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.
Morgan Stanley Advisors Reverse Asset Flows as Firm Sees Q3 Loss
By Joyce Hanson, Janet LevauxAfter experiencing client withdrawals of nearly $8 billion in assets during the Q2, Morgan Stanley's U.S.-based advisors produced net inflows of $2.4 billion, while the company overall lost $91 million in Q3.
October 01, 2010
Wells Shifts Tax-Withholding on CommissionsWells Fargo says it has moved to resolve an issue affecting as many as 11,000 financial advisors who joined Wells Fargo Advisors after the bank...
September 24, 2010
Barclays Wealth Taps Merrill's General Counsel, Other ExecsDonald Gershuny joins from BofA-Merrill Lynch, while Peter Reynolds comes to the firm from RBS Americas and Caroline Simko from Alliance Bernstein.
September 21, 2010
Barclays Wealth Hires Banking Chief from UBSEarlier this year, Barclays Wealth said it planned to invest more than $1 billion globally--on top of an already planned $500 investment--to "transform itself from a top 10 wealth manager to a top tier wealth manager."
September 15, 2010
Why Today's Retention Deals Won't WorkThough advisor movement has slowed, some brokers continue to stray. Here's why.
September 01, 2010
Wells Fargo Moves to Fix Tax-Withholding IssueThe bank began letting legacy Wachovia advisors set their own tax-withholding level on commissions in August, after automatically withholding 25% for the past seven months.
August 31, 2010
Wirehouse Assets: Still on Top, But Losing Market ShareThe four largest broker-dealers have about 60%, or $1.1 trillion, of the industry's managed assets, down from 64% last year, according to a recent study.
August 30, 2010
Wirehouse Watch: Why Merrill's Results Top Morgan Stanley'sProfits and margins at BofA-Merrill are well ahead of those at Morgan Stanley Smith Barney, despite MSSB's larger advisor force.