Andrew Welsch

Senior Editor

Andrew Welsch is senior editor of On Wall Street.

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It was the first major executive shake-up at the wirehouse since President Greg Fleming quit.
The fund was purportedly a safe investment based on a computer algorithm. In fact, clients dumped millions of dollars into a fund, which later lost 80% of its value in a single month, authorities say.
The nation's biggest brokerage firms took a beating last quarter.
The brokerage firm, which has been hit with millions in regulatory fines in recent years, lost another 91 FAs.
The deal with RBC, which has over 1,900 advisors, helps validate BlackRock’s $152 million acquisition of robo platform FutureAdvisor last year.
The wirehouse, which said it added 151 advisors, reported that it had paid out $284 million to clients who have lodged complaints related to the sale of Puerto Rico bonds.
Advisors should start getting up to speed now if they want to keep their heads above water when the rule begins to be implemented later this year, experts say.
The proposal landed at the White House's Office of Budget and Management for one last review.
Depending on what is permissible under the Labor Department's forthcoming rule, "there will have to be adjustments on the part of the advisor and on the part of the firm," CEO Jim Cracchiolo says.
UBS executive Jason Chandler explains how a determined pitch landed him his first management position and a key mentor.
Naureen Hassan, who oversaw Charles Schwab's Intelligent Portfolios Service, will lead Morgan Stanley's strategy for digital tools and platforms.
J.P. Morgan Securities picked up an industry veteran, the latest U.S.-based advisor to depart from Credit Suisse.
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