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Registered Rep.
May 31, 2013
Megan Leonhardt |
Sizing Up the Street In the latest earnings cycle, here's how the wirehouses stacked up.   |
Registered Rep.
March 9, 2011
Kristen French |
Morgan Stanley Cutting 200-300 FAs And Trainees The firm's wealth management division, Morgan Stanley Smith Barney, should end the quarter with about 17,800 advisors, still the largest brokerage force in the U.S. by headcount. |
Registered Rep.
October 5, 2009
Kristen French |
Citi Bank Brokerage Converts To All Fees Citigroup announced that it would convert its small North American bank brokerage business completely to a fee-on-assets-based fiduciary advice system, and would stop collecting commissions on stock and fund sales. |
Registered Rep.
July 26, 2011
John Aidan Byrne |
Online Brokerages Still Grabbing Market Share From Wirehouses Online brokerages continue to take market share from the wirehouses, according to a new report. |
On Wall Street
February 1, 2010
Frances A. McMorris |
When Firms Collide: Is Culture Clash Inevitable? Merged companies have been integrated and new executives have taken up their posts, but everyone is still trying to adjust. |
On Wall Street
October 1, 2011 |
Who's News Bank of America Merrill Lynch hired Wells Fargo advisor Adam Gurien... Morgan Stanley Smith Barney has hired a team of Wells Fargo Advisors...Raymond James & Associates hires three advisors in Hingham, Mass... more... |
On Wall Street
February 1, 2012 |
Who's News New hires for Merrill Lynch Wealth Management, Morgan Stanley Smith Barney, UBS Wealth Management, and Raymond James. |
On Wall Street
December 1, 2011 |
Who's News Morgan Stanley Smith Barney hired three advisors from UBS Financial Services... Bank of America Merrill Lynch hired Morgan Stanley Smith Barney advisors Raymond Stacy and Christopher Pieper... Wells Fargo Advisors hired advisor Zoran Vaz... |
Registered Rep.
January 12, 2009
Halah Touryalai |
Citi Grabs a Lifeline, Morgan Stages a Coup Despite a $45 billion capital injection from the government in 2008, Citi is in dire enough need of capital that it is planning to spin off its retail brokerage operation, Smith Barney, according to reports, in a joint venture with cross-town rival Morgan Stanley |
Registered Rep.
July 21, 2011
Kristen French |
Morgan Stanley Plans More Cost-cutting in Retail Brokerage; Integration on Target, Net Asset Flows Up Morgan Stanley financial advisors should expect more cost-cutting in the global wealth management division in coming quarters. |
Registered Rep.
February 7, 2012
John Aidan Byrne |
UBS' U.S. Brokerage Boosts Profits, Boasts Most Productive Advisors Despite global market conditions that lowered asset-based fees and transaction-based income, UBS Wealth Management Americas ended 2011 on firmer footing, earning $573 million for the year on revenues of $5.96 billion. |
Registered Rep.
October 1, 2010
John Aidan Byrne |
Who Will be Number One Among the Wirehouses? A good old-fashioned Wall Street fight for retail assets -- and a fierce tussle over which firm can call itself the Number One retail wealth management firm on Wall Street -- is brewing. |
Registered Rep.
October 22, 2009
Christina Mucciolo |
MSSB Plans to Double Size of U.S. Division For Ultra Wealthy Morgan Stanley Private Wealth Management will exclusively serve clients with a minimum of $20 million in assets. |
Registered Rep.
April 13, 2012
Kristen French |
Wells Fargo Wealth Management Business Posts Stagnant First Quarter Wells Fargo's wealth management business reported no growth in assets and a slight decline in advisors for the first quarter versus the same time period a year ago. |
Registered Rep.
April 15, 2011
Jerry Gleeson |
Trading, Fees Lift Schwab Profits Higher Continued growth in client trading and fees helped drive profits at Charles Schwab Corp. to higher-than-expected levels for the first quarter. |
Registered Rep.
