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Former Merrill Lynch broker accused of 18-year Ponzi scheme
A former Merrill Lynch broker already serving a 33-month sentence for securities fraud is back in the hot seat after being indicted for an 18-year Ponzi scheme.
Musk’s next move; brokers fail to report trouble
The Tesla chief wants to get into military satellite launching. Plus, brokers failing to report trouble to Finra, stocks (and Costco earnings) drop, the Citi/Oceanografia plot thinkens, who you should follow on Twitter, and more.
Ex-Wells Fargo adviser wins nearly $1 million in promissory note quarrel
Wells Fargo sought $76,152 from a former broker, but in the end was ordered to pay the adviser more than 10 times that amount .
Bank of America won’t face damages claim over Merrill in N.Y. suit
Lawsuit over '09 acquisition seeks injunction barring individuals from the securities industry.
Top executive to depart Wells Fargo Financial Network
Outgoing regional director Ron Sallet had talks with Dynasty, sources say.
Advisers still leaving wirehouses but there’s no exodus
Strong profits from asset fees and potential regulatory changes are keeping most wirehouse reps in their seats, as the firms have mostly maintained their adviser forces since the third quarter of 2011.(Plus: Wall Street's pay gloom)
Morgan Stanley suffers big client asset loss in 3Q as advisers split
Morgan Stanley suffered $8.4B in client asset losses in the third quarter as big advisers split. The wirehouse says attrition is near record lows but some disagree.
<i>Live! From TD Ameritrade Institutional:</b></i> Advisers have targets on their backs from wirehouses, robo-advisers
To help advisers compete, executives announce rollout of update to VEO platform, intern network and a new retirement plan platform.
Investors of all asset levels attracted to self-directed trading platforms
With investors of all asset levels attracted to self-directed trading platforms, advisers need to keep up with all the do-it-yourself online offerings because the DIY channel is mainstream.
Ex-Merrill adviser sentenced to 10 years in prison
A former Bank of America Merrill Lynch financial adviser was sentenced to 10 years in prison for running a Ponzi scheme that defrauded at least six investors of $2.7 million. Mason Braswell has the story.
Individual advisers can be liable for money laundering, Finra warns
In some cases, the failure to supervise rests with the adviser, not the firm, senior director says.
Two teams split Morgan Stanley to go independent
Focus hires $250 million team, on the heels of the departure of $550 million team to Raymond James.
Morgan Stanley hits key growth target in 4Q as pretax profit margin reaches 20%
As Morgan Stanley chief executive James Gorman sets a new profit margin target for the firm's wealth management unit, executives will be looking to advisers to capitalize on new opportunities, such as lending to high-net-worth clients, an area where the firm lags.
After turnaround, UBS caps off banner year
Margins continued to improve as profit jumped 64%.
UBS sees recruitment pay off in the fourth quarter
With a year-end windfall of veteran advisers, the firm topped off a year of big gains. Check out how UBS stacks up against the other wirehouses.
Morgan Stanley tweaks compensation plan
Morgan Stanley will reduce payouts to low-performing experienced brokers, expand awards for hitting performance targets and enhance bonuses for increasing lending, according to details of the plan confirmed by InvestmentNews.
Merrill Lynch nabs $400M team from Morgan Stanley
Veteran advisers Michael Bromberg and Daniel Gerschel join in New York.
Online platforms a growing threat to traditional advisers
Two reports show growing popularity of web-based personal finance startups and discount brokerage platforms in wake of 2008 crisis.
Former Wells Fargo broker embroiled in insider beef
A broker who had a client invested in the private-equity shop that was acquiring Burger King was ordered to pay $5.6 million to settle insider trading charges related to the deal.
New plan for Barclays advisers offers more even ratio between salary and bonus
A new plan for Barclays advisers offers a more even ratio between salaries and bonuses. The payout grid remains in place, but it's not the same. Plus: How adviser salaries stack up vs. other jobs
