While the firm has prevailed in some cases involving its options trading strategy. its losses are adding up, too.
CEO Charlie Scharf said in a memo that the bank would halt the use of diversity guidelines for hiring as it reviews the reports of fake interviews.
In 2017, Morgan Stanley and UBS shook up the industry when they exited an agreement on recruiting brokers. Take a look at the data on brokers leaving the wirehouses before and after 2017.
Blackstone's CEO says the firm sees a 'huge' opportunity with retail investors and advisers, while a Morgan Stanley executive talked about recent and potential acquisitions.
The firm and the former rep were ordered to pay Carlos Ramon Tapia Sanchez $160,000 each in damages; his attorney said the broker inappropriately recommended that Sanchez invest in junk bonds.
Morgan Stanley's private wealth management trains advisers to guide their clients through the peaks and valleys of first-generation wealth.
The industry veteran formerly held posts at PaineWebber and Merrill Lynch.
The firm was more than five months late on average in filing suspicious activity reports involving wire transfers to and from foreign countries suspected of terrorism financing and other illegal money movements.
The job interviews seemed designed to bolster Wells Fargo's record of its diversity efforts rather than actually hiring women or people of color, the New York Times reported.
Two filings show that Parametric is moving beyond its current focus on separate accounts and direct indexing to subadvise strategies for Innovator ETFs.
The three advisers, based in Spokane, Washington, will operate as Panorama Wealth Management of Raymond James.
Berkshire Hathaway reported new stakes in banking giant Citigroup Inc. and in auto lender Ally Financial Inc.
After 35 years in the industry, Hays is retiring. He'll be replaced by Sol Gindi, who will also head the Wealth & Investment Management client relationship group.
A Finra arbitration panel ordered UBS to pay the clients $2.9 million in compensatory damages and $966,000 in attorneys' fees.
The four advisers will operate as Heberle Helm Ferguson Group in Monroeville, Pennsylvania.
James Iannazzo, who lost his job at Merrill after a tirade at a smoothie shop, will have the charges against him dismissed after a year under supervision.
Finra says the firm failed to report certain trades in TRACE-eligible securities.
The wirehouse's Global Wealth Management Americas group reported $12 billion in net new fee-generating assets in the first quarter.
The four advisers will operate as Resolute Private Wealth in Forest, Virginia.
Adviser ranks are falling, but the bank reports 7,800 net new client relationships and a growing thirst for alternative investments.
