Wirehouses

CEO Sergio Ermotti pledged that cost-cutting efforts are to continue.

The decision is effective immediately and was made within hours of the Department of Labor issuing new regulatory guidance on the fiduciary rule's implications.

Unlike other scandals in recent years involving foreign exchange rates and the London Whale, Wells' employees falsifying accounts and charging unfair fees is easy to grasp.

The new CEO said the aggressive sales goals – which were ditched earlier this month – served the interests of neither clients nor branch employees.

A new pilot program will test whether clients will be drawn to a voice-controlled technology the retailer's customers know as Alexa.

Will RBC's Christopher Vollmer, the current No. 1 on the regional ranking, return to the newest list? Or will a new young professional take the top spot? Advisers now have more time to join this elite group.

Prosecutors served a warrant seeking names of employees who opened unauthorized accounts, as well as the bank’s fee structure and a calculation of losses suffered by affected customers.

"Optimizing choice for our clients … is critical to how we operate as a firm," CEO James Gorman said during an earnings call where the wirehouse reported net revenue was a record $3.9 billion last quarter.

A $2.2 billion Morgan Stanley team's move to independence shows how breakaways use shell companies to take advantage of the legal pact, and why more than 1,500 firms have signed on.

The new recruits are the 10th team to join HighTower this year.

The regional brokerage firm picked up recruits from Wedbush Securities and Merrill Lynch.

Headcount rises for the 11th consecutive quarter for the wirehouse, which is prepping for the Department of Labor's fiduciary rule.

Net income for the wealth management unit rose to $677 million from $606 million for the year-ago period.

The bank has already taken action in instances of staff misbehavior, according to Chief Financial Officer Marianne Lake.

The No. 3 U.S. bank by assets has made a change at the top after a snowballing scandal involving the creation of fraudulent accounts.

The wirehouse's latest hire will help ultrawealthy clients with estate planning and other services.

The regional firm’s latest recruit joined its employee channel after 17 years at the wirehouse.

After the fiduciary rule was announced, it wasn’t clear how brokerage firms would adapt. Here's why the wirehouse is a standout on its approach to the new regulation, and why one competitor isn't.

The Wells Fargo scandal has given the sale of loan and bank products a bad name, but experts say that, done right, it is a crucial revenue driver.

The firm's latest recruit has more than three decades of industry experience and previously worked at Wells Fargo Advisors.