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Tom Naratil to leave UBS
Iqbal Khan, who had served as co-president of Global Wealth Management with Naratil, was promoted to president. Naureen Hassan will succeed Naratil as president of UBS Americas.
Wirehouses ready for their ‘Empire Strikes Back’ moment on adviser fintech
Morgan Stanley revealed its fully armed and operational adviser fintech ecosystem at a recent media event in New York City.
UBS considers promoting Khan to sole wealth management head
The move would potentially position Iqbal Khan as the eventual successor to CEO Ralph Hamers.
Escalating economic drama dampens appetite for adviser moves
Financial adviser moves are up 3.8% year over year through the first five months of the year but down when compared to their most recent high in 2019.
Reslicing the profit pie at Wells Fargo
If the pie keeps growing, wirehouse brokers probably won’t mind getting a relatively smaller slice.
Risk of dissatisfied advisers taking flight is rising: J.D. Power
Ongoing discontent, worsened by the pandemic and tech shortfalls, has resulted in 15% of wirehouse advisers and 7% of independent advisers being 'at risk' of exiting their firms in the next two years.
Morgan Stanley seeks to bar broker accused of shooting co-worker
The firm asked for a restraining order against 90-year-old Leonard Bernstein in Oklahoma County District Court Tuesday that would bar him from its offices and from any contact with former colleagues.
90-year-old Morgan Stanley broker arrested after shooting business partner
Leonard Bernstein is accused of shooting his 61-year-old colleague multiple times in an Oklahoma City branch office.
UBS to pay punitive damages in $1.3 million arbitration loss over options strategy
The award contains two unusual features: $500,000 in punitive damages to the clients and a two-to-one split decision among the three-person panel.
SEC orders UBS to pay $25 million over fraud involving YES options strategy
The agency said UBS reps didn't understand the complex product or whether buying it was in a client's best interests.
UBS nabs $500 million Merrill team
Mikail Qazi and Timothy Martin are joining UBS Private Wealth Management in Washington, D.C.
Investors win $975,000 in Finra arbitration involving UBS YES product
Their attorney, Jeffrey Erez, said they were misled by UBS brokers who didn't understand the risky product.
Bank of America deepens ties to iCapital alts platform with strategic investment
The bank joins a long list of financial backers funding the $130 billion tech-savvy platform for investing in alternatives.
Billion-dollar Merrill trio bolts for Cetera
The three advisers are setting up shop as Harvest Wealth in the Maryland suburbs of Washington.
Another former head of Wells Fargo Advisors leaves the bank
David Kowach is the second senior Wells Fargo executive with deep ties to wealth management to retire in the past two months.
Wells team managing $630 million goes indie with Raymond James
Four advisers in Columbia, South Carolina, form Vision Wealth Advisors.
Billion-dollar Merrill team goes indie with Sanctuary
The four advisers are setting up shop as SkyPath Private Wealth in Summit, New Jersey.
Wells Fargo to focus on indie B-D business. For real
Wells Fargo's IBD, FiNet, hasn't been 'a growth priority' for the wirehouse. Now it is. How has the strategy changed?
Wells Fargo sells off on report of probe of fake job interviews
The Manhattan U.S. attorney's office is reportedly investigating allegations the firm conducted sham job interviews of minority candidates to satisfy in-house diversity guidelines.
UBS loses another YES arbitration case, this one costing more than $1 million
While the firm has prevailed in some cases involving its options trading strategy. its losses are adding up, too.
