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Merrill Lynch strikes back with $1.2 billion hire
After a couple big recruiting losses, Merrill picks up a $1.2 billion team of Morgan Stanley private bank advisers.
Cetera president blasts White House memo defending DOL fiduciary
Arguments continue on both sides about the merits of the recently-leaked White House memo and what it means for the standard's future prospects.
Midwest financial adviser team with $463M in assets joins Wells Fargo
Madison Street Financial Group specializes in corporate retirement plans and high-net-worth families.
A recruiting war for recruiters
As competition for advisers intensifies, advisory firms are raiding each other for internal recruiting talent in an effort to get a leg up in the hiring game.
Brokers warned to beef up training on complex products
Regulators alarmed at lack of knowledge brokers demonstrate about the products they're selling.
Expenses take toll on Merrill Lynch’s Q4 earnings
Bank of America Merrill Lynch took a hit in the fourth quarter due to rising expenses and lower interest income, though CEO Brian Moynihan offered a vote of confidence that brokerage chief John Thiel is managing expenses well.
BlackRock fund removed from UBS ‘select’ list
Large wirehouse voices concerns over fund performance, management.
A case for getting bold on gold
On today's Breakfast with Benjamin, are investors ready to run back into precious metals? Plus: What a breakup of JPMorgan Chase would look like, seeing 2015 through the eyes of Jeffrey Gundlach, and the pros and cons of living in a state with no income tax.
Morgan Stanley nabs $6.5B Merrill Lynch private wealth team
Three elite advisers with Merrill Lynch's Private Banking and Investment Group jumped to Morgan on Friday.
Merrill Lynch loses two advisers with combined $2.1 billion in California
One goes to Stifel, the other to UBS. Both had ties to Merrill's elite private banking and investment group that serves ultra-wealthy clients.
Wells Fargo tweaks deferred comp, pay on stock trades
Advisers could earn more deferred pay, but minimum ticket size for payout on equity trades upped to $125.
Wells Fargo eyes acquisitions as profits rise
Coming off a 41% rise in quarterly profits in its wealth unit, Wells Fargo could be interested in an acquisition. Mason Braswell reports.
Wirehouses warm to bank channel recruits
Wirehouses are now focusing on a new market segment in their talent searches: bank channel recruits. Why the change in sentiment for advisers once considered too risky?
Finra raps UBS, Vanguard with fines totaling $850,000
Firms failed to disclose some brokers' bankruptcies and other issues to regulators.
Morgan Stanley fires broker for stealing thousands of clients’ data
Morgan Stanley fired an employee in its wealth management group who had stolen client data and posted some of it online. The theft affected up to 10% — 350,000 — of the firm's 3.5 million wirehouse clients.
$2.5 billion adviser duo fired by Merrill Lynch lands at Stifel
A team of elite advisers who was fired last month by Bank of America Merrill Lynch over private securities transactions has found a new home. (Plus: The team plans to fight back.)
Morgan Stanley seeking female and millennial advisers and clients: Fleming
President of Morgan Stanley's wealth management unit discusses how these demographics will shape the future of wealth and the work force.
Wells Fargo sees results from financial planning
Wells Fargo Advisors capped off 2014 with relatively strong numbers, as fourth-quarter earnings at its wealth division were up 5% year over year, despite costly investments in technology and higher broker commissions.
Fund managers warned that wirehouse outreach may not pay off
Consultancy says fund houses must pivot to independent advisers and new products to drive growth.
Ex-UBS broker claims ‘inhospitable work environment’
Former broker Michael Hadden says wirehouse mislabeled customers' risk tolerance when selling potentially unsuitable products
