Some brokers at Merrill Lynch & Co. Inc. and Morgan Stanley have been hesitating to use new advisory options that their firms have deployed as replacements for fee-based brokerage accounts.
Registered investment adviser and independent-contractor-broker-dealer firms looking to attract high-producing wirehouse brokers are increasingly seeking to differentiate themselves in a crowded and competitive marketplace.
As stocks of the large financial services firms get hammered, more brokers could be tempted to leave.
Fund giant's Aa3 rating makes it a low credit risk, but Moody's still worries about transparency.
The firm has upped its subprime-mortgage losses to $27.2 billion, $6.3 billion more than earlier reported.
Brokers at Merrill Lynch & Co. Inc. of New York are upbeat about the prospects for their company following the departure of chief executive E. Stanley O'Neal last week.
Sources say the firm has been asking hedge funds to take on mortgage-related securities.
The worse-than-expected third-quarter losses raise questions as to the fate of chief executive Stanley O’Neal.
The Phoenix Cos. Inc. has formed an alliance with Jefferson National Life Insurance Co. in which Phoenix will use the Jefferson technology platform to offer no-load variable annuities to fee-based advisers at wirehouses and regional broker-dealers.
Cory Little will head the private banking and investment unit in Boston's global wealth management group.
Merrill Lynch is stoutly denying that its finance chief, Jeffrey Edwards, will get the boot.
In an effort to get more wirehouse brokers to break away and become independent registered investment advisers, Schwab Institutional plans to roll out today an all-in-one benefits and payroll package designed for the newly independent RIA.
JPMorgan Chase analyst Kenneth B. Worthington downgraded Merrill's stock to "neutral" from ''overweight.''
Osman Semerci, former head of the fixed-income division, and Dale Lattanzio, former head of structured credit products, have left the firm.
Goldman Sachs analyst William Tanona expects Merrill's third-quarter earnings to decline by 89% to $208.9 million.
Merrill Lynch alumnus Kurt Peterson previously had assets under management of about $177.5 million.
Merrill Lynch has adjusted the value of some investments suffering from the subprime-mortgage market.
TD Ameritrade began sending apology letters to most of its clients after a hacker stole vital information.
Schwab Institutional will provide free portfolio re-balancing software to financial advisers who use its custody services.
