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UBS seeks to raise fees amid mutual fund conversion
Losing revenue from 12(b)-1 fees, the firm is asking its advisers to raise minimum fees to help make up for lost revenue.
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.
$650M broker team breaks away from Morgan Stanley
Morgan Stanley team with $650 million in assets breaks away lto set up shop with help from a new firm, Tru Independence
Wells Fargo Advisors' profit soars
Wells Fargo Advisors’ profit rocketed up in the second quarter , jumping up to $544 million, a 25% increase from the year-earlier quarter. The wealth, brokerage and retirement unit, which comprises roughly 15,189 advisers divided between employee and independent networks, enjoyed strong growth in
As economy improves, veteran advisers stay put
Strong market performance keeps most clients and advisers in place. Check out our database to see who's moving where.
Fund managers warned that wirehouse outreach may not pay off
Consultancy says fund houses must pivot to independent advisers and new products to drive growth.
Morgan fined $1 million in retired-broker snafu
Wirehouse slapped with fine after Finra alleged it paid retired brokers $100M in commissions without making sure they had stopped providing advice.
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
Morgan Stanley lets advisers write what they tweet
The wirehouse is one of the first to break away from exclusively canned content on Twitter.
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
Ex-UBS broker facing probe into loan advice
U.S. authorities in Puerto Rico investigating allegations over advice to borrow money to make investments.
Clintons jump through financial planning loopholes to dodge estate taxes they support
Breakfast with Benjamin: Brokers pouncing on 401(k) biz. Plus: The Clintons dodge the estate taxes they support. The Fed wants to add exit fees to bond funds, U.S. banks on the edge of new funding rules, Congress mulls investor confidence on your dime, El-Erian sides with the IMF, and merger mania
Do Merrill Lynch's new business cards diss the brand?
A tweak to Merrill Lynch business cards earlier this year caused a stir among some of the firm's 13,700 advisers.
Finra tags Merrill Lynch with $8 million fine for mutual fund sales charges
Finra fines Merrill Lynch $8 million for failing to waive mutual fund sales charges to certain charities and retirement accounts and requires the wirehouse to pay back $89 million in restitution.
Ex-Wells broker ordered to repay firm $1.2 million
A Finra arbitration panel denied the broker's claim that Wells Fargo made false promises during recruiting.
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