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Fed pushes Morgan Stanley to tighten wealth management controls
The regulator wants to ensure enough is being done to prevent money laundering by international clients.
UBS wins back Credit Suisse clients
The bank saw stronger-than-expected client inflows of $22 billion in its wealth management business, including $3 billion at Credit Suisse's unit.
SEC keeps up pressure on firms’ cash sweep accounts
'Interest rates are coming back, so where you put clients' money in cash is an issue again,' one attorney notes.
Wells Fargo analyst questions Morgan Stanley’s $20M bonuses
Mike Mayo says the payouts to three senior leaders suggest governance risk.
Morgan Stanley CEO contenders pocketed $20M special bonuses
New Chief Executive Ted Pick and two others were given the equivalent of a year's compensation.
Merrill compensation changes ‘very advisor friendly’
Industry experts give their verdict on the wirehouse’s decision to replace its ‘growth grid’ with a ‘growth award.'
Morgan Stanley names new CEO, head of wealth and more
2024 will bring a fresh look to the wirehouse's leadership.
Raymond James adds $287M AUM wirehouse team in Guam
Two advisors join the firm's employee advisor channel.
Recession not likely, says Morgan Stanley’s Gorman
'If ... you've got a client sitting on a lot of cash earning zero, I would hope you're telling them to put it into Treasuries or something,' Gorman said.
Beacon Pointe adds $2 billion team from UBS
Russell Crow and William Diehl head the Dallas-based group.
Morgan Stanley sees Q3 profit slide on investment bank slowdown
Revenue from the fixed-income trading business slumped 11% and, along with muted fees from dealmaking, caused a drop in net income.
Bank of America sees decline in income for wealth group
CEO Brian Moynihan calls the wealth management group 'the least efficient business in the platform.'
Wells Fargo advisors jumping internally — to FiNet
'The bank is trying to keep advisors who would have left anyway and keep revenue in house,' one recruiter notes.
Wells Fargo Q3 earnings beat estimates
The firm raised its full-year guidance again as it continues to benefit from higher interest rates.
Merrill advisors managing $390M jump to LPL Financial
The Fresno, California-based pair of advisors make the 50th team to join LPL’s Linsco channel.
Merrill adviser overseeing $350M moves to UBS
Matt Burton will join the firm’s Indianapolis office.
UBS nabs two teams from Bernstein Private Wealth
The teams, both in Philadelphia, collectively manage $1.7 billion in assets.
Advisors increasingly rely on home office models, survey says
With more allocation tools at their disposals, advisors are focusing on planning and growing their businesses, Fuse finds.
Morgan Stanley raising pay hurdle for its financial advisors in 2024
'It's a tug of war. The firms want to keep more revenue, and the financial advisors want to do the same,' an industry recruiter says.
RBC recruits UBS team overseeing $1B in client assets
Leawood, Kansas-based Total Wealth Management has seven staffers.
