Which wirehouse did high-net-worth investors rate tops?

Jan 21, 2010 @ 12:48 pm

By Jessica Toonkel Marquez

After all of the controversy and consolidation in the wirehouse sector, Morgan Stanley Smith Barney LLC remains the top-rated firm among high-net-worth investors, according to Cogent Research LLC's 2010 Investor Brandscape report, released today.

Of the top 10 distributors, Morgan Stanley Smith Barney ranked three overall but first among the wirehouses. Merrill Lynch & Co. Inc. ranked fifth, and UBS ranked number seven.

It seems that Morgan Stanley has carried Smith Barney, which it acquired this year, said Meredith Lloyd Rice, an author of the report. Last year, Smith Barney came in at No. 7 in the rankings. “Morgan Stanley is the last man standing, and out of all the wirehouses, it is the one that has performed the best in terms of branding and customer loyalty,” Ms. Lloyd Rice said.

Cogent surveyed 4,000 investors with more than $100,000 in investible assets for the rankings.

Still, the dust-up on Wall Street has provided a sizable opening for rivals. Indeed, online brokerage firms Charles Schwab & Co. Inc., and Fidelity Investments took the first and second spots, respectively. “The banks and wirehouses have really taken a hit over the past couple of years, giving room for the online brokerages to move up,” Ms. Lloyd Rice said.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

Events

What's next for adviser consolidation?

After a strong start to M&A activity in 2017, the year stalled in the third quarter. What's ahead? M&A Expert David Devoe explains.

Video Spotlight

Help Clients Be Prepared, Not Surprised

Sponsored by Prudential

Recommended Video

Path to growth

Latest news & opinion

Brace for steepest rate hikes since 2006 in new year

Citigroup, JPMorgan Chase predict average interest rates across advanced economies will climb to at least 1 percent in 2018.

Why private equity wants a piece of the RIA market

Several factors, including consolidation in the independent advice industry and PE's own growing mountain of cash, are fueling the zeal to invest.

Finra bars former UBS rep for private securities transactions

Regulator says Kenneth Tyrrell engaged in undisclosed trades worth $13 million.

Stripped of fat commissions, nontraded REIT sales tank

The "income, diversify and interest rate" pitch was never the main draw for brokers.

Morgan Stanley fires former Congressman Harold Ford for misconduct

Allegations against the wirehouse's former managing director include sexual harassment, which Ford denies.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print