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BofA shares drop after stress-test error halts dividend increase
Company will resubmit proposal after finding botched accounting on structured notes issued by Merrill Lynch.
Wells Fargo training program violates labor laws: Suit
A former adviser trainee of Wells Fargo Advisors says firm went after her for training costs after she left the firm; she has sued, claiming the firm's practice of recouping training costs is illegal and discriminatory.
BofA to pay $160M to settle racial bias case
Suit on behalf of 1,200 black brokers claimed discrimination in business opportunities.
BofA Merrill agrees to $39M gender discrimination settlement
Lawsuit alleged a "deep rooted and pervasive gender discrimination" existed at Bank of America and Merrill Lynch
Wall Street ties to Putin threatened as sanctions ratchet higher
Wall Street leaders including Lloyd Blankfein and James Gorman, who have courted business in Vladimir Putin's Russia, are facing a dilemma as tensions over Ukraine escalate.
Quantity does not equal quality: Expanding ‘disclosure events’ on BrokerCheck a bad idea
Brokerage industry is only one in which professionals as deemed guilty until proven innocent.
Merrill reels in $3 billion team
Two advisers reunite after worked together at Alex. Brown before splitting.
Merrill aims for 30% profit margins, but at what cost?
Bank of America Merrill Lynch should be able to top 30% pretax profit margins as retirement demographics and other tail winds help boost the business. But how it will team its brokerage and banking operations is an open question.
Account opening is No. 1 tech concern: Survey
Beacon finds 'client onboarding' has replaced social-media archiving as brokers' biggest technology challenge.
Payouts on the rise for wealth management executives
Executives across the industry, from wirehouses to independent and regional firms, are enjoying fatter paychecks and bigger bonuses as advisers become a more important part of firms' balance sheets. (Don't miss some rather outlandish top executive benefits.)
UBS Puerto Rico closed-end muni investors losing billions
UBS Puerto Rico closed-end muni bond fund investors are losing billions; new research pegs losses at $1.66 billion over the first nine months of 2013.
Wells Fargo Advisors’ head Mary Mack fills out her cabinet
Bob Vorlop and Joe Nadreau have been tapped to fill new executive roles focused on expanding the firm's technology platform and products
Recoupment of trainee fees impairs industry’s growth
Brokerage firms that pursue reimbursement of training costs from employees who leave are out of step with today's workforce
Krawcheck says advisory business still coming up short in reaching out to women
The trailblazer says the advisory business is still coming up short in reaching out to women, both as advisers and clients, and explains why.
Brokers face challenges in originating mortgages
More financial advisers are becoming licensed mortgage loan originators as full-service brokerage firms look to be one-stop shops for wealthy investors, but some regulatory gray areas are causing concern.
Finra freezes new arbitration cases in Puerto Rico
Finra freezes new arbitration cases in Puerto Rico as a flood of claims sends the regulator scrambling to find more arbitrators. Bruce Kelly has the story.
Merrill Lynch taps new head to expand training
Racquel Oden promoted to help ramp up newly restructured PMD program.
Wells Fargo gets aggressive to help advisers protect assets of elderly clients
Take Five interview with Ronald Long, head of Wells Fargo's new Elder Client Initiatives
Morgan Stanley to combine institutional, brokerage muni desks
Move is part of CEO Gorman's effort to partner brokerage, investment bank, drive return on equity.
Morgan Stanley wins dismissal of ‘pay to play’ suit
Ruling hinged on the firm's disclosure of revenue-sharing agreements.
