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Despite a $5.2M YES arb loss, its biggest yet, UBS may keep fighting
It's been win some, lose some for UBS as it defends its complex options strategy, but lately investors seem to be prevailing more.
After Wealthfront, UBS dusts off plan to stress banking, tech and productivity
It's back to an 'organic plan' for the bank's wealth management business in the United States, says Iqbal Khan, co-president of UBS Global Wealth Management.
CEO Scharf sees ‘several years’ of regulatory work ahead for Wells Fargo
The bank remains committed to turning itself around after a series of scandals, but implementing all its plans will take time, Scharf said in prepared testimony for a congressional committee hearing.
Morgan Stanley counting fresh assets in the trillions
After its spate of acquisitions, Morgan Stanley now has relationships with 16.5 million clients, Andy Saperstein, its head of wealth management, points out.
Morgan Stanley adviser managing $185 million joins Ameriprise
Kim Garrison is moving to the firm's employee channel in Springfield, Missouri.
Wells Fargo plans third-party racial equity audit
The announcement that the bank hired law firm Covington & Burling to do an assessment comes as CEO Scharf prepares to appear at a pair of congressional hearings.
Merrill Lynch boosts CFP Board diversity efforts with $1.25 million donation
The firm becomes a founding sponsor of the Center for Financial Planning, whose mission is to build a more inclusive talent pipeline.
DOL orders Wells Fargo to pay $145 million over 401(k) company stock purchases
The Wells Fargo retirement plan paid more than fair market value for stock that diminished participants' savings when it was allocated to their accounts.
Merrill team managing $600 million moves to LPL
Six long-time Merrill advisers in Oakland, California, and Savannah, Georgia, switch to LPL's employee unit, Linsco.
Wells Fargo team managing $670 million joins RBC
The Clemens McHugh Financial Consulting Group is joining the firm in Westlake, Ohio.
Accusations intensify in Wendy Williams’ fight with Wells Fargo
An attorney who formerly represented the TV talk show host claimed that Williams was 'left to die' by her adviser at Wells Fargo and her former business manager.
End of Wealthfront deal dents UBS growth plans in US
The acquisition of the robo-adviser was the centerpiece of UBS CEO Ralph Hamers' focus on broadening the wirehouse's wealth management offering.
Former Merrill broker settles civil lawsuit over throwing smoothie
On Wednesday, James Iannazzo agreed to pay $7,500, an amount his attorney called a 'token payment.'
Goldman, Morgan Stanley move to return employees to office by easing Covid rules
The two investment banks both told staff that they will lift some of their remaining Covid-19 mitigation efforts after the Labor Day weekend.
Wells Fargo adviser managing $220 million goes indie with Steward Partners
Thomas Barr will operate his firm, Barr Wealth Management, from Steward's New York City offices.
Merrill chief cites health care, energy, tech as top sectors to consider now
'This is where investors want to be putting cash to work,' said Andy Sieg, president of Merrill Lynch Wealth Management.
$4 billion team breaks away from Wells Fargo Advisors to form RIA
A desire to act in the best interests of the firm's clients leads to launch of Moran Wealth Management in Naples, Florida, with 36 employees.
iCapital acquires UBS legacy alternative investment feeder fund platform
The fintech has purchased UBS Fund Advisor, the wirehouse’s legacy proprietary U.S. alternative investment manager and feeder fund platform that represents $7 billion in client assets.
‘Wait, you can do that?’ 3 of the biggest eye-openers for breakaways
Here are some of the things about working as an independent adviser that may surprise those who've made the jump from a wirehouse.
Morgan Stanley adds fractional share support to workplace stock plans
The wirehouse is also adding additional automation to its Shareworks and Equity Edge Online platforms.
