Watch breaking news videos and read news updates about Wirehouses on investmentnews.com
Musk's next move; brokers fail to report trouble
The Tesla chief wants to get into military satellite launching. Plus, brokers failing to report trouble to Finra, stocks (and Costco earnings) drop, the Citi/Oceanografia plot thinkens, who you should follow on Twitter, and more.
Former Merrill Lynch broker accused of 18-year Ponzi scheme
A former Merrill Lynch broker already serving a 33-month sentence for securities fraud is back in the hot seat after being indicted for an 18-year Ponzi scheme.
Ex-Wells Fargo adviser wins nearly $1 million in promissory note quarrel
Wells Fargo sought $76,152 from a former broker, but in the end was ordered to pay the adviser more than 10 times that amount .
Morgan Stanley wins dismissal of 'pay to play' suit
A federal judge has thrown out a lawsuit against Morgan Stanley alleging that the firm violated the Employee Retirement Income Security Act of 1974 by unlawfully directing business to ING as part of a “pay to play” scheme. Judge Analisa Torres of the U.S. District Court of the Southern District of
Morgan Stanley shuffles top leadership with addition of new role
Firm shifts shifting some top brass to create a new role focused on strategy and client management.
UBS acquires $2.6 million Beverly Hills team from Merrill Lynch
Two advisers who generated some $2.6 million in revenue at Bank of America Merrill Lynch have jumped to UBS Wealth Management Americas. The Grueninger Group of Mark Grueninger and Ben Sauer joined UBS’ Beverly Hills, Calif., office on Rodeo Drive last week, the firm reported. Mr. Grueninger, who
Merrill Lynch nabs $400M team from Morgan Stanley
Bank of America Merrill Lynch has snapped up a former Morgan Stanley duo who oversaw some $400 million in assets. The two advisers, Michael Bromberg and Daniel Gerschel, have joined Merrill Lynch's New York office. They previously produced about $1 million in revenue while at Morgan Stanley,
Ex-Merrill adviser sentenced to 10 years in prison
A former Bank of America Merrill Lynch financial adviser was sentenced to 10 years in prison for running a Ponzi scheme that defrauded at least six investors of $2.7 million. Mason Braswell has the story.
Finra seeks to beef up use of BrokerCheck
Revives proposal that would require brokerages to link to regulator's database, including disciplinary background info.
Merrill aims for 30% profit margins, but at what cost?
Bank of America Merrill Lynch should be able to top 30% pretax profit margins as retirement demographics and other tail winds help boost the business. But how it will team its brokerage and banking operations is an open question.
Krawcheck: Women on Wall Street have 'gone backwards'
Sallie Krawcheck, the former Bank of America Corp. and Citigroup Inc. executive, said women lost ground on Wall Street after the financial crisis because executives and boards hired people who looked like them.
Merrill Lynch taps new head to expand training
On the hunt for the next generation of financial advisers, Bank of America Merrill Lynch has promoted Racquel Oden to head its practice management and development training program. Taking over at a crucial point in the program’s history, Ms. Oden, who was a managing director in charge of business
Investors of all asset levels attracted to self-directed trading platforms
With investors of all asset levels attracted to self-directed trading platforms, advisers need to keep up with all the do-it-yourself online offerings because the DIY channel is mainstream.
Mary Mack launches opening salvo as head of Wells Fargo Advisors
The newly appointed head of the wirehouse is reorganizing the firm's top brass.
After turnaround, UBS caps off banner year
UBS Wealth Management Americas’ focus on ultrawealthy clients continued to pay off as strong fourth-quarter results capped off a banner year for the firm. Profit climbed as the firm brought in a record $254 million in pretax earnings in the fourth quarter, representing a 64% jump from a year
Explore your opportunities and be informed for your next move.
February 27, 2014