Wirehouses

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RIAs are killing it in 2020 recruiting
NEWS RIAS NOV 04, 2020
RIAs are killing it in 2020 recruiting

The numbers are way up, even as firms struggle amid the COVID-19 pandemic

By Bruce Kelly
Family trio managing $200 million at Wells Fargo goes indie with LPL
NEWS BROKER DEALERS NOV 03, 2020
Family trio managing $200 million at Wells Fargo goes indie with LPL

Trilith Wealth Management maintains offices in West Virginia and Florida

By InvestmentNews
Stifel adds three Merrill advisers
NEWS BROKER DEALERS OCT 30, 2020
Stifel adds three Merrill advisers

Dallas duo manages $128 million; Missouri-based adviser manages $115 million

By InvestmentNews
Chip Walker exits Wells Fargo to join Baird
NEWS BROKER DEALERS OCT 30, 2020
Chip Walker exits Wells Fargo to join Baird

Walker will oversee the firm's retail expansion in the St. Louis area

By InvestmentNews
Wells Fargo hits lowest level since 2009
NEWS WIREHOUSES OCT 28, 2020
Wells Fargo hits lowest level since 2009

Investors are waiting to learn more about CEO Scharf's strategy amid news of job cuts, sales of business units

By Bloomberg
Duo managing $475 million at UBS joins RBC
NEWS WIREHOUSES OCT 27, 2020
Duo managing $475 million at UBS joins RBC

Robert Loupee and Michael Graziani shift firms in Bloomfield Hills, Michigan

By InvestmentNews
Wells Fargo exploring $1 billion-plus corporate-trust sale
NEWS WIREHOUSES OCT 27, 2020
Wells Fargo exploring $1 billion-plus corporate-trust sale

The bank is also considering whether to unload its $10 billion student-loan portfolio

By Bloomberg
Adviser managing $220 million at UBS moves to Raymond James
NEWS BROKER DEALERS OCT 26, 2020
Adviser managing $220 million at UBS moves to Raymond James

Mark Parker is joining the firm's employee channel in Memphis, Tennessee

By InvestmentNews
Merrill team managing $550 million moves to Rockefeller Capital
NEWS PRACTICE MANAGEMENT OCT 26, 2020
Merrill team managing $550 million moves to Rockefeller Capital

CM Private Wealth Group is based in Northbrook, Illinois

By InvestmentNews
UBS to boost fixed pay, cut bonuses
NEWS PRACTICE MANAGEMENT OCT 26, 2020
UBS to boost fixed pay, cut bonuses

The changes apply to the bank's more senior employees, some of whom may see their salaries boosted by up to 20%

By Bloomberg
Wells Fargo abandons plans to cut 401(k) match for high earners
NEWS PRACTICE MANAGEMENT OCT 23, 2020
Wells Fargo abandons plans to cut 401(k) match for high earners

The change comes just two days after the original cost-cutting measure was unveiled

By Jeff Benjamin
Wells Fargo said to discuss sale of asset management unit
NEWS WIREHOUSES OCT 23, 2020
Wells Fargo said to discuss sale of asset management unit

Selling the business could bring in more than $3 billion

By Bloomberg
Wells Fargo cuts 401(k) match for high earners, hurting advisers
NEWS PRACTICE MANAGEMENT OCT 22, 2020
Wells Fargo cuts 401(k) match for high earners, hurting advisers

"This is a loss of thousands of dollars," one adviser says

By Bruce Kelly
Former Wells Fargo manager alleges age, race, disability bias
NEWS PRACTICE MANAGEMENT OCT 22, 2020
Former Wells Fargo manager alleges age, race, disability bias

A 65-year-old Black executive in the bank's wealth and investment management arm filed a complaint after losing his job while on medical leave for cancer

By Bloomberg
UBS rolls out small-business 401(k) fiduciary program
NEWS RETIREMENT PLANNING OCT 22, 2020
UBS rolls out small-business 401(k) fiduciary program

The firm is also adding student-loan guidance for workplace wealth clients

By Emile Hallez
Wirehouse advisers more productive than others, Cerulli finds
NEWS PRACTICE MANAGEMENT OCT 21, 2020
Wirehouse advisers more productive than others, Cerulli finds

Investing in technology seems to pay off, but greater staff support could help

By InvestmentNews
Adviser count down, profit up at UBS
NEWS PRACTICE MANAGEMENT OCT 20, 2020
Adviser count down, profit up at UBS

The company has cut back on its recruiting efforts in recent years and instead focused on adviser productivity

By Emile Hallez
Exit of UBS CEO leaves plenty of work for successor
NEWS WIREHOUSES OCT 20, 2020
Exit of UBS CEO leaves plenty of work for successor

Bank reported better-than-expected profits for the third quarter

By Bloomberg
Buffett inches toward Wells Fargo exit
NEWS WIREHOUSES OCT 16, 2020
Buffett inches toward Wells Fargo exit

Since Charlie Scharf became the bank's CEO, Buffett's Berkshire Hathaway has unloaded most of its stake in Wells

By Bloomberg
Morgan Stanley adds advisers during pandemic
NEWS PRACTICE MANAGEMENT OCT 15, 2020
Morgan Stanley adds advisers during pandemic

The wirehouse reports a net increase of 70 advisers during the summer, despite COVID-19

By Bruce Kelly