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.
Buffett Puts $5 Billion Into BofA, Draws Criticism
By Janet LevauxBank of America said Thursday that it was selling 50,000 shares of preferred stock with a liquidation value of $100,000 per share and a dividend that pays 6% per year to Berkshire Hathaway.
August 19, 2011
Raymond James Adds HNW Advisor From UBSThe $1 million producer is expected to join the independent channel of Raymond James with about $110 million in client assets.
August 17, 2011
Raymond James Hires Two Merrill AdvisorsRaymond James said Wednesday that it had added two Merrill Lynch advisors to its Raymond James & Associates branch office in Tallahassee, Fla., with about $114 million in assets and more than $600,000 in yearly fees and commissions.
August 17, 2011
Securities America Sale: ‘Amazingly Low Price,’ Expert SaysThe news Wednesday that Ladenburg Thalmann is buying Securities America, for what some call a bargain price, resolves some issues for the IBDs 1,700 advisors, but raises a good number of questions, as well, experts say.
August 15, 2011
Baird Adds 5 Morgan Stanley Advisors in Salt Lake CityThe veteran financial advisors joining Baird manage $250million-plus in client assets.
August 12, 2011
Van Eck, Merrill Let Investors Trade HOLDRs for ETFsThe deal effects six HOLDRS and should take place in the fourth quarter. Merrill Lynch is expected to de-list the HOLDRs after the transaction, according to Van Eck.
August 11, 2011
UBS Picks Up 11 Advisors With $1.2 Billion in AssetsTen of UBS' new financial advisors come from Morgan Stanley and Wells Fargo.
August 10, 2011
Commerzbank Profits Fall 93% on Greece WoesAn indication of how much the debt woes of other countries may affect banks came on Wednesday as Commerzbank AG of Germany said its quarterly profit fell 93% once it had written down the value of its Greek holdings.