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  1. Articles

    Attrition and breakaways have shrunk head counts at wirehouses

    Attrition and breakaways have shrunk head counts at wirehouses, threatening the big four firms as they look to keep pace. (Plus: Our full Spotlight on Wirehouses special report)

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    John Thiel: Learn from the past or lose out in the future

    On the wall just inside the door of John Thiel's corner office in downtown Manhattan's World Financial Center hangs a framed handwritten note of encouragement from Daniel P. Tully, Merrill Lynch & Co.'s chairman until 1997. It is written on a printout of one of Mr. Thiel's first major memos to his

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    Finra arbitration panel awards $500,000 to former Morgan Stanley rep

    Broker and wirehouse embroiled in a three-year dispute over a promissory note.

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    Vanguard's new ambassador to advisers: We've earned your trust

    Thomas M. Rampulla's return to the U.S. comes after the firm recast itself as a patron of an industry that once saw it as a threat.

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    UBS' head of wealth management Bob Mulholland to retire

    Bob Mulholland, who oversaw the firm's 7,000 advisers and helped engineer a turnaround in the wirehouse's brokerage unit, will be replaced by UBS vet Brian Hull.

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    UBS advisers' comp falls amid flat revenue

    Declines in transaction revenue and slower growth in fee revenue hampered performance.

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    Widow of Home Shopping founder sues Morgan Stanley for $400M

    Lynnda Speer, widow of a Home Shopping Network co-founder, alleges excessive trading and negligent supervision by Morgan Stanley in an arbitration claim.

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    Wirehouse employees rate their firms on sites like Glassdoor.com

    Morgan Stanley chief James Gorman gets 87% approval rating on Glassdoor.com, tops among wirehouse CEOs. The firm ranked third on Vault.com among the 50 'best' banking companies in terms of quality of life and prestige.

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    Wirehouse advisers pile into euro-stock ETFs

    Currency-hedging ETF strategies are a no-brainer: Merrill Lynch portfolio manager

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    Morgan Stanley reaps benefit of comp changes in Q1 earnings

    A decline in compensation expenses in the first quarter helped the wirehouse hit its 22% profit margin target three quarters ahead of schedule. (Don't miss: The 6 highest-paid B-D executives)

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    Merrill seeks to be leader on fiduciary

    John Thiel's outspoken support of a best-interest standard and the Labor Department's effort puts pressure on peers. (See also: DOL proposes controversial fiduciary rule)

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    Merrill Lynch's John Thiel urges colleagues to work with DOL on fiduciary rule

    At least one major industry player is taking a more welcoming stance toward working with the Labor Department as it seeks to create a rule that would hold brokers to a fiduciary standard when dealing with retirement plans.

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    Wirehouses still attracting adviser talent

    Despite increasing options in the independent space, majority of adviser moves are still among the big four.

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    Brokerage executives enjoying steadily increasing payouts

    As markets thrive and wealth management becomes a focus at major firms, brokerage execs like Morgan Stanley's Greg Fleming enjoy bigger paydays.

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    Fired $1.3B Merrill broker speaks out

    A 33-year veteran,Thomas Buck won't fight the wirehouse's allegations and is looking to move on after his sudden, unexpected termination