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.
Wells Fargo Cuts 320 Brokerage Jobs in Virginia: Report
By Janet LevauxNumber of staff in the Wealth and Investment Management unit was 29,515 as of Dec. 31, 2020 — down by 1,303 from the prior year.
January 28, 2021
Fiduciary Advocates Call for Renaming SEC's Reg BIBrian Hamburger, Ron Rhoades and Knut Rostad say Gary Gensler, if confirmed as SEC chief, should rebrand the rule.
January 28, 2021
Schwab, TD Ameritrade Put Brakes on Some GameStop TradingMeanwhile, Wells Fargo has stopped its advisors from making recommendations to clients to buy GameStop or AMC.
January 27, 2021
Solving the 'Diversity Problem' in the Financial Advisory IndustryA new Cerulli report describes the steps firms should take to add, and keep, more women and advisors of color.
January 27, 2021
High Trading Volume in GameStop, AMC Blamed as Platforms CrashInvestors reported problems Wednesday with E-Trade, Fidelity, Merrill, Schwab, thinkorswim and Vanguard. Robinhood had a crypto problem.
January 26, 2021
UBS Wealth Americas Posts 54% Jump in Pretax ProfitsInvested assets hit $1.6 trillion, as the advisor headcount dropped by 244 from last year to 6,305.
January 26, 2021
Recruiter Diamond Consultants Names New PresidentThe news comes as the firm surpasses $200 billion mark for assets moved as part of advisor transitions it's facilitated.
January 22, 2021
Ex-Wells Fargo Exec to Pay $3.5M for Role in Fake Accounts ScandalFormer General Counsel James Strother once vowed to fight charges alleging he turned a blind eye to "rampant criminal and legal violations."