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.
Piling On Goldman While Obscuring the Big Truth
By Knut A. RostadWhat's been almost entirely missing from the frenzy is a discussion of why Goldman Sachs, according to Greg Smith, was not violating federal regulations.
March 15, 2012
Goldman Sachs Ripped by Critics for History of Putting Profits Over ClientsGreg Smiths very public resignation from Goldman Sachs has sparked heated discussion in the financial services industry, not only on the propriety of Smiths New York Times op-ed but on the substance of the former Goldman executives accusations against the firm.
March 13, 2012
‘Reformed Broker’ Gadfly Joins BrightScope as Social Media AdvisorJoshua Brown, the angry former broker who made a name for himself by saying out loud what others in the finance industry just think, has joined the advisory board of 401(k) analytics firm BrightScope.
March 12, 2012
Morgan Stanley Team Goes Hybrid via LPLThe group, one of the largest teams in San Diego, left Morgan Stanley Smith Barney recently to set up an independent wealth-management firm, Ibis Capital. The firm plans to retain about 80 client relationships.
March 12, 2012
FINRA’s Top 5 Enforcement Issues of 2011A survey of FINRA sanctions by Sutherland Asbill focuses on the top enforcement issues in 2011, showing that fines jumped 51% over 2010, with more reps barred.
March 09, 2012
Where Are the New Advisors? (AdvisorOne)Financial advisors are leaving the industry faster than they can be replaced, which has forced firms to get a little creative in how they go about replenishing the stock.
March 08, 2012
Direct Firms Can Grow Through Managed Accounts: CerulliIn its managed accounts edition of The Cerulli Edge, the company finds that even as wirehouse market share declines, that of the direct channel is growing steadily, if not at a breakneck pace. The reason? Direct providers are able to keep their existing self-directed clients interested by providing managed accounts...
March 05, 2012
Billion-Dollar Merrill Private Banking Team Joins HighTowerThe $1 billion Merrill Lynch private banking team joined Chicago-based RIA HighTowers New York office on Friday.