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IBDs trumped by Obama on DOL fiduciary, but vow to fight on
Financial Services Institute supports legislation to replace Labor Department's rule, and is not ruling out a lawsuit if it is finalized.
Merrill compensation plan makes it tough on small advisers
Wall Street wirehouses continue to squeeze their lowest producing financial advisers, with Bank of America Merrill Lynch telling…
Morgan Stanley to cut 1,200 jobs, take $150M charge in the fourth quarter
Cuts amounting to 25% of fixed-income trading staff plus reductions in infrastructure and support roles, result in $150M charge.
How brokers can navigate consolidation in the B-D industry
Advisers should take a deliberate approach to charting their future. Here's what to look for.
Former Morgan Stanley adviser sentenced to three years’ probation for data theft
Galen Marsh, who allegedly called the stolen data “the world's best cold-calling list,” had some of the data stolen from him and posted on the Internet.
A robo-adviser may be in the works for Morgan Stanley
Wealth Management President Gregory Fleming says a digital platform could attract younger clients to the firm.
Morgan Stanley hit with racial discrimination suit
As part of her claim, ex-broker alleges the wirehouse's recent move toward mandatory arbitration is an attempt to prohibit employees from publicly challenging unfair practices.
Next target for Galvin? Banks and cross-selling
Massachusetts regulator looking at whether financial institutions violated any laws.
Merrill Lynch is developing its own robo-adviser
Merrill Lynch has dozens of employees working on a robo-adviser prototype for Merrill Edge that's set to be unveiled next year.
Merrill Lynch winning advisers as recruiting tides shift
The wirehouse has become more aggressive and has attracted some big teams, though critics say such deals aren't a good measure.
Merrill team with $2.9 billion joins Raymond James
Five advisers in New York bail on Merrill Lynch, the second multibillion-dollar wirehouse team to join RJ in the last five months.
Wells Fargo CEO Stumpf says firm’s wealth-, investment-management business is biggest growth opportunity
Wells Fargo's wealth- and investment-management business has the potential to earn multiples of what it brings in now, making it the firm's largest growth opportunity, chief executive John Stumpf said.
Battle rages over Credit Suisse brokers after Wells Fargo recruitment deal
Wells executive says 'feeding frenzy' taking place over some high-end producers.
Robert McCann named UBS Americas’ new chairman
Exec will become chairman of UBS Americas, focusing on clients and strategic priorities. Tom Naratil, the group CFO and COO, will become president of UBS Wealth Management Americas and UBS Americas.
UBS scores $2 billion Morgan Stanley team
The third billion-dollar-plus team to leave Morgan this summer is the latest in a series of big swaps.
It’s the time of year when wirehouses tinker with adviser pay plans
Firms need to think differently as the arms race in upfront money continues unabated.
$5B Credit Suisse team latest to spurn Wells Fargo by joining Morgan Stanley
Wells finds exclusive recruiting agreement not enough to close the deal with all of the Swiss firm's brokers.
UBS hires three Credit Suisse teams with $3.2B in assets
Houston-based brokers, who specialize in ultra-high-net-worth clients, include vets from Credit Suisse.
Pennsylvania advisers with $425M AUM jump to UBS
One three-man team had $270M in assets, while a fourth individual joining separately had $155M.
$258M UBS team goes independent with Wells Fargo FiNet
Curtis Rach and Jud Crary join established practice in Irvine, Calif.
