Displaying 2261 results
Grumbling herd complains about cross-selling
Whether Sallie Krawcheck's (pictured) Merrill Lynch brokers and Bank of America bankers can live happily ever after — and produce greater profits as a result of their marriage — is being put to the test at the nation's largest financial institution
BofA Merrill’s Krawcheck: No great exodus of reps to indies
Global wealth boss said company lost 35 reps to independent B-Ds last year, but picked up 25
BofA sues $5.9B breakaway team over ‘trade secrets’
Bank of America Corp. won a court order temporarily blocking four former employees from using and sharing the bank's client records at their new employer, New York-based Dynasty Financial Partners.
Rivals watch, wait as MSSB starts tweeting
Although its wirehouse rivals are keeping their electronic drawbridges closed to social media, Morgan Stanley Smith Barney LLC last week became the first major Wall Street firm to allow its financial advisers to use popular networking websites
Flurry of changes at MSSB as Fleming rejiggers
Greg Fleming was named boss of Morgan Stanley's wealth management unit earlier this year. Since then, he's been busy rejiggering the management team at Smith Barney. The latest: the rehiring of a onetime CFO at the brokerage.
Retail-broker business enjoys rosy first quarter
First-quarter earnings at Wall Street firms with large financial adviser forces demonstrate that after two years of turmoil, the biggest players in the investment industry have righted themselves and are poised to build their businesses again
Back to the future: Wirehouse firms resurrect training
After a decade of spending money to acquire successful representatives rather than develop their own, wirehouses are buffing…
Thiel a ‘safe pick’ to head Merrill unit
The appointment last week of John Thiel as head of U.S. wealth management for Bank of America Merrill Lynch ends one chapter — and opens another — in the ever-changing management saga at the nation's second-largest wirehouse
UBS officially taps Bob McCann to run wealth management
After months of speculation, UBS today named Robert McCann as its new head of wealth management in the Americas
Is the bull back? Merrill brokerage biz soars as BofA earnings sag
Bank of America's Global Wealth and Investment Management division — and specifically the Merrill Lynch brokerage operation — continue to benefit from improving markets.
MSSB’s McAuliffe jumps to Merrill Lynch
Will head up BofA unit's institutional consulting group; wirehouse veteran
Big bank execs paint rosy picture, but only bloomin’ idiots buy it: Simon Johnson
In the next crisis, the roles of Fannie Mae and Freddy Mac will be played by financial services giants
Branch managers, time to stop living in the past: Sarch
It seems like it’s every business day that I get a call from an unhappy wirehouse Branch Manager:…
<b>From the Headhunter:</b> The offer advisers can’t refuse
Remember this scene from The Godfather? Michael and Kate (played by Al Pacino and Diane Keaton) are…
Why doesn’t Wells Fargo expand its ‘Profit Formula’ — and why haven’t other firms copied it?
Are you familiar with the Wells Fargo Profit Formula program? It was designed and originally launched by Wheat First, the Richmond, VA based regional broker dealer bought out by First Union in 1997. Wachovia and First Union merged in 2001, and Wells saved Wachovia from collapse in 2009.
More wirehouse blues?
Once, big firms battled other big firms for the best advisory talent. Now, smaller firms are nipping at their heels as well.
MSSB productivity way up – but more job cuts coming
The largest brokerage has seen its assets swell, while reps' productivity has soared. Those reps that are not producing? MSSB still plans to do some pruning.
Brokerages next big threat? Portfolios-to-go
Expedia tripped up travel agents. Mapquest routed map makers. Netflix killed the video stores. Now comes portfolios-to-go. The question: are these prepackaged investment models phenomenon or fad?
Ex-Merrill adviser in running to head BofA’s brokerage: Sources
Sallie Krawcheck's short list said to include John Thiel; joined the brokerage as an adviser in 1989
MSSB castoffs ‘attractive’ to other firms
The 200 to 300 financial advisers and trainees given their walking papers at Morgan Stanley Smith Barney LLC this quarter probably won't have much trouble finding new jobs, according to industry recruiters.
