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UBS wealth management Americas nabs assets, looks to digital
Like its competitors, the Swiss bank had a strong quarter when it came to reeling in net new client assets.
NewEdge hires UBS team managing $3 billion in South Florida
Days after hiring Robert McCann, former UBS chairman for the Americas region, NewEdge announces more UBS veterans are joining the firm.
UBS gets dose of digital disruption
CEO Ralph Hamers is on a mission to pull UBS into the digital age, and last week's announcement of the bank's acquisition of robo-adviser Wealthfront was his first move.
UBS buys Wealthfront for $1.4 billion in major push into US market
The largest Swiss bank said the acquisition will accelerate its growth in America, broadening the firm’s reach to more mass-affluent investors.
UBS buying Wealthfront for $1.4 billion in cash deal
The acquisition will add more than $27 billion in assets under management and over 470,000 clients in the U.S., the bank said.
Merrill fires Connecticut adviser after uproar at smoothie shop
The adviser, James Iannazzo, went on a tirade over the weekend after his son had an allergic reaction to a drink.
Top-earning CEOs at broker-dealers
Chief executives at leading brokerage and advisory firms are earning more money than ever. Here are the 2021 compensation numbers for some of the most notable executives.
BofA revamps wealth management product teams
The moves in product teams increase the responsibilities of Andy Sieg, the president of Merrill Lynch, and Katy Knox, president of BofA's private bank.
Wells Fargo gets 2015 regulatory order lifted
The Office of the Comptroller of the Currency terminated an order related to add-on products, in another sign of progress for CEO Charlie Scharf's efforts to turn the bank around.
Dynasty Financial IPO raises questions about future of platform
While private equity investors have an unquenchable thirst for wealth management, the public markets haven't always been kind to wealth management companies.
Morgan Stanley sees ‘freakish’ asset growth in 2021, Gorman says
Last year was an unusually productive one for Morgan Stanley and its close to 16,000 financial advisers, who brought in record net new assets for the year.
It’s raining records at Merrill Lynch
Merrill Lynch, an industry bellwether, reports a host of new highs in 2021, ranging from revenue to assets and net new ultra-high-net-worth clients.
Florida team managing $325 million joins Raymond James
The three advisers, who will operate as The HarborView Group in St. Petersburg, previously were affiliated with Morgan Stanley.
Drop in advisers at Wells Fargo continues but slows
While the company hasn't staunched the bleeding of its financial advisers completely, the three months ending in December saw the rate of decline slow a bit, while the average revenue per adviser continued to increase.
Robert McCann back in the financial advice industry
The former UBS chief was named co-chair of recently rebranded NewEdge Capital Group.
The advice industry went to Fat City in 2021
Despite last year’s riot at the Capitol and a variety of lethal Covid-19 variants, the broad stock market roared, which is always good news for financial advisers and their firms.
Morgan Stanley agrees to pay $60 million over data breach
Morgan Stanley allegedly learned of the breach when it was contacted by a man who said he had purchased used IT equipment from an internet vendor that came with access to sensitive customer data.
Morgan Stanley rep managing $130 million moves to UBS
Brett Moore will work in the firm’s Beverly Hills, California, office.
Wells Fargo moves to simplify pay plan for advisers
'I really think that our financial advisers are going to be happy about this,' one Wells Fargo executive said.
Raymond James adds Texas advisers managing $567 million
A duo from LPL and two Wells Fargo reps are affiliating with the firm’s independent unit.
