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Wealth management a growing force in bank fortunes
Third-quarter earnings reports show that once again, wirehouses are driving revenue at the giant banks that own them.
UBS settles with Puerto Rico regulators for $5.2M over bond improprieties
UBS Financial Services Inc. of Puerto Rico, a unit of UBS Wealth Management Americas, has agreed to pay $5.2 million to settle allegations by Puerto Rico regulators that the firm's brokers may have improperly placed clients into its proprietary closed-end bond funds.
Wirehouses challenged as retention deals fade
Study estimates that between 12% and 20% of long-term packages signed after 2008 mergers will expire annually over the next four years.
Wells Fargo hires UBS team in Texas
Wells Fargo Advisors has hired Robert “Bob” Higley and Robert “Bob” Gardner III from UBS Financial.They managed a combined $300 million in assets and had $2.5 million in production.The two joined the Memorial City, Texas, branch July 1. They bring a total of 61 years of industry experience to Wells
Indie reps happier at work than employee advisers: J.D. Power
Independent advisers continue to be happier at work than their colleagues who are employees of broker-dealers but the gap in job satisfaction among the two groups is narrowing. See how your firm ranks
Brokers face challenges in originating mortgages
More financial advisers are becoming licensed mortgage loan originators as full-service brokerage firms look to be one-stop shops for wealthy investors, but some regulatory gray areas are causing concern.
UBS sees recruitment pay off in the fourth quarter
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.
Judge dismisses SEC complaint involving UBS Puerto Rico bonds
In a win for UBS Financial Services Inc., an SEC administrative judge dismissed allegations that two leading executives in Puerto Rico committed fraud in 2008 and 2009.
Galvin eyeing Puerto Rican muni debt obligations
Massachusetts securities regulators have begun to make inquiries about the sale of Puerto Rican municipal debt obligations to investors in the state, with the office of Secretary of the Commonwealth William Galvin last Wednesday saying that it had sent inquiry letters to Fidelity's FMR Co. Inc.;
UBS Puerto Rico funds plummet
The value of proprietary closed-end-bond funds heavily invested in Puerto Rican municipal debt and created by a unit of UBS AG is plummeting, leaving the Puerto Rican arm of the firm and its 132 financial advisers there embroiled in a potentially lengthy fight with local investors who purchased the
UBS biggest wealth firm, study finds
UBS AG, which is shrinking its investment banking business, overtook Bank of America Corp. to top a ranking of the world's biggest wealth managers compiled by Scorpio Partnership.
Cohan: Enough already, UBS deserves the death penalty
Alleged Libor-rigging is the latest in a long series of scandals tied to the Swiss bank
UBS adviser suspected of shooting out windows with a slingshot and marbles
A UBS investment adviser was arrested twice this month on suspicion of vandalism — smashing windows of businesses and offices in Beverly Hills and Encino, Calif.
How will Libor scandal affect wirehouse advisers?
The unfolding investigations into manipulation of the LIBOR interest rate could be the next ugly story that wirehouse advisers will have to explain to clients.
Wealthy Americans line up to give up passports in Swiss capital
Renouncements are up sevenfold in Bern since UBS whistle-blower triggered crackdown four years ago