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Morgan Stanley dodges $15 million raiding claim
Charles Scwab's $15 million arbitration claim against Morgan Stanley for hiring brokers from its San Francisco office was rejected.
Morgan Stanley managers depart amid reorg
Some high-level executives depart as firm restructures its managed-account unit, and streamlines products and services staff.
What grabbed InvestmentNews readers this week
A big arbitration award, a story about recruiting bonuses and how Vanguard grabbed Pimco's bond crown were among the most read stories this week on InvestmentNews.com. Plus: Lessons from Robin Williams' estate and another investment team loss at LPL.
Wells Fargo binges on Morgan Stanley recruits
Since June, the firm has snatched nearly $1.4 billion in assets from rival wirehouse, according to moves tracked by InvestmentNews.
Ex-Morgan Stanley broker loses nearly $1M but gains 100K in Finra arb case
Finra arbitration panel finds adviser liable for remaining balance on promissory note, but orders wirehouse to pay for closing his branch.
Wirehouse recruiting loans measure in the billions
Financial advisers conditioned to expect average loans of six figures as competition keeps firms ponying up for top talent.
Wirehouses' cost cuts target support staff
UBS' plans to cut 75 sales assistants comes as firms including Morgan Stanley target new profit margin goals for next year.
HighTower picks up Merrill advisers with $800 million
HighTower has added the 44th team to its partnership as it continues to boost recruiting following the announcement it received a $100 million line of credit in July. After last month, the firm said Monday it had picked up three former Merrill Lynch advisers who previously managed some $800 million
Brokers' own accounts tip off firms to a move
Brokers who make large drawdowns from their investment accounts may be showing their hand before breaking away.
Advisers with combined $300M AUM join Wells Fargo
Two advisers and a senior client associate have made the move from Morgan Stanley to Wells Fargo Advisors in Denver. The team, called The Denver Group of Wells Fargo Advisors, includes Chris O'Neil, managing director of investments, Joe Jaensen, senior vice president of investments, and Terri Lo
Wells Fargo Advisors names mobile and online chief
American Express and J.P. Morgan Asset Management vet McConnell tapped to lead new position at WFA Digital.
For fund managers, high-yield pullback comes with liquidity risks
Lower broker-dealer bond inventories and growing use of high-yield funds could test markets, increase price swings.
Broker comp puts pressure on wirehouse profit margins
Even as firms trim non-compensation expenses, profit margins stay below stated goals.
Ex-UBS broker accused of defrauding elderly in Ponzi scheme
SEC has charged Donna Tucker with stealing $730,000 from older clients, including a blind couple.
Puerto Rico debt depresses UBS Wealth earnings
Despite record revenue at UBS Wealth Management Americas, profits fell in the second quarter as the firm reported that it had to set aside $44M for litigation costs, mostly related to the firm's investments in Puerto Rico.