Displaying 2253 results
Merrill Lynch cuts its top rate on fee accounts
Reduction from 2.7% to 2.2% could save smaller clients $5,000 a year.
Breakaway UBS, Morgan Stanley teams form $750M RIA
Advisory teams from Houston offices of UBS and Morgan Stanley that collectively managed $750 million have formed Icon…
Morgan Stanley mulls moving New York City headquarters
Firm is considering buying space near Hudson River, site of BlackRock's new offices
UBS exploring fee-based annuities for advisers
The wirehouse would be jumping on a trend toward advisory business that analysts expect to accelerate because of the Labor Department's fiduciary rule.
DOL fiduciary rule class-actions costs could top $150M a year
The plaintiff's bar is licking its chops, looking for a new class to represent
Former Wells Fargo Advisors rep barred by Finra for excessive trading in elderly client’s account
The level of trading was unsuitable for the client given her age, risk tolerance and income needs, according to the regulator.
Merrill Lynch trying to make fees more transparent
The wirehouse will break out fees for asset management services and products including mutual funds, alternative investments and commodities when it mails January account statements later this week
Bank of America’s Merrill Lynch reports a 1% increase in number of financial advisers
Bank's wealth management unit reports higher earnings on lower revenue.
Broker-dealers have different views on recruiting over next six months
DOL rule could prompt some advisers to move ahead of time — and others to stay put until they gauge rule's impact.
Small Custodian Cover
When it comes to the custody of client assets, most registered investment advisers are drawn toward the brand…
Morgan Stanley to move ahead with changes despite uncertainty around DOL fiduciary rule
The firm will make “many” of the pricing and product design changes it planned last year, according to a memo sent to employees.
Steward Partners nears $5B as it continues to recruit wirehouse reps
The firm is an employee-owned, independent partnership associated with Raymond James, and has found success with its collegial 'no-jerk policy' for those who'd like to join.
First Republic starts year with a bang
Picks up two Merrill Lynch groups with nearly $2 billion in assets; more deals might be on the horizon.
RIAs could be ultimate winners if DOL fiduciary rule is repealed or delayed
Differentiating themselves from brokers would be easier now that debate has raised investor awareness of the role of a fiduciary
SEC hits Morgan Stanley with $13 million fine
Says wirehouse overbilled investment advisory clients due to coding and other billing system errors.
Morgan Stanley fined more than $10 million for violating customer protection rule
That rule is intended to safeguard clients' cash and securities so they can be promptly returned should the broker-dealer fail.
Morgan Stanley advisers hit revenue record in fourth quarter
Advisers produced average annualized revenue of $1 million in the period.
Merrill Lynch branch manager resigns over expense reporting
This is at least the second time this fall that Merrill has had a high-profile termination over improper expense reporting.
TruClarity targets midsize wirehouse breakaway reps to launch new RIA firms
From incubator relationship to back-office service provider.
Bank of America wants more referrals from its Merrill Lynch advisers
Brokers will be expected to provide two referrals a year to the bank or face a 1% penalty on their payout. (More: Morgan Stanley sales contests among advisers didn't help clients)
