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LPL adds $210 million team from Wells Fargo
The father-son duo of Jeffrey and Justin Katz are joining LPL’s employee channel and will operate as Katz Wealth Advisors of LPL Financial.
Merrill to pay $1.4 million over telemarketing violations
The company, which self-reported the issue, signed separate consent orders with Finra and the New Hampshire Bureau of Securities Regulation.
Morgan Stanley in discussions with prosecutors, regulators to resolve block-trading probes
The firm disclosed the investigations last year, and said it faces potential civil liability from allegations that it caused stock prices to drop before completing a block trade.
Ermotti taps UBS veteran Naratil to lead integration of Credit Suisse
Naratil will become the firm's chief financial officer and lead the division that will oversee the Credit Suisse merger, a Swiss newspaper reports.
Wirehouses feeling the chill of autumn in the air
The giant firms face an approaching winter as they become less prominent in the overall advisory business.
Sanctuary Wealth nabs $1 billion Merrill team
Chicago-based Burnham Harbor Private Wealth has four advisors.
Wells Fargo investors overrule board on annual harassment report
A majority of the bank's investors voted in favor of a shareholder proposal requesting an annual public report on efforts to prevent harassment and discrimination against employees.
UBS cites cautious wealth clients as it reports disappointing earnings
While the firm added $28 billion in new funds from clients during the quarter, revenue at the wealth business fell short of estimates.
Steward Partners adds team from UBS overseeing $200 million
James Forsyth and Steven Miller, who operate as the Valencia Group, will be Steward Partners' first team in the Los Angeles metropolitan area.
Merrill COO Kirstin Hill to leave firm, following Sieg’s departure
Some of Hill's responsibilities will be handed off to Jeff Busconi, who holds the newly created position of head of wealth management strategy, products and services.
LPL recruits $450 million Raymond James team
James Sheehan is based in Charleston, South Carolina, while Shawn Tighe works in northern New Jersey.
Rockefeller hauls in $2.3 billion First Republic group
New York City-based Liberty Wealth Partners is just the latest team to leave First Republic in the wake of the turmoil that struck regional and West Coast banks.
Morgan Stanley boosts wealth management revenue in first quarter
But the wealth management unit was clearly a bright spot for the firm in the first quarter, with Morgan Stanley's overall earnings falling 19% from the year-earlier period.
Merrill Wealth Management weathers stormy first quarter
Bank of America's wealth management business, which includes Merrill, saw a 3% year-over-year decline in revenue in Q1, as lower equity and fixed-income valuations hit asset management fees.
Morgan Stanley wealth boss emerges as one to watch in CEO race
Andy Saperstein oversees the $4.5 billion wealth management unit that's catapulted Morgan Stanley's market value above that of archrival Goldman.
Wells Fargo no longer reports how many financial advisors it employs
The company's new policy on head count, made clear in its first-quarter earnings report, aligns with decisions made by Morgan Stanley and Bank of America.
UBS in talks with former executive Naratil about possible return
Naratil left the bank just six months ago after holding a number of senior positions in almost four decades at UBS, including president of UBS Americas, co-head of wealth management and CFO.
Credit Suisse deal will make UBS a wealth management ‘powerhouse’: JPMorgan
The price UBS paid for its Swiss rival is 'attractive' even after factoring in potential losses on Credit Suisse assets, litigation costs and restructuring expenses, according to a report by JPMorgan analysts.
$10.8 billion First Republic team bolts to Morgan Stanley
The New York City-based Zipper Duarte team generates $12.5 million in annual revenue.
Merrill ordered to pay $9.7 million for failing to disclose foreign exchange fees
The SEC enforcement action is another example of the agency's increased scrutiny of wrap-fee programs.
