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James Gorman: Market doesn’t ‘understand’ Smith Barney deal
James Gorman, the CEO of Morgan Stanley, says the market doesn't understand the potential of the firm's acquisition of Smith Barney. "They're focused on what our margins have been."
The Reformed Broker: The day I realized ‘the end was near’
The following is an excerpt from Backstage Wall Street: An Insider's Guide to Knowing Who to Trust, Who to Run From, and How to Maximize Your Investments, written by Josh Brown, vice president and financial adviser at Fushion Analytcis Investment Partners.
Merrill Lynch losing top advisers
Working under a recent mandate not to use certain alternative investments or to sign on new public-pension-fund clients,…
Janney signs more wirehouse advisers
Peter Sampson, Kenneth Wiland Sr., and R. Morgan Purvis, as well as two assistants, joined the firm's Aiken, S.C., office from Morgan Stanley Smith Barney LLC, where they managed a combined $380 million.
James Gorman told Morgan Stanley staff not to circulate Op-Ed on Goldman
Morgan Stanley Chief Executive Officer James Gorman said he told staff not to circulate a Goldman Sachs Group Inc. employee's op-ed criticizing that firm and that it wasn't fair for a newspaper to publish it.
McCann, rising at UBS, gets plum job
UBS AG appears to be making good on its pledge to sharpen its focus on wealth management and rein in its investment banking operations.
Seven years later, plaintiffs win ‘Round 7’ in Merrill bias suit
Class action discrimination suit looks set to go to trial after latest court ruling
Lawyer sees pickup in breakaway business
A lawyer who works with breakaway brokers says that his workload so far this year is double what…
Morgan Stanley exec on hate-crime charge: I’m innocent
Jennings pleads not guilty to allegedly stabbing cabbie after disupte over fare
Do-it-yourself model gaining ground on advisers
When the going gets tough, investors seek help from investment professionals. That is the conventional wisdom, but it…
2012 could be the year of the breakaway, lawyer says
Retention contracts at wirehouses winding down; more confidence in going indie
‘Wall Street’ sequel taps brokerage executive to bring ’80s back to life
The door from the trading floor to the chief executive's office opens, and before it can close, the voice of a broker working the phones is heard, using a line that could have been lifted from the Shearson Lehman playbook of the go-go 1980s.
John Thiel: Calming the Merrill Lynch herd
When John Thiel took over as head of U.S. Wealth Management for Bank of America Merrill Lynch in April, the 15,000 or so Merrill Lynch financial advisers breathed a collective sigh of relief.
Sluggish start, but recruiting moves heating up to close 2011
While some aspects of recruiting activity in the brokerage industry appears to have slowed a bit in 2011, things have started to heat up as of late -- with a number of large teams recently changing place, according to data tracked by InvestmentNews.
Suit over Merrill acquistion moves ahead — now as a class-action
Judge gives approval to certification; plaintiff's claim BofA misled shareholders about bonuses, losses
Wirehouse market share has shriveled since crisis
The wirehouses have been losing market share hand-over-fist since the financial crisis, and according to estimates from Cerulli…
Wirehouse market share thinning
Researcher says slice could dip to 35% by 2013, down from 50% in 2007; some self-pruning
Merrill Lynch raises the bar for small brokers
The latest compensation changes being made by Merrill Lynch Wealth Management to encourage brokers to go after wealthier clients could hurt broker trainees, small-market financial advisers and low-end producers.
Smith Barney may disappear the old-fashioned way
Like E.F. Hutton, PaineWebber and Dean Witter, the venerable name of Smith Barney is likely to be relegated to the ash heap of Wall Street history
