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Goldman, Morgan Stanley move to return employees to office by easing Covid rules
The two investment banks both told staff that they will lift some of their remaining Covid-19 mitigation efforts after the Labor Day weekend.
Wells Fargo adviser managing $220 million goes indie with Steward Partners
Thomas Barr will operate his firm, Barr Wealth Management, from Steward's New York City offices.
Merrill chief cites health care, energy, tech as top sectors to consider now
'This is where investors want to be putting cash to work,' said Andy Sieg, president of Merrill Lynch Wealth Management.
$4 billion team breaks away from Wells Fargo Advisors to form RIA
A desire to act in the best interests of the firm's clients leads to launch of Moran Wealth Management in Naples, Florida, with 36 employees.
iCapital acquires UBS legacy alternative investment feeder fund platform
The fintech has purchased UBS Fund Advisor, the wirehouse’s legacy proprietary U.S. alternative investment manager and feeder fund platform that represents $7 billion in client assets.
‘Wait, you can do that?’ 3 of the biggest eye-openers for breakaways
Here are some of the things about working as an independent adviser that may surprise those who've made the jump from a wirehouse.
Morgan Stanley adds fractional share support to workplace stock plans
The wirehouse is also adding additional automation to its Shareworks and Equity Edge Online platforms.
Morgan Stanley files to offer its own ETFs
Decades after coining the term 'exchange-traded fund,' the firm plans to offer four socially conscious funds under the Calvert label.
B-D advisers had a soft landing in the first half, despite bear market
The S&P 500 was down almost 21% over the first six months of the year, but financial advisers at big firms didn't crash and burn.
Wells Fargo plans retreat from mortgage business
The bank, which once made one out of every three home loans in the U.S., plans to trim its mortgage business after years of struggles with regulatory probes.
UBS duo managing $770 million goes indie with Sanctuary
The pair have opened Marble Wealth in Montgomery, Alabama, and have been joined by Adam Rogers, previously a portfolio manager at Retirement Systems of Alabama.
Rep charged with stalking ex-girlfriend fired by Morgan Stanley
Gary T. Guglielmo of Boca Raton, Florida, was charged with two felonies and with contempt of court for violating an injunction that provided protection to his ex-girlfriend.
Finra fines Morgan Stanley $325,000 over research errors
The regulator censured the firm for publishing research reports that included inaccurate historical stock ratings.
Recruiting slowed in the first half while M&A soared
Volatile markets may be holding recruiting activity back from its breakneck pre-pandemic pace but mergers and acquisitions have more than rebounded from the 2020 low.
Wells Fargo resumes using its diverse candidate guidelines
The banking giant completes 6-week review of procedures after ‘fake interviews’ fracas.
UBS wealth group’s legal costs spike in Q2
The legal expenses linked to UBS' Yield Enhancement Strategy, which featured options, appear to be adding up.
Merrill Lynch follows through on hiring financial advisers despite tough market
Meanwhile, Bank of America, like other large financial institutions that employ advisers, is facing regulatory scrutiny over employees' communications.
Signs of stability, finally, at Wells Fargo Advisors?
Annualized revenue per financial adviser increased at Wells Fargo Advisors, according to second-quarter earnings, even though the market tanked during the first half of this year.
Naureen Hassan brings deep tech expertise to guide UBS digital shift
Hassan, who will succeed Tom Naratil as president of UBS Americas, has served as Morgan Stanley’s chief digital officer and led the launch of Schwab’s robo-adviser.
Morgan Stanley expects $200 million fine for misuse of personal devices
Meanwhile, the firm's wealth management franchise reported positives for the second quarter despite the broad stock market decline seen so far this year.
