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.
Schwab Doubles Number of Breakaway-Broker Prospects at Impact 2011
By Janet LevauxAs more wirehouse reps see the terms of their retention packages end, they are seriously exploring their options, Schwab's Tim Oden says.
October 28, 2011
Barclays Adds 6 Advisors, 2 From BofABarclays Wealth said Friday that it recently hired six advisors, including one from Merrill Lynch and one from BofA-U.S. Trust in New York, Boston, Dallas and Miami.
October 28, 2011
Wirehouses to Lose 8% in Market Share, Average AUM Up 10%: CerulliCerulli reports that wirehouse broker-dealers had 43% of industry assets in 2010, an estimated 40% today and an expected 35% by 2013 representing an 8% decline.
October 27, 2011
Volcker Tells Charlie Rose: The 'Volcker Rule' Still WorksLobbying efforts notwithstanding, the Volcker Rule orohibiting banks from proprietary trading is still effective, according to no less an authority than Paul Volcker, for whom it was named.
October 27, 2011
TD Ameritrade Launches Options Market Center for AdvisorsUsing thinkorswim as the platform's basis, the program led by TD's Jeff Chiappetta includes education, validation and trading.
October 25, 2011
UBS Beats Estimates; Net New Money Expands in Americas: Q3 EarningsThe U.S.-based wealth management unit had about 6,900 advisors and inflows of $4.5 billion in the most-recent quarter.
October 21, 2011
IAA’s Tittsworth: Fiduciary Ruling Likely in Q1 of 2012: RISAt Retirement Income Symposium, David Tittsworth provides recent history and likely next developments on fiduciary standard for all.
October 20, 2011
UBS to Trim, Not Sell, Investment Bank, Report SaysAs further details emerge regarding its recent $2.3 billion trading loss, UBS interim CEO Sergio Ermotti has decided against spinning off or selling the investment bank and, instead, plans to reduce its size, especially in its fixed-income work.