The firm is in talks with the Consumer Financial Protection Bureau regarding cases involving automobile lending, consumer-deposit accounts and mortgage lending.
The service allows the firm's high-net-worth clients to use a variety of third-party asset management firms.
The bank added that it had a 'strong quarter' in financial adviser recruitment in the Americas but gave no details in its earnings information.
While CEO Ralph Hamers pursues his vision of harnessing automated tools and boosting the firm's standing in the US, wealth business head Iqbal Khan and his disciples are concerned about diluting UBS' private banking brand.
Plano, Texas-based Valorous Advisors specializes in retirement plan consulting.
Both revenue and adviser head count increased, and Andy Sieg, president of Merrill Lynch Wealth Management, attributed the strong results partly to the firm's advisers.
Net interest income rose 24% in the third quarter as the bank reaps the benefits of the Fed's interest rate hikes.
The firm is assessing its head count, CEO James Gorman suggested on an earnings conference call.
The wealth management group attracted $65 billion in net new asset during the quarter, pushing the total this year to $260 billion.
The wirehouse employed a total of 12,011 financial advisers at the end of September, a loss of 173 advisers in Q3.
Alexander Guiliano is launching Resonate Wealth in Ridgewood, New Jersey, along with two staffers.
It's the second time in as many weeks that Finra has penalized a firm for such trading problems.
The firm is positioning Merrill Advisor Match as a modern solution for investors who are looking for financial advice.
Three plan participants are suing the bank, alleging that it overpaid for company stock in its employees’ retirement plan.
Three make the switch in New York City and two will be based in Paramus, New Jersey.
In court documents, the SEC described at least a few senior managers at each firm who engaged in rampant texting with colleagues and clients.
The penalties levied against firms including Citigroup, Bank of America and Goldman Sachs constitute the largest-ever penalties against US banks for record-keeping lapses.
Richard M. Crabtree, who was based in Annapolis, Maryland, began defrauding a client in 2016, according to the agency.
It's been win some, lose some for UBS as it defends its complex options strategy, but lately investors seem to be prevailing more.
It's back to an 'organic plan' for the bank's wealth management business in the United States, says Iqbal Khan, co-president of UBS Global Wealth Management.
