As Morgan Stanley chief executive James Gorman sets a new profit margin target for the firm's wealth management unit, executives will be looking to advisers to capitalize on new opportunities, such as lending to high-net-worth clients, an area where the firm lags.
Margins continued to improve as profit jumped 64%.
With a year-end windfall of veteran advisers, the firm topped off a year of big gains. Check out how UBS stacks up against the other wirehouses.
Morgan Stanley will reduce payouts to low-performing experienced brokers, expand awards for hitting performance targets and enhance bonuses for increasing lending, according to details of the plan confirmed by <i>InvestmentNews</i>.
Veteran advisers Michael Bromberg and Daniel Gerschel join in New York.
Two reports show growing popularity of web-based personal finance startups and discount brokerage platforms in wake of 2008 crisis.
A broker who had a client invested in the private-equity shop that was acquiring Burger King was ordered to pay $5.6 million to settle insider trading charges related to the deal.
A new plan for Barclays advisers offers a more even ratio between salaries and bonuses. The payout grid remains in place, but it's not the same. <b><i>Plus:</b> <a href="http://www.investmentnews.com/gallery/20131119/FREE/111909999/PH">How adviser salaries stack up vs. other jobs</b></a></i>
The newly appointed head of the wirehouse is reorganizing the firm's top brass.
How much do wholesalers know about advisers? And what are they telling the competition?
Cynthia Hutchins takes on newly created role to help advisers deal with aging clients.
Brokerage firm set aside $1.2B in fourth quarter for litigation, misses return on equity goal.
Brokers' pay rises on higher transaction revenue and asset-based fees.
Merrill Lynch Pierce Fenner & Smith Inc. turns 100 today. At least, it would have, if it were a standalone entity, and not a government-rescued Too Big to Fail entity, forced into a shotgun wedding with Bank of America.
Merrill Lynch will reward teams that double their revenue in the five years after 2013 with a shared payout equal to 10% of the team's incremental revenue growth.
Morgan Stanley and Merrill Lynch say the days of paying big bonuses to lure each other's brokers and keep their own in place may be ending.
In 2014, Wells Fargo & Co. will require more revenue and set new targets for its largest group of advisers but will also give them more ways to top the hurdle.
Wirehouse agrees to settle SEC charges that it failed to inform investors that a hedge fund influenced the selection of collateral backing two debt products it was selling.
