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Morgan Stanley ordered to pay $2.4M arbitration award over former broker’s trades
Broker Steven Mark Wyatt was accused of unauthorized and excessive stock-market trading during and after the 2008 financial crisis.
Fund conversion takes toll on UBS’ fee revenue
Fund conversion takes a toll on UBS' fee revenue, but AUM and revenue per adviser hits a record as the firm sheds lower producers.
Morgan Stanley head count dips to record low
Largest firm by number of advisers cedes ground with 3% one-year drop; executives point to shedding of lower producers.
Merrill sacrifices productivity for head count growth
Bank of America CEO Brian Moynihan warned that adviser productivity and profit margins at Merrill may continue to fall as the firm sacrifices short-term profitability for long-term growth.
New BofA wealth chief to deepen bank ties
Merrill Lynch and U.S. Trust advisers can expect an even closer relationship with Bank of America Corp. when Terry Laughlin takes over for David Darnell as head of the BofA's wealth division later this year.
Attrition and breakaways have shrunk head counts at wirehouses
Attrition and breakaways have shrunk head counts at wirehouses, threatening the big four firms as they look to keep pace. (Plus: Our full Spotlight on Wirehouses special report)
Credit Suisse to focus on wealth management
New CEO says firm will also shrink investment bank because of "unsupportive" and "unfavorable" regulation.
BofA wins dismissal of NFL star Dwight Freeney’s $20 million suit
Bank of America has dodged a high-profile, $20 million lawsuit brought by NFL star Dwight Freeney, who sued the company and his Merrill Lynch adviser, but the star's attorney says he plans to refile.
Merrill Lynch nabs $1.3 billion UBS team
The carousel of wirehouse advisers continues to spin.
Merrill fires $2.5 billion-plus adviser
A top broker in California, Marc D. Lowe was dismissed earlier this month for "inappropriate workplace behavior;" circumstances still unclear.
John Thiel: Learn from the past or lose out in the future
On the wall just inside the door of John Thiel’s corner office in downtown Manhattan’s World Financial Center…
Citi to pay $180 million for hedge fund sales linked to Smith Barney
Citigroup has agreed to pay $180 million to settle charges tied to two hedge funds the SEC said were improperly marketed and sold by private bankers and Smith Barney brokers.
Wells Fargo faces major test of broker liability for selling F-Squared
A 68-year-old widower claims wirehouse did insufficient due diligence on the troubled money manager.
Merrill Lynch survey: Big investors are holding the most cash since Lehman Brothers’ collapse
Results of the latest Bank of America Merrill Lynch fund managers survey.
Banks are cutting broker-dealer units from their ‘living wills’
Breakfast with Benjamin: The nation's biggest banks, like JPMorgan Chase, are lumping their broker-dealer units in with other 'non-essential' operations.
Vanguard’s new ambassador to advisers: We’ve earned your trust
Thomas M. Rampulla's return to the U.S. comes after the firm recast itself as a patron of an industry that once saw it as a threat.
J.P. Morgan loses advisers with a combined $7 billion in client assets
Wells Fargo Advisors picks up a Florida adviser with nearly $2 billion and UBS snags a four-person team in New York.
Wirehouses still attracting adviser talent
Despite increasing options in the independent space, majority of adviser moves are still among the big four.
Wirehouses challenged as retention deals fade
Study estimates that between 12% and 20% of long-term packages signed after 2008 mergers will expire annually over the next four years.
Finra arbitration panel awards $500,000 to former Morgan Stanley rep
Broker and wirehouse embroiled in a three-year dispute over a promissory note.
