Wirehouses

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Morgan Stanley is wirehouse hiring winner in 2021
NEWS PRACTICE MANAGEMENT MAR 22, 2022
Morgan Stanley is wirehouse hiring winner in 2021

It was the only wirehouse to show a net increase in financial advisers last year, according to InvestmentNews data.

LPL nabs $345 million California team from Wells Fargo
NEWS BROKER DEALERS MAR 22, 2022
LPL nabs $345 million California team from Wells Fargo

Pasadena-based Floe Financial Partners had been affiliated with LPL prior to joining Wells Fargo in 2012.

Morgan Stanley sets 90-day limit on working from home
NEWS PRACTICE MANAGEMENT MAR 21, 2022
Morgan Stanley sets 90-day limit on working from home

Firms have made plans to return employees and advisers to offices in the past but have scuttled those due to flare-ups of the pandemic.

Wells Fargo team managing $275 million moves to Baird
NEWS BROKER DEALERS MAR 21, 2022
Wells Fargo team managing $275 million moves to Baird

The three-person Arnold & Tai Group is joining the firm in Denver.

Two years later, financial services firms still searching for balance on remote work
NEWS RIAS MAR 18, 2022
Two years later, financial services firms still searching for balance on remote work

Some of the biggest brands in wealth management are trying to figure out what normal looks like, and how and whether it makes sense to bring employees back to the office.

Wells Fargo Advisors sees another senior manager leave
NEWS PRACTICE MANAGEMENT MAR 16, 2022
Wells Fargo Advisors sees another senior manager leave

John Alexander is the second senior manager with two decades at the firm to leave Wells Fargo Advisors in recent months.

Wells Fargo boosts CEO Scharf's pay 20% for 2021
NEWS PRACTICE MANAGEMENT MAR 15, 2022
Wells Fargo boosts CEO Scharf's pay 20% for 2021

Charlie Scharf earned $24.5 million last year, up from $20.3 million for 2020.

Advisers flock to RIAs in the new normal
NEWS RIAS MAR 14, 2022
Advisers flock to RIAs in the new normal

The RIA channel saw a net gain of 1,530 financial advisers in 2021, while the wirehouses had a net loss of 2,065.

Merrill looks to boost hiring of experienced advisers in 2022
NEWS PRACTICE MANAGEMENT MAR 11, 2022
Merrill looks to boost hiring of experienced advisers in 2022

The hiring push comes after Merrill and Bank of America reported a 6.3% decline in financial adviser head count last year.

Ex-Merrill adviser who threw smoothie wants probation
NEWS PRACTICE MANAGEMENT MAR 10, 2022
Ex-Merrill adviser who threw smoothie wants probation

James Iannazzo, who's facing three charges as a result of the incident in January, seeks to plead not guilty and be put on probation for up to two years.

More consolidation to come for Wells Fargo Advisors?
NEWS PRACTICE MANAGEMENT MAR 08, 2022
More consolidation to come for Wells Fargo Advisors?

No details about closing branches or offices of Wells Fargo Advisors locations were included in the filing with the Securities and Exchange Commission.

Morgan Stanley CEO says workers staying despite office push
NEWS PRACTICE MANAGEMENT MAR 08, 2022
Morgan Stanley CEO says workers staying despite office push

CEO James Gorman says the firm has seen relatively few departures in the wake of the pandemic. In contrast, he says the bank received about 500,000 job applications last year.

LPL adds $280 million team from Wells Fargo
NEWS BROKER DEALERS MAR 07, 2022
LPL adds $280 million team from Wells Fargo

Richard DeYoung and Jessica Boehm opened their new firm, Highland Wealth Partners, in The Woodlands, Texas, and affiliated with LPL's Strategic Wealth Services.

UBS has $200 million exposure to Russian assets in loans to rich
NEWS WIREHOUSES MAR 07, 2022
UBS has $200 million exposure to Russian assets in loans to rich

The Swiss bank also identified 'a small number' of wealth management clients who were sanctioned in response to Russia's invasion of Ukraine.

Janney adds team from Wells Fargo managing $300 million
NEWS BROKER DEALERS MAR 01, 2022
Janney adds team from Wells Fargo managing $300 million

The three advisers operate as RCC Wealth Management in Spartanburg, South Carolina.

UBS revamps unit for wealthiest clients
NEWS PRACTICE MANAGEMENT MAR 01, 2022
UBS revamps unit for wealthiest clients

The business group formerly known as the Global Family Office is being folded into a larger unit in an effort to link the bank's work serving billionaires more closely to its investment banking business.

Wells Fargo says DOL is probing its 401(k) plan
NEWS RETIREMENT PLANNING FEB 23, 2022
Wells Fargo says DOL is probing its 401(k) plan

The bank said regulators including the Labor Department are looking at transactions related to the plan's employee stock ownership feature.

Pursuing what matters most when you go independent
NEWS BROKER DEALERS FEB 22, 2022
Pursuing what matters most when you go independent

The trend of breaking away seems to have intensified a year after most employee-advisers were suddenly left without the resources or supervision of daily office life.

Baird adds reps managing $850 million at Morgan Stanley
NEWS BROKER DEALERS FEB 22, 2022
Baird adds reps managing $850 million at Morgan Stanley

A solo adviser joined the firm in Yakima, Washington, and a duo signed on in Durango, Colorado.

Rockefeller adds $850 million Merrill team
NEWS PRACTICE MANAGEMENT FEB 18, 2022
Rockefeller adds $850 million Merrill team

Greenwood Village, Colorado-based Brent Hablutzel and Zachary Bond-Stefo will operate as the Hablutzel Group.