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.
Moody’s Downgrades BofA, Wells Fargo & Citigroup
By Marlene Y. SatterMore advisors may feel the necessity to seek independence, as lack of potential government bailouts led to ratings cut.
September 06, 2011
Broker Population in ‘Shocking Decline,’ Expert SaysIndustry insiders are alarmed by the overall decline in the U.S. broker population, despite data released by Cerulli Associates in late August that showed only a moderate pace of reduction.
September 02, 2011
Can Bank of America Survive Another Beating?The once nearly orphaned Merrill Lynch is BofAs most successful business unit and it is its corporate parent that looks to be near the precipice.
September 01, 2011
Raymond James Upbeat on RecruitingRaymond James Financial reported net income of $46.8 million, or $0.37 per share, for the period ended June 30 vs. income of $60.7 million, or $0.48 per…
September 01, 2011
Scramble for AssetsThough industry efforts will likely serve to soften the Dodd-Frank Wall Street Reform & Consumer Protection Act that President Obama signed into law…
September 01, 2011
Q2 ’11 Earnings: Mixed Wirehouse Results as Wealth-Management Units Improve SalesBank of America said it had a net loss of $8.8 billion, or $0.90 per share, for the second quarter, compared with net income of $3.1 billion, or $0.27…
August 31, 2011
BofA Adds 38 Advisors to Merrill EdgeBank of America has hired 38 Merrill Edge advisors serving mass-affluent clients in and around Washington, D.C., Baltimore and Philadelphia. The hiring is part of BofA-Merrills plan to nearly double the number of Financial Solutions Advisors to 1,000-plus by year-end.
August 29, 2011
BofA Sells Half Its Stake in Chinese Bank for $8.3 BillionBank of America said Monday it was selling about 13 billion common shares, or 5%, of China Construction Bank to a group of investors for some $8.3 billion in cash and an after-tax gain of $3.3 billion.