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Wells Fargo faces major test of broker liability for selling F-Squared
A 68-year-old widower claims wirehouse did insufficient due diligence on the troubled money manager.
Merrill Lynch survey: Big investors are holding the most cash since Lehman Brothers’ collapse
Results of the latest Bank of America Merrill Lynch fund managers survey.
Banks are cutting broker-dealer units from their ‘living wills’
Breakfast with Benjamin: The nation's biggest banks, like JPMorgan Chase, are lumping their broker-dealer units in with other 'non-essential' operations.
Vanguard’s new ambassador to advisers: We’ve earned your trust
Thomas M. Rampulla's return to the U.S. comes after the firm recast itself as a patron of an industry that once saw it as a threat.
J.P. Morgan loses advisers with a combined $7 billion in client assets
Wells Fargo Advisors picks up a Florida adviser with nearly $2 billion and UBS snags a four-person team in New York.
Wirehouses still attracting adviser talent
Despite increasing options in the independent space, majority of adviser moves are still among the big four.
Wirehouses challenged as retention deals fade
Study estimates that between 12% and 20% of long-term packages signed after 2008 mergers will expire annually over the next four years.
Finra arbitration panel awards $500,000 to former Morgan Stanley rep
Broker and wirehouse embroiled in a three-year dispute over a promissory note.
Morgan Stanley reaps benefit of comp changes in Q1 earnings
A decline in compensation expenses in the first quarter helped the wirehouse hit its 22% profit margin target three quarters ahead of schedule. (Don't miss: The 6 highest-paid B-D executives)
Top independent adviser manages $3.5 billion in new ranking
More than 20,000 independent RIAs in the U.S. increased assets 82% to $2.3 trillion from 2007 to 2013 while assets at largest retail brokerages rose 8.2% to $6.2 trillion.
NFL star Dwight Freeney sues BofA, adviser for $20 million
Dwight Freeney accuses the firm and adviser Michael Bock of leading him into a massive scam. (Plus: 7 athletes who say they were duped by advisers)
RIAs join brokers in promoting securities-backed lending
The practice is growing quickly even beyond wirehouses, but some are concerned about the risks and conflicts of interest.
Pershing CEO: RIA growth outpacing B-Ds
Ron DeCicco expects the RIA channel to continue growing while regulatory pressures and higher expenses weigh down broker-dealers.
Investors see few benefits of lower fees in adviser-sold investments
Managed accounts sold by advisers deflect trend toward lower-fee money management as brokers work to maintain profits: Cerulli.
Morgan Stanley sues former broker, now at Ameriprise, over recruiting hijinks
A former Morgan Stanley broker altered his clients' phone numbers in the firm's system before leaving for Ameriprise, according to a lawsuit
FTC investigation finds glitch to blame in Morgan Stanley data breach
Morgan Stanley won't face Federal Trade Commission action as a result of a data breach that compromised information of some 350,000 clients.
Merrill seeks to be leader on fiduciary
John Thiel's outspoken support of a best-interest standard and the Labor Department's effort puts pressure on peers. (See also: DOL proposes controversial fiduciary rule)
Merrill fined $2.5 million for supervision violations in Massachusetts
Training session did not include discussion of fiduciary requirements when commission-based assets are moved to fee-based accounts
JPMorgan sues $2B team who left for Morgan Stanley
JPMorgan is seeking a restraining order against six brokers for allegedly contacting clients and defaming the company.
Wirehouse employees rate their firms on sites like Glassdoor.com
Morgan Stanley chief James Gorman gets 87% approval rating on Glassdoor.com, tops among wirehouse CEOs. The firm ranked third on Vault.com among the 50 'best' banking companies in terms of quality of life and prestige.
