'I think in the wealth and asset management spaces internationally, we punch below our weight,' Chairman and CEO James Gorman said during the firm's conference call to discuss first-quarter earnings.
The former rep, Joseph C. DeNicola, alleged wrongful termination, defamation and unpaid compensation.
In its appeal, the firm argues that the judge was wrong and that the arbitration decision it had initially won against a client should stand.
The new team will offer investments that focus on promoting equality, expanding opportunities and improving outcomes for underrepresented or marginalized groups.
As chief strategy officer, LPL's former chief investment officer will join the executive board and report directly to Ron Carson.
The asset sale suggests Morgan Stanley won't be following some competing Wall Street firms that are migrating toward the RIA space.
The father-and-son team of David and Mitch Vallie is based in Grand Blanc, Michigan.
Competitors, who couldn’t figure out how Morgan Stanley was bidding for block trades at such tight discounts, are now swapping 'I told you so’s.'
The Swiss bank expects about 10% of its workers in the US to go remote as the program is implemented in phases, starting at the wealth unit.
It was the only wirehouse to show a net increase in financial advisers last year, according to InvestmentNews data.
Pasadena-based Floe Financial Partners had been affiliated with LPL prior to joining Wells Fargo in 2012.
Firms have made plans to return employees and advisers to offices in the past but have scuttled those due to flare-ups of the pandemic.
The three-person Arnold & Tai Group is joining the firm in Denver.
Some of the biggest brands in wealth management are trying to figure out what normal looks like, and how and whether it makes sense to bring employees back to the office.
John Alexander is the second senior manager with two decades at the firm to leave Wells Fargo Advisors in recent months.
Charlie Scharf earned $24.5 million last year, up from $20.3 million for 2020.
The RIA channel saw a net gain of 1,530 financial advisers in 2021, while the wirehouses had a net loss of 2,065.
The hiring push comes after Merrill and Bank of America reported a 6.3% decline in financial adviser head count last year.
James Iannazzo, who's facing three charges as a result of the incident in January, seeks to plead not guilty and be put on probation for up to two years.
No details about closing branches or offices of Wells Fargo Advisors locations were included in the filing with the Securities and Exchange Commission.
