Mason Braswell writes about all things related to wirehouses and registered investment advisers for InvestmentNews. Since graduating from New York University in 2012, he has been covering the business of financial advice. In his spare time, Mason can be found wandering the street of New York City with his camera. Follow him on Twitter @masonbraswell for updates on wirehouses, RIAs and regulatory issues facing the industry.
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, threatening the big four firms as they look to keep pace. (Plus: Our full Spotlight on Wirehouses special report)
Oscar Donald Overbey, Jr., was sentenced to 3-1/2 years in federal prison and must repay more than $3 million in restitution from Ponzi.
Company bucks industry trend toward forming broker teams.
Anonymous founders say they are returning to their day jobs and focusing on protecting their identities.
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.
Sending a message that brokerage firms need to step up their monitoring, Finra settled with Morgan Stanley and Scottrade for failing to supervise wire transfers.
A top broker in California, Marc D. Lowe was dismissed earlier this month for "inappropriate workplace behavior;" circumstances still unclear.
Firm agrees to pay up to settle charges that some of its brokers were using titles that did not comply with Massachusetts' senior designation regulations.
Massachusetts' top securities cop has charged the firm with failure to supervise a broker who allegedly used deceptive advertising on his radio show, exploiting the dangers of Alzheimer's to gain access to elderly clients.
