in 2007.
September 20, 2012
MSSB Reps Depart for Wedbush, BairdThe Morgan Stanley advisor joining Baird oversees $120 million in assets.
September 19, 2012
Mass Affluent Consumer Is the ‘New Black’Just as fashionistas once declared that pink was the new black, mass affluent consumers are on the verge of overtaking HNW clients as a desirable customer base for retail banks, says HNW Inc.
September 19, 2012
Wells’ FiNet Adds Teams From Morgan Stanley, UBS & ChaseThe newly independent financial advisors are coming to Wells Fargo's Financial Network with a total of nearly $675 million in assets.