Iqbal Khan, who had served as co-president of Global Wealth Management with Naratil, was promoted to president. Naureen Hassan will succeed Naratil as president of UBS Americas.
Morgan Stanley revealed its fully armed and operational adviser fintech ecosystem at a recent media event in New York City.
The move would potentially position Iqbal Khan as the eventual successor to CEO Ralph Hamers.
Financial adviser moves are up 3.8% year over year through the first five months of the year but down when compared to their most recent high in 2019.
If the pie keeps growing, wirehouse brokers probably won’t mind getting a relatively smaller slice.
Ongoing discontent, worsened by the pandemic and tech shortfalls, has resulted in 15% of wirehouse advisers and 7% of independent advisers being 'at risk' of exiting their firms in the next two years.
The firm asked for a restraining order against 90-year-old Leonard Bernstein in Oklahoma County District Court Tuesday that would bar him from its offices and from any contact with former colleagues.
Leonard Bernstein is accused of shooting his 61-year-old colleague multiple times in an Oklahoma City branch office.
The award contains two unusual features: $500,000 in punitive damages to the clients and a two-to-one split decision among the three-person panel.
The agency said UBS reps didn't understand the complex product or whether buying it was in a client's best interests.
Mikail Qazi and Timothy Martin are joining UBS Private Wealth Management in Washington, D.C.
Their attorney, Jeffrey Erez, said they were misled by UBS brokers who didn't understand the risky product.
The bank joins a long list of financial backers funding the $130 billion tech-savvy platform for investing in alternatives.
The three advisers are setting up shop as Harvest Wealth in the Maryland suburbs of Washington.
David Kowach is the second senior Wells Fargo executive with deep ties to wealth management to retire in the past two months.
Four advisers in Columbia, South Carolina, form Vision Wealth Advisors.
The four advisers are setting up shop as SkyPath Private Wealth in Summit, New Jersey.
Wells Fargo's IBD, FiNet, hasn't been 'a growth priority' for the wirehouse. Now it is. How has the strategy changed?
The Manhattan U.S. attorney's office is reportedly investigating allegations the firm conducted sham job interviews of minority candidates to satisfy in-house diversity guidelines.
While the firm has prevailed in some cases involving its options trading strategy. its losses are adding up, too.