July 16, 2010
Jerry Gleeson |
A Mixed Second Quarter for Merrill, Schwab Second-quarter earnings results posted today by Merrill Lynch and Charles Schwab Corp. offered a mixed picture to financial advisors hoping for a stronger recovery. |
On Wall Street
October 1, 2010
Lee Conrad |
Merrill and Morgan Slug It Out With integration behind it, just how does the new Merrill fare against its closest competitor, Morgan Stanley Smith Barney? |
Registered Rep.
April 20, 2011
Kristen French |
Wells Fargo Reports Record Cross-Selling, Asset Inflows Wells Fargo's wealth management division reported stronger earnings, revenues and FA headcount in the first quarter, while cross-selling hit a record and client asset inflows were at their highest since Wells acquired Wachovia in late 2008. |
Registered Rep.
August 29, 2010
Jerry Gleeson |
Merrill, MSSB Invest in New Technology Wirehouse firms continue to upgrade their advisor workstation technology following the recent consolidation among firms. |
On Wall Street
March 1, 2012 |
Who's News UBS Wealth Management Americas has hired six financial advisors... Morgan Stanley Smith Barney hired Merrill Lynch advisors Philip Ressa and Justin Cho... Barclays Wealth has hired eight financial advisors... |
On Wall Street
November 1, 2012 |
Who's News: Michael Maghini Moves to Bank of America Hirings this month include Michael Maghini moving to Bank of America Merrill Lynch from Morgan Stanley; Mark Rabbe to RBC from UBS; Al Weaver and John Worcester to Ameriprise from Morgan Stanley. |
Registered Rep.
December 7, 2015
Gregory J. Fleming |
View From the Top: The Durability of Wealth Management The two powerful forces that are changing every aspect of our lives, technology and demographics, will also change the wealth management business profoundly over the next quarter century. |
Registered Rep.
March 1, 2003
Glenn S. Curtis |
War, What Is It Good For? War, or rather the prelude to war, has been, historically, bad for the stock market. One group of stocks harder hit than most during these saber-rattling times is the brokerage sector. |
Registered Rep.
January 14, 2011
Kristen French |
Some MSSB Advisors Upset by Johnston's Departure Morgan Stanley CEO James Gorman announced Thursday that Greg Fleming, head of the firm's asset management business, will replace Charles Johnston as head of wealth management. |
Registered Rep.
May 1, 2005 |
13 Percent Percentage of advisors who say they have switched to a wealth management model. |
Registered Rep.
September 26, 2013
Megan Leonhardt |
Bigger Is Better There's a perception that there is less innovation in the wirehouses than the independent channel. |
On Wall Street
June 1, 2010
Arnella Forde |
Stifel Nicolaus: Dominating The Mid-Market Realm Described as better managed than many of its peers, the firm seems poised for opportunistic growth. |
On Wall Street
September 1, 2010 |
Who's News Stephen Lawrence joined Wells Fargo Advisors... Morgan Stanley Smith Barney recruited Laurence Braunstein... Paul Gilman and Marshall Hagen joined UBS... RBC wealth has recruited Jason Braunstein... more... |
The Motley Fool
September 18, 2009
Morgan Housel |
Citigroup Hates Its Profitable Assets With Smith Barney divested, shareholders may wonder where profits will come from. |
Registered Rep.
April 21, 2011
Kristen French |
Morgan Stanley Wealth Management Assets Up, Headcount and Margins Down Morgan's other two divisions -- institutional securities and asset management -- recorded declines in income and revenues. |
BusinessWeek
September 2, 2010
Moore & Mildenberg |
In the Battle of the Big Brokers, Merrill Is Winning Merrill Lynch earns higher profits with fewer advisers, thanks to a smooth integration with Bank of America and more cross-selling. |
On Wall Street
November 1, 2008
Frances A. McMorris |
Wall Street's Trillion Dollar Nightmare From bankruptcies to bailouts, the brokerage business changed overnight, but this uncertainty and pain may give way to opportunity. The question is: how soon? |
Registered Rep.
