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.
Financial Advisors and Social Media—Shall We Dance?
By Greg FriedmanIn advisor and software guru Greg Friedman's premiere blog for AdvisorOne, suggestions on how advisors can make strategic sense out of social media.
December 05, 2011
Morgan Stanley CFO: Raise Taxes on WealthyThe U.S. cannot cut its "way to greatness," says Ruth Porat at a New York conference.
November 30, 2011
Merrill Edge Report: Mass Affluent Seeking More Advice, Tightening WalletsThe latest survey finds that 63% of mass-affluent investors turn to advisors and others for financial guidance, up from 53% about six months ago.
November 28, 2011
Reality CheckI was recently accused by one of my friends of being a numbers guy, which, as a former philosophy major and professional journalist, I found quite amusing.
November 23, 2011
Merrill Boosting Edge FSA ForceBofA-Merrill added 27 Merrill Edge financial solutions advisors in Atlanta; Charlotte, N.C.; and Nashville and other nearby cities to its mass-affluent platform in late October. The bank says it is on track to nearly double the number of FSAs in branches and call centers to more than 1,000 by the...
November 23, 2011
Recruiting Wars for Teams Heat UpRecruiters say the departure of Harvey Kadden and his colleagues from Merrill should send a strong warning to Bank of America-Merrill Lynch either improve the relationship between the bank management and FAs or watch more wealth managers depart.
November 23, 2011
Most Earnings Top Estimates on Mixed Advisor-Headcount NewsBank of America reported net income of $6.2 billion, or $0.56 per share, for the third quarter vs. a net loss of $7.3 billion, or $0.77 per share, last year topping analysts estimates by a wide margin. Revenue, net of interest expense (and calculated on a fully taxable-equivalent basis)...
November 23, 2011
Prospecting StrategyA recent survey by Cerulli showed that wirehouse BDs had about a 43% market share of retail asset management as of end-2010 down from almost half the market in 2007. Naturally, other distribution channels were gaining, among them independent BDs and RIAs.