Bloomberg

Bloomberg
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Bank of America said to drop Merrill Lynch name from investment bank
ADVISOR NEWS WIREHOUSES FEB 25, 2019
Bank of America said to drop Merrill Lynch name from investment bank

The bank's wealth management unit will use the name Merrill going forward.

Social Finance plans no-fee ETFs
INVESTING ETFS FEB 25, 2019
Social Finance plans no-fee ETFs

Online lender SocialFinance will waive management fees on two stock funds for at least the first year

Wells Fargo CEO Tim Sloan could be hard to oust — here's why
RIAS PRACTICE MANAGEMENT FEB 22, 2019
Wells Fargo CEO Tim Sloan could be hard to oust — here's why

Poaching a replacement from one of the bank's few peers would probably be costly.

UBS prepares for impact of massive $5 billion fine
INVESTING EMERGING MARKETS FEB 22, 2019
UBS prepares for impact of massive $5 billion fine

CEO Sergio Ermotti says bank will prioritize protection of its dividends.

Philadelphia sues seven banks over 'collusion' in municipal bond deals
INVESTING FIXED INCOME FEB 21, 2019
Philadelphia sues seven banks over 'collusion' in municipal bond deals

Banks including JPMorgan and Bank of America conspired to fix prices on floating-rate municipal bonds, according to suit.

Fidelity profit hits record even as assets fall
RIAS RIA NEWS FEB 21, 2019
Fidelity profit hits record even as assets fall

The mutual fund giant's assets under management fell 1% last year, but its revenue rose 12%.

RIAS RIA NEWS FEB 20, 2019
Democrats have a game plan for taxing the rich more

New progressive wing of the Democratic party is zooming in on biggest earners in effort to tackle rising inequality.

Mortgage ETF is one of the most popular this year
INVESTING ETFS FEB 20, 2019
Mortgage ETF is one of the most popular this year

MBS exchange-traded fund is seeing demand from investors looking for safety and a little more yield.

UBS ordered to pay more than $5.1 billion in French tax case
ADVISOR NEWS WIREHOUSES FEB 20, 2019
UBS ordered to pay more than $5.1 billion in French tax case

Bank was found guilty of helping French clients hide assets from tax authorities.

UBS at risk after $5 billion surprise penalty
ADVISOR NEWS REGULATION AND LEGISLATION FEB 20, 2019
UBS at risk after $5 billion surprise penalty

Penalties dwarf what bank set aside for legal issues and exceed earnings for all of last year.