Wirehouses

Displaying 2346 results
Morgan Stanley files for next round of ETFs
WIREHOUSES JUL 24, 2023
Morgan Stanley files for next round of ETFs

The firm is launching three fixed-income exchange-traded funds bearing the Eaton Vance name, in addition to a Parametric ETF.

By Bloomberg
Ex-UBS wealth chief Tom Naratil joins Lightyear Capital
RIA NEWS JUL 24, 2023
Ex-UBS wealth chief Tom Naratil joins Lightyear Capital

Naratil, a 39-year veteran of UBS, last fall stepped down from his senior roles at the wirehouse.

By Bruce Kelly
UBS to pay $387M in fines linked to Credit Suisse's dealings with Archegos
WIREHOUSES JUL 24, 2023
UBS to pay $387M in fines linked to Credit Suisse's dealings with Archegos

The fines imposed by the Federal Reserve and the Bank of England's Prudential Regulation Authority follow UBS guidance that legal liabilities related to Credit Suisse could total $4 billion.

By Bloomberg
Goldman Sachs, Morgan Stanley and others spend $1 billion on redundancies
PRACTICE MANAGEMENT JUL 21, 2023
Goldman Sachs, Morgan Stanley and others spend $1 billion on redundancies

More job cuts to come, meanwhile JPMorgan is hiring.

By Matthew Sellers
Despite revenue dip, Merrill Lynch growth contributes to strong quarter for BofA
WIREHOUSES JUL 18, 2023
Despite revenue dip, Merrill Lynch growth contributes to strong quarter for BofA

Merrill Lynch client balances grow 8.4% year-over-year to surpass $3 trillion in the second quarter.

By Ryan W. Neal
Earnings wrap: BoA earnings exceed expectations
WIREHOUSES JUL 18, 2023
Earnings wrap: BoA earnings exceed expectations

The wealth management division's a ray of light for Morgan Stanley.

By Bloomberg
Morgan Stanley reports $78M in severance to axed wealth management employees
PRACTICE MANAGEMENT JUL 18, 2023
Morgan Stanley reports $78M in severance to axed wealth management employees

It's not clear what type of employees were laid off, but one industry executive says big firms are rethinking the hiring of administrative assistants.

By Bruce Kelly
Rising assets, rates stabilize wealth management at Wells Fargo
WIREHOUSES JUL 14, 2023
Rising assets, rates stabilize wealth management at Wells Fargo

Along with net interest income, the bank’s total client assets also grew.

By Bruce Kelly
Wells Fargo shares jump after Q2 results exceed estimates
WIREHOUSES JUL 14, 2023
Wells Fargo shares jump after Q2 results exceed estimates

Bank's net interest income soars on back of Fed rate hikes.

By Bloomberg
Credit Suisse bleeds bankers, UBS saves on payouts
PRACTICE MANAGEMENT JUL 14, 2023
Credit Suisse bleeds bankers, UBS saves on payouts

Rivals have poached dozens of senior Credit Suisse investment bankers in recent months, reducing the need for big redundancy packages for UBS.

By Matthew Sellers
Got less than $680,000 to invest? Morgan Stanley doesn’t want your business
PRACTICE MANAGEMENT JUL 13, 2023
Got less than $680,000 to invest? Morgan Stanley doesn’t want your business

The big wealth manager palms off 'low value' clients in Australia.

By Matthew Sellers
Wells Fargo loses $145 million advisor to LPL
INDEPENDENT BROKER DEALERS JUL 12, 2023
Wells Fargo loses $145 million advisor to LPL

Broomall, Pennsylvania-based David W. Rodgers moves for “breadth and depth of services.”

By Matthew Sellers
Merrill Lynch smacked with $12 million penalty for reporting violations
PRACTICE MANAGEMENT JUL 11, 2023
Merrill Lynch smacked with $12 million penalty for reporting violations

According to the SEC and Finra, for years Merrill botched the reporting threshold for potential suspicious transactions.

By Bruce Kelly
CFPB slams BofA with quarter-billion-dollar settlement
WIREHOUSES JUL 11, 2023
CFPB slams BofA with quarter-billion-dollar settlement

The bureau will keep $90 million, with the rest going to consumers, Office of the Comptroller of the Currency.

By Matthew Sellers
AI arrives on Wall Street
FINTECH JUL 10, 2023
AI arrives on Wall Street

Morgan Stanley and JPMorgan seize the initiative, while smaller firms grapple with a lack of standardized data.

By Ryan W. Neal
UBS ordered to pay investor $532,846 for overly risky portfolio
WIREHOUSES JUL 06, 2023
UBS ordered to pay investor $532,846 for overly risky portfolio

Lawyer claims award was a 'poor decision' and should have been bigger.

By Mark Schoeff Jr.
Wells Fargo team with $350 million moves to Raymond James
INDEPENDENT BROKER DEALERS JUL 06, 2023
Wells Fargo team with $350 million moves to Raymond James

Managing partner at Keybridge Wealth Management says team will now have 'complete freedom to advise clients.'

By Ryan W. Neal
Broker-dealer employee hit by SEC legal action
WIREHOUSES JUN 30, 2023
Broker-dealer employee hit by SEC legal action

A Chinese fintech company executive, inside information about Morgan Stanley deals and six-figure illicit profits.

By InvestmentNews
Morgan Stanley gets serious about a new CEO
PRACTICE MANAGEMENT JUN 29, 2023
Morgan Stanley gets serious about a new CEO

Wealth management boss on shortlist of three to replace outgoing Aussie.

By Matthew Sellers
Finra sues smoothie-throwing broker for ducking cash reporting rules
WIREHOUSES JUN 28, 2023
Finra sues smoothie-throwing broker for ducking cash reporting rules

James Iannazzo made cash transactions totaling close to $846,000 to avoid detection, the regulator alleges.

By Bruce Kelly