Financial institutions

Banks weren't involved in the trading frenzy, but some observers say the regulatory response should address risks to all financial institutions.

The team caters to wealthy clients and athletes, and specializes in private placement life insurance.

The margin requirements apply to Merrill Lynch wealth management clients and individual traders using the Merrill Edge platform.

“As of today, Wells Fargo Advisors is not allowing solicitation of those two securities,” a spokesperson for the bank said Wednesday.

Acquisitions of wealth management, insurance, fintech and other firms are expected to pick up as banks seek new sources of fee income and look to improve digital capabilities.

The firm pivoted away from an aggressive hiring strategy in 2016 and has seen a substantial drop in costs associated with picking up experienced talent.

Collectively, the brokers generated $167 million in annual production and oversaw $37 billion in combined client assets.

The results underscore the standout performance of the industry's largest firms in equities, a business where Europe’s banks have struggled to keep up in recent years.

These elite producers in some cases operate far from Wall Street, even as they work for well-known wealth managers such as UBS, Merrill Lynch and Ameriprise.

Eaton Vance and E-Trade deals expected to boost the firm’s performance.

The ex-Morgan Stanley and Merrill Lynch advisors join the wealth manager, which has been aggressively recruiting in recent months.

Client acquisition was down compared to 2019, but still higher than in years past.

The new global wealth division, which is being formed by combining the firm’s private bank with a unit that serves substantially less wealthy households, will be led by Citi veteran Jim O’Donnell.

In the first wave of cases under the regulator’s self-reporting initiative, it garnered more than $2.7 million in payments of restitution plus interest.

The new additions join a set of big hires at the wirehouse.

Like its largest rivals, the wirehouse kept grids at par after a tumultuous 2020.

They're among a handful of companies willing to hold clients' digital assets for safekeeping. Many of their peers balk at the reputational and financial risks.

It’s the second-biggest hire of the year for the wirehouse.

After a volatile year, advisors get a reprieve when it comes to payout changes.

Regulatory shifts, M&A, new technology — there’s a lot on the horizon for the industry.