February 7, 2012

Suit over Merrill acquistion moves ahead — now as a class-action

Judge gives approval to certification; plaintiff's claim BofA misled shareholders about bonuses, losses

• Bank of America Corp.,
• Merrill Lynch,
• wirehouses

February 6, 2012

James Gorman: Market doesn't 'understand' Smith Barney deal

James Gorman, the CEO of Morgan Stanley, says the market doesn't understand the potential of the firm's acquisition of Smith Barney. "They're focused on what our margins have been."

• brokerage,
• Morgan Stanley Smith Barney (MSSB),
• wirehouses

January 22, 2012

Wirehouse market share has shriveled since crisis

By Andrew Osterland

The wirehouses have been losing market share hand-over-fist since the financial crisis, and according to estimates from Cerulli Associates Inc., the trend may only accelerate over the next three years. “The advisory industry as a whole continues to rebound, but the four...

• wirehouses

January 18, 2012

Wirehouse market share thinning

By Andrew Osterland

Researcher says slice could dip to 35% by 2013, down from 50% in 2007; some self-pruning

• wirehouses

January 8, 2012

Merrill Lynch raises the bar for small brokers

By Andrew Osterland

The latest compensation changes being made by Merrill Lynch Wealth Management to encourage brokers to go after wealthier clients could hurt broker trainees, small-market financial advisers and low-end producers.

• Merrill Lynch,
• wirehouses

December 18, 2011

John Thiel: Calming the Merrill Lynch herd

By Andrew Osterland

When John Thiel took over as head of U.S. Wealth Management for Bank of America Merrill Lynch in April, the 15,000 or so Merrill Lynch financial advisers breathed a collective sigh of relief.

• Bank of America Corp.,
• Merrill Lynch,
• wirehouses

December 7, 2011

Sluggish start, but recruiting moves heating up to close 2011

By Mark Bruno

While some aspects of recruiting activity in the brokerage industry appears to have slowed a bit in 2011, things have started to heat up as of late -- with a number of large teams recently changing place, according to data tracked by InvestmentNews.

• wirehouses

December 4, 2011

McCann, rising at UBS, gets plum job

By Andrew Osterland

UBS AG appears to be making good on its pledge to sharpen its focus on wealth management and rein in its investment banking operations.

• UBS AG,
• wealth management,
• wirehouses

November 18, 2011

Why billion-dollar brokers are on the move

A handful of top-tier advisers and teams have changed firms in the last 30 days, according to our Advisers on the Move database.

• recruiting,
• wirehouses

November 13, 2011

Focus Financial adds Sapient in eighth acquisition this year

By Andrew Osterland

Sapient Private Wealth Management, a fee-based investment adviser in Eugene, Ore., last week joined Focus Financial Partners LLC, marking the eighth transaction completed by Focus this year

• wealth management,
• wirehouses