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Rising assets, rates stabilize wealth management at Wells Fargo
Along with net interest income, the bank’s total client assets also grew.
Wells Fargo shares jump after Q2 results exceed estimates
Bank's net interest income soars on back of Fed rate hikes.
Credit Suisse bleeds bankers, UBS saves on payouts
Rivals have poached dozens of senior Credit Suisse investment bankers in recent months, reducing the need for big redundancy packages for UBS.
Got less than $680,000 to invest? Morgan Stanley doesn’t want your business
The big wealth manager palms off 'low value' clients in Australia.
Wells Fargo loses $145 million advisor to LPL
Broomall, Pennsylvania-based David W. Rodgers moves for “breadth and depth of services.”
Merrill Lynch smacked with $12 million penalty for reporting violations
According to the SEC and Finra, for years Merrill botched the reporting threshold for potential suspicious transactions.
CFPB slams BofA with quarter-billion-dollar settlement
The bureau will keep $90 million, with the rest going to consumers, Office of the Comptroller of the Currency.
AI arrives on Wall Street
Morgan Stanley and JPMorgan seize the initiative, while smaller firms grapple with a lack of standardized data.
UBS ordered to pay investor $532,846 for overly risky portfolio
Lawyer claims award was a 'poor decision' and should have been bigger.
Wells Fargo team with $350 million moves to Raymond James
Managing partner at Keybridge Wealth Management says team will now have 'complete freedom to advise clients.'
Broker-dealer employee hit by SEC legal action
A Chinese fintech company executive, inside information about Morgan Stanley deals and six-figure illicit profits.
Morgan Stanley gets serious about a new CEO
Wealth management boss on shortlist of three to replace outgoing Aussie.
Finra sues smoothie-throwing broker for ducking cash reporting rules
James Iannazzo made cash transactions totaling close to $846,000 to avoid detection, the regulator alleges.
UBS plans to cut over half of Credit Suisse employees
Banks, traders and support staff in Credit Suisse's investment bank in London, New York and some parts of Asia are expected to bear the brunt of the cuts.
UBS could get hit with hefty fines over Credit Suisse’s dealings with Archegos
The Federal Reserve’s fine over Archegos may be as high as $300 million, while the UK’s Prudential Regulation Authority could impose a penalty of up to $128 million.
LPL nabs advisor managing $325 million at Merrill Lynch
Christopher Coffin is opening a new firm, Coffin Financial Group, in Austin, Texas.
Wells Fargo adds sports and entertainment program
The firm cited the sports and entertainment accredited wealth management advisor designation rolled out in 2022 by the College for Financial Planning as a factor that will help advisors meet such clients' needs.
With Credit Suisse deal done, UBS sets team to lead wealth management
Veteran UBS wealth management executive Tom Naratil is not part of the new team, however.
UBS completes Credit Suisse takeover, creating wealth management titan
The closing of the deal allows UBS to move forward with the integration of its former rival, a process that's likely to involve thousands of job cuts.
Former Morgan Stanley advisor pleads guilty to ripping off own mother
Doug McKelvey of South Lake, Texas, misused at least $1.5 million of funds held in brokerage accounts belonging to clients that included his mother and another elderly family member.