June 1, 2009
David Geracioti |
Can You Say, "Morgan Stanley Smith Barney?" The Joint Venture Launches Today The deal merging Citi's brokerage (Smith Barney) with Morgan Stanley's Global Wealth Management Group is closed -- ahead of schedule. |
On Wall Street
June 1, 2011 |
The Leaders Speak The most influential leaders in wealth management today expound on evolution, revolution, moving the debate past wirehouse versus independent, and more. |
Financial Advisor
November 2009 |
Frontline News Advisor News: Poll on advisor pay... Citi Embracing Fee-Only Model... RIAs Set Record For Repurchasing Their Firms... FINRA Expands Arbitration Pilot Program... SEC Expects To Examine 9% Of RIAs Annually... more... |
Registered Rep.
October 17, 2011
Kristen French |
Wells Fargo Wealth/Brokerage Client Assets Decline; Asset-Based Revenue Up Wells Fargo's wealth brokerage and retirement businesses reported third quarter income of $291 million, up 14 percent versus the year ago quarter, while revenue for the division was down 1 percent from the year ago quarter. |
Registered Rep.
April 21, 2010
Jerry Gleeson |
Morgan Stanley Profits Rise, Advisor Count Flat Morgan Stanley on Wednesday reported higher-than-expected revenues and profits in the first quarter, lifted by its acquisition last spring of Smith Barney and by higher fixed income. |
Registered Rep.
April 1, 2010
Halah Touryalai |
Citi's Covert Makeover It's a major shift in business for an entire unit to leap in the fee-only RIA world. |
Registered Rep.
April 20, 2006
Kristen French |
New Morgan Hire to Advance Dean Witter Integration James Gorman announced in a memo to employees that Donald Herrema will join the company on May 1 as the head of Private Wealth Management Americas, the U.S. and Latin America division of the old Morgan Stanley institutional group. |
Registered Rep.
August 1, 2005
John Churchill |
Rich Brands, Poor Brands Wealthy clients are very familiar with wirehouse brand names -- a sign that the industry's heavy marketing is paying off. But when it comes to rating the actual services that firms deliver, wealthy clients favor boutique trust firms and private banks. |
Investment Advisor
November 2009
James J. Green |
B/D Briefing: Citi Brokers Switch to Fees Citi Personal Wealth Management announces that the brokers who operate in Citibank branches will change their compensation models immediately from commissions to fees. |
Bank Technology News
March 2011
John Adams |
Self Service With An Edge When it comes to attracting wealth management clients, the new focus is entirely on control - specifically giving control to customers via electronic channels. |
Registered Rep.
July 19, 2011
Diana Britton |
Wells Fargo's Wealth Management Earnings, Headcount Dip but Cross Selling Improves Wells Fargo's wealth, brokerage and retirement business posted slightly lower second-quarter earnings. |
On Wall Street
January 1, 2009
Kearney et al. |
The Power Players It's shaping up to be a challenging year for the wirehouse world. From Washington to Wall Street, see who we think will have the most influence on the industry as it battles through the down market. |
Financial Planning
September 1, 2006
John J. Bowen |
Behind the Buzz Many advisors are "wealth managers" in name only. Here's how to implement the business model in your practice. |
U.S. Banker
March 2002
John Hackett |
Wealth Management Leaders With profit-generating assets shrinking because of the decline in stock prices, some of the biggest players in the wealth management field are hurting. But all assert the future is rosy, at least for them. Many have doubts, however, about the outlook for other players... |
Registered Rep.
December 1, 2011
Kristen French |
Broker Report Card 2011: It's Getting Better All the Time Registered Rep.'s 21st annual Broker Report Cards showed advisor satisfaction ratings creeping higher this year across the board -- on everything from compensation and benefits, compliance support and sales support to products. |
Registered Rep.
October 1, 2005
John Kador |
Schwab Does It Again Charles Schwab, the pioneering discount broker who was slammed by the tech wreck and suffered through protracted management struggles in the past two years, is beating the wirehouses at their own game. |
Registered Rep.
July 1, 2005
Kristen French |
Apres Purcell--Le Spinoff? Now that Morgan Stanley's CEO has given up, the future of the old Dean Witter organization is in question. Morgan Stanley remains under pressure to improve profitability and its stock price. |
Registered Rep.
December 21, 2012
Megan Leonhardt |
Looking Back, 2012 A Mixed Bag For Wirehouses Assets mostly were up, but advisors are on the move. |
