Wirehouses

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LPL signs $200M duo from Wells Fargo
NEWS BROKER DEALERS APR 18, 2024
LPL signs $200M duo from Wells Fargo

Based in Texas, the two are starting their own practice, with one advisor’s father joining the team.

Morgan Stanley downplays AML scrutiny for wealth clients
NEWS WIREHOUSES APR 17, 2024
Morgan Stanley downplays AML scrutiny for wealth clients

CEO says it's nothing new to be talking to regulators.

UBS reportedly faces $20B capital hit under proposed Swiss reforms
NEWS WIREHOUSES APR 16, 2024
UBS reportedly faces $20B capital hit under proposed Swiss reforms

The Swiss Finance Minister wants systematically important lenders to have full capital backing against their foreign units.

Advisor attrition dropping at Merrill Lynch
NEWS BROKER DEALERS APR 16, 2024
Advisor attrition dropping at Merrill Lynch

Although departures of financial advisors may have slowed at certain large firms, that doesn't mean the problem's been squelched.

Morgan Stanley trading, wealth management units beat expectations in Q1
NEWS WIREHOUSES APR 16, 2024
Morgan Stanley trading, wealth management units beat expectations in Q1

Net new assets for the wealth unit totaled $95 billion, higher than the two previous quarters combined.

Fed could hike rates rather than cut them: UBS strategists
NEWS WIREHOUSES APR 15, 2024
Fed could hike rates rather than cut them: UBS strategists

Given strong US growth and sticky inflation, the Fed's next move could be to tighten again, pushing its benchmark rate as high as 6.5 percent.

Raymond James adds advisor from Wells Fargo
NEWS BROKER DEALERS APR 15, 2024
Raymond James adds advisor from Wells Fargo

South Florida-based advisor had been overseeing $105 million in client assets at Wells.

Dynasty Financial helps $550M Merrill team go independent
NEWS WIREHOUSES APR 15, 2024
Dynasty Financial helps $550M Merrill team go independent

Six advisors break away from the wirehouse to launch a firm in Alabama.

Stability, finally, at Wells Fargo Advisors?
NEWS BROKER DEALERS APR 12, 2024
Stability, finally, at Wells Fargo Advisors?

'We’re back to more normal, or maybe slightly below normal, attrition levels across the [financial advisor] business, which is good,' says CEO Charles Scharf.

UBS boosts its New York presence
NEWS BROKER DEALERS APR 12, 2024
UBS boosts its New York presence

The firm’s private wealth unit is welcoming a team of former Goldman Sachs advisors in the Big Apple.

Morgan Stanley’s wealth unit caught in AML crossfire
NEWS WIREHOUSES APR 11, 2024
Morgan Stanley’s wealth unit caught in AML crossfire

The SEC and other federal regulators are reportedly probing the banking giant over its anti-money-laundering and client vetting practices.

A broad asset allocation with a commitment to client care
NEWS PRACTICE MANAGEMENT APR 11, 2024
A broad asset allocation with a commitment to client care

Advisor believes that market has an upward bias and that this is the best situation he’s seen in almost five decades

A risky career for show biz clients
NEWS PRACTICE MANAGEMENT APR 10, 2024
A risky career for show biz clients

‘Save first and then establish ... lifestyle second,’ advisor tells her clients in the entertainment industry

UBS could face higher capital rules under Swiss reforms
NEWS WIREHOUSES APR 10, 2024
UBS could face higher capital rules under Swiss reforms

The bank's shares fell on the news that the government wants systemically important Swiss banks to hold significantly more capital against foreign units.

UBS CEO's compensation elicits concern from Swiss finance minister
NEWS WIREHOUSES APR 10, 2024
UBS CEO's compensation elicits concern from Swiss finance minister

Sergio Ermotti, who has been leading UBS' integration of Credit Suisse, was paid $16 million for his first nine months on the job.

Wells Fargo Advisors' midyear pay tweaks
NEWS BROKER DEALERS APR 08, 2024
Wells Fargo Advisors' midyear pay tweaks

Broker-dealers are increasingly chasing registered investment advisor assets.

‘It’s about advice beyond investing’
NEWS WIREHOUSES APR 08, 2024
‘It’s about advice beyond investing’

UBS market executive Julie Fox explains how she provides her advisors with everything they need to build their practice and serve their wealthy clients

Sanctuary Wealth hires former Wells Fargo, BNY Mellon Pershing veterans
NEWS WIREHOUSES APR 05, 2024
Sanctuary Wealth hires former Wells Fargo, BNY Mellon Pershing veterans

Experienced leaders will help $30B AUM network expand.

Sanctuary welcomes UHNW duo from Merrill
NEWS RIAS APR 02, 2024
Sanctuary welcomes UHNW duo from Merrill

The firm adds a $700 million breakaway practice in North Carolina.

UBS will buy back up to $2B of its shares this year
NEWS WIREHOUSES APR 02, 2024
UBS will buy back up to $2B of its shares this year

New program to start this week in a sign of confidence.