Results for "wirehouses"

Displaying 1,476 results

Sort: Date | Relevance

Author:

A new pay model: 300 advisers move, and the entire industry feels the shift

May 4, 2019

Bank of America's decision to move 300 Merrill Edge advisers into its Merrill Lynch Wealth Management branch offices last month didn't attract much attention. But 10 years from now, people might point to it as a watershed moment in the evolution...

Salary model exploited by rivals

May 4, 2019

The Big Four wirehouses control trillions of dollars of client assets and are not about to disappear anytime soon. But they have been losing individual and groups of advisers to competitors. According to InvestmentNews data, 235 individual advisers...

Wells Fargo Advisors looks to cut red tape for advisers in reorganization

May 1, 2019

Wells Fargo Advisors continues its restructuring, reducing the number of regions its financial advisers work under from 21 to 14. The firm's roughly 12,000 advisers who work in the firm's employee channel work within those regions. The move...

Choppy stock market leads to fewer wirehouse reps fleeing the coop

April 30, 2019

The stock market correction at the end of last year is being credited with putting a damper on breakaway broker activity during the first three months of this year. The latest data from Echelon Partners show that just 94 advisers exited the...

UBS loses 166 advisers in its Americas unit over the past year

April 25, 2019

UBS lost 60 advisers in the first quarter compared with the previous quarter, pushing the total drop in adviser headcount over the past 12 months to 166, a 2.4% decline, the company reported Thursday. The firm's headcount, 6,790 at the end of...

UBS says wealthy clients add $22 billion in Q1

April 25, 2019

Rich Asians came to the rescue of UBS Group in the first quarter after CEO Sergio Ermotti's dire outlook on market conditions sent investors into shock and investment banking revenue plummeted. Wealthy clients in the Asia-Pacific region accounted...

Morgan Stanley shakes up wealth unit

April 24, 2019

Morgan Stanley CEO James Gorman shook up leadership of the firm's massive wealth management division, assigning one of its co-heads to focus on bank units offering loans and deposit accounts. The move affects two executives who've been widely...

Wells Fargo annual meeting 'less relevant' amid bank's CEO search

April 22, 2019

Wells Fargo & Co.'s top managers and board members are set to face investors Tuesday, but the bank's conspicuous lack of a CEO has damped expectations that it will say anything new about how to emerge from the shadow of customer-abuse scandals...

IBD report: Another impressive year

April 20, 2019

Despite a stock market decline, the largest independent broker-dealers turned in another stellar year in 2018, with revenue for the top 25 firms participating in an InvestmentNews survey reaching $25.5 billion, a 14.7% increase over 2017. The...

Variable annuity sales up big among independent broker-dealers

April 19, 2019

Independent broker-dealers saw big growth in their sales of variable annuities last year, even as other distribution channels such as the wirehouses and other large national brokerage houses saw sales stay flat or decline. The boost appears...

Morgan Stanley rides wealth management train to solid first quarter

April 17, 2019

The first-quarter stock market rebound was cited as a driving force behind the strength of Morgan Stanley's wealth management business, which generated $4.39 billion in revenues during the quarter and beat analyst estimates by $200 million....

For Merrill Lynch, emphasis on new clients and cross-selling paying off

April 16, 2019

Merrill Lynch's effort to motivate financial advisers to reel in new clients and cross-sell financial products from parent Bank of America is working, with the company reporting Tuesday that its wealth management advisers are on track for six...

Headcount at Wells Fargo Advisors continues to slide

April 12, 2019

The two-and-a-half-year trend of brokers and financial advisers leaving Wells Fargo Advisors accelerated in the first quarter, although the company is saying internally and externally that it is starting the year with good results in recruiting...

Principal to buy Wells Fargo retirement unit for $1.2 billion

April 9, 2019

Principal Financial Group Inc. agreed to buy Wells Fargo & Co.'s retirement plan services unit for $1.2 billion as the bank streamlines operations in the wake of scandals. The business, which has $827 billion in assets under administration,...

Buffett urges Wells Fargo to look beyond Wall Street for CEO

April 8, 2019

Warren Buffett, the largest shareholder in Wells Fargo & Co., says the bank should look outside Wall Street for its new chief executive officer to avoid drawing criticism in Washington. "They just have to come from some place [outside Wells]...

Wells Fargo CEO Tim Sloan steps down

March 28, 2019

Wells Fargo & Co. Chief Executive Officer Tim Sloan has stepped down effective immediately amid mounting pressure over the lender's scandals, and will be replaced on an interim basis by the bank's general counsel, C. Allen Parker. The bank is...

Regional firms provide an alternative to wirehouses

March 27, 2019

"Independence is not for everyone." So said my friend, a senior brokerage firm executive, after reading my last column on corporate culture. And, of course, he is right. While going independent with a registered investment adviser or an independent...

Warren, Brown ask regulators to oust Wells Fargo CEO Sloan

March 22, 2019

Sen. Elizabeth Warren is again taking aim at Wells Fargo & Co. CEO Tim Sloan, this time asking federal regulators to invoke their power to make management changes. The Democratic senator and presidential candidate joined Ohio Democrat Sherrod...

Wells Fargo hits more bumps as it tries to move past scandals

March 21, 2019

A federal judge said he's not ready to sign off on Wells Fargo & Co. collecting $240 million in insurance payments from 20 bank officials in connection with the lender's unauthorized-accounts scandal — even though the settlement was touted...

Wells Fargo could be putting more of its focus on wealth management

March 20, 2019

Wells Fargo & Co. appears to be paring back on its businesses, and that could be a good thing for the 14,000 financial advisers and registered reps who work under the roof of its brokerage and advisory subsidiary, Wells Fargo Advisors. After...

« Previous PageNext Page »

1 | 2 | 3 | 4 | 5 | 6 ... 74

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.