Wirehouse Firms
Learn the ins and outs of the wirehouse channel, including news, analysis and more on Bank of America-Merrill, Morgan Stanley, Wells Fargo and UBS.
UBS to Cut 3,500 Jobs; Wealth Unit Losing 350
By Janet LevauxUBS said Tuesday it planned to cut staff by 3,500 as part of its overall plan to trim about $2.5 billion from its yearly expenses by the end of 2013 to improve operating efficiency.
August 17, 2011
Raymond James Hires Two Merrill AdvisorsRaymond James said Wednesday that it had added two Merrill Lynch advisors to its Raymond James & Associates branch office in Tallahassee, Fla., with about $114 million in assets and more than $600,000 in yearly fees and commissions.
August 17, 2011
Securities America Sale: ‘Amazingly Low Price,’ Expert SaysThe news Wednesday that Ladenburg Thalmann is buying Securities America, for what some call a bargain price, resolves some issues for the IBDs 1,700 advisors, but raises a good number of questions, as well, experts say.
August 15, 2011
Baird Adds 5 Morgan Stanley Advisors in Salt Lake CityThe veteran financial advisors joining Baird manage $250million-plus in client assets.
August 12, 2011
Van Eck, Merrill Let Investors Trade HOLDRs for ETFsThe deal effects six HOLDRS and should take place in the fourth quarter. Merrill Lynch is expected to de-list the HOLDRs after the transaction, according to Van Eck.
August 11, 2011
UBS Picks Up 11 Advisors With $1.2 Billion in AssetsTen of UBS' new financial advisors come from Morgan Stanley and Wells Fargo.
August 10, 2011
Commerzbank Profits Fall 93% on Greece WoesAn indication of how much the debt woes of other countries may affect banks came on Wednesday as Commerzbank AG of Germany said its quarterly profit fell 93% once it had written down the value of its Greek holdings.
August 09, 2011
Affluent Are Diligent When Picking Advisor, Merrill Survey FindsNearly half of affluent Americans interviewed two or more advisors before choosing the one that was right for them, with 38% interviewing three or more advisors.