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Top 10 financial advice firms ranked by investor satisfaction in 2023
Investors’ happiness with their advisors took a hit last year as the stock market dived, according to J.D. Power’s annual survey.
Andy Sieg leaves Merrill to rejoin Citigroup
He is being replaced at Merrill Lynch by Lindsay Hans and Eric Schimpf, who have been appointed presidents and co-heads of Merrill Wealth Management.
Morgan Stanley ordered to pay $782,272 for mishandling estate
Finra arbitrators ruled on the estate's claim that Morgan Stanley ignored rules laid out by a court for how funds in the estate were to be handled.
Steward Partners finds balance by adding Pershing custody alongside Raymond James
The addition of breakaway Ensign Wealth Partners, a $500 million RIA, pushes Steward's total custodial assets on the Pershing platform to more than $1 billion.
UBS brings back Ermotti as CEO to lead Credit Suisse takeover, replace Hamers
Ermotti, who previously served as UBS' CEO for nine years, is familiar with UBS and the Swiss financial landscape, qualities seen as critical for the integration.
First Republic sees more financial advisors walk
The San Francisco-based Marchetti Porter Wealth Partners jumped ship over the weekend.
UBS advisor overseeing $315 million in assets joins Raymond James
New York-based Steven M. Rozencwaig will join the firm’s Manhattan office.
How stocks of wealth management firms are holding up this year
Focus Financial is going private. There’s a banking crisis. What has the impact been on these companies?
UBS, Credit Suisse among banks facing US probe into Russia sanctions
As the Justice Department investigates whether financial professionals helped Russian oligarchs evade sanctions, subpoenas also went to employees of some major US banks.
Citi sues advisor who jumped to Morgan Stanley over $636 million book
Citi alleges Steven Taub is violating a 12-month nonsolicitation agreement and has already convinced clients to move more than $100 million.
Crack appears in First Republic wealth management business
Vishal Bakshi, an advisor who reportedly has $1.5 billion in client assets, left to join Morgan Stanley late last week, after signing on at First Republic less than a year ago.
Sanctuary adds Morgan Stanley team overseeing $170 million
Columbus, Ohio-based Matthew Terwilliger and his team will operate as Iterhic Wealth Advisors.
First Republic hiring spree focused on these four firms
Almost half the financial advisors hired by First Republic since 2010 came from Wells Fargo Advisors, J.P. Morgan Securities, UBS Financial Services and Morgan Stanley.
UBS credit outlook cut to negative by S&P, Moody’s following Credit Suisse deal
In addition, Fitch places UBS on rating watch negative due to uncertain implications of the acquisition on the combined credit profile of the two banks.
UBS swallows Credit Suisse, still eyes growth in US
The UBS deal to acquire its banking rival, along with the continued drop in the share price of First Republic Bank, could mean a further shake-up in the US wealth management market.
First Republic stock falls in early trading after S&P cuts rating for second time
The rating agency lowered the bank's long-term issuer credit rating to B+ from BB+, having already downgraded the lender to junk last Wednesday.
UBS to buy Credit Suisse in deal to end crisis
The Swiss bank is reportedly paying more than $2 billion for its rival in an all-share deal priced at a fraction of Credit Suisse's close on Friday.
First Republic gets $30 billion in fresh deposits in bank rescue
The plan, which the banks devised with US regulators, is meant to stave off a widening panic in the wake of regulators' seizure of Silicon Valley Bank and Signature Bank over the past week.
JPMorgan, Morgan Stanley in talks for First Republic, WSJ says
Several large banks are discussing a potential deal that could include a sizable capital infusion to shore up troubled First Republic.
Morgan Stanley partners with OpenAI on internal chatbot for its advisors
Answers to advisors' questions will be generated exclusively using Morgan Stanley's library of content and data.
