Units of Bank of America Corp.'s Merrill Lynch & Co., UBS AG and Bear Stearns Cos. were sued by Charles Schwab Corp. over claims they lied or omitted information on mortgage-backed securities
Goldman Sachs & Co. has agreed to pay $550 million to settle civil fraud charges that accused the Wall Street giant of misleading buyers of mortgage-related investments.
When it comes to controlling client assets, LPL Investment Holdings Inc.'s recent IPO registration offers clear proof that the remaining four wirehouse broker-dealers still dwarf the more diverse galaxy of independent broker-dealers.
UBS Financial Services Inc. said it hired Thomas G. McLoughlin, former chief executive officer of National Public Finance Guarantee Corp., as head of municipal bond research for its Wealth Management Americas unit.
Bank of America Corp. is re-branding its online-discount-brokerage platform under the Merrill Lynch imprint in an attempt to attract young investors, and reclaim assets of Merrill clients who keep self-directed brokerage accounts at rivals such as Charles Schwab & Co. Inc. and TD Ameritrade Holding Corp.
Although retention bonuses and deferred-payment recruiting packages have locked many top-producing brokers in place at wirehouses, a substantial number are still looking to break free.
Rules by themselves are never an answer.
Joseph Fortuna, Timothy Prete and Salvatore Tartaglione have left UBS for MSSB in Hartford, Conn.
James Flynn, Rance Hillier and Merritt Zahner will work out of the Madison, Conn. offices of Morgan Stanley Smith Barney
Here we are, in the midst of a trend to “breakaway Advisors,” where more and more Advisors are thinking of places to work outside of the big 4 firms.
Big trouble for Tiny Gallon? The Oklahoma athletic department is said to be looking into allegations that the Sooners' star basketball player received money from a financial adviser
New York City job losses in the Great Recession were far fewer than economists' dire predictions, and Wall Street profits last year soared to record levels on the back of near-zero interest rates and federal bailouts.
As competition intensifies to capture the 401(k) and other retirement plan business of small and midsize companies, wirehouses increasingly are allowing representatives who specialize in the niche to act as fiduciaries.
In one of my recent OpINion Online columns, I compared wirehouse management to communist regimes before the fall of the Berlin Wall
Barclays Wealth has hired Don Milich and Clifford Wang as investment representatives, based in Atlanta, as part of its effort to continue growing its wealth management operations in the U.S.
The Financial Industry Regulatory Authority Inc. announced today that it has hit Citigroup Global Markets Inc. with a monetary sanction for supervisory violations relating to its handling of trust funds belonging to cemeteries in two states.
Despite all the hoopla about breakaway brokers, most of the wirehouse representatives going to independent broker-dealers are relatively low producers who fit the B-Ds' packaged-product and fee-based model.
Big brokerage firms appear to have taken a break from their costly musical-chairs game of broker recruitment, according to executives and headhunters.
Peter Muller, who founded and leads Morgan Stanley's quantitative investment unit, bested 104 players last week to win the annual Wall Street Poker Night.
