Wirehouses

UBS Wealth Management Americas reported that profits surged 17% year-over-year

A former BofA Merrill Lynch Team who felt wronged after being terminated has signed on with full-service brokerage firm Stifel Financial.

On Wall Street extends its deadline for its annual ranking of the top 40 advisors under age 40.

Independent firm Snowden Lane Partners recruited another wirehouse advisor team, this time from Merrill Lynch.

A Wells Fargo advisor team that managed $200 million in assets has left to join Steward Partners, an independent firm founded a year ago by former wirehouse managers.

Latest Morgan Stanley advisor additions around the country bring a combined $565M in AUM and over $3M in revenue.

Merrill Lynch grows its Chicago presence by hiring UBS team with $500M in AUM and nearly $5M in revenue.

Expanding its advisor ranks, small broker-dealer Jefferies announced the hire of a rio of Barclays veterans that bring a focus on REITs and MLPs.

Looking at the range of services received by clients in all advisory channels, traditional wirehouses take the lead in catering to high-end client needs, according to research from Cerulli Associates.

Agency secures $4 billion in penalties; expert says: “make sure that you have a robust and dynamic compliance program.”

Morgan Stanley Wealth Management saw profits jump 17% for the 3rd quarter, despite a 1% drop in the firm's advisor workforce.

Stifel Financial brings in a veteran Morgan Stanley advisor for a newly created client office in West Chester, Pa.

The SEC plans an enforcement action against a former Wells Fargo compliance officer for altering report.

Bank of America said wealth management profits were up 13% year-over-year and reported an increase in its advisor ranks. The company reported that profits for its Global Wealth & Investment Management division, or GWIM, which includes Merrill Lynch and U.S. Trust, increased to $813 million for the third quarter from $720 million a year ago. …

Assets under management among SEC-registered advisors increased 12.6% in 2014 to $61.7 trillion in April, according to an industry report.

Wealth management advisory work has evolved from the retail brokerage days of the 1980s, when advisors were considered salespeople.

Wells Fargo said that third quarter net income for its wealth management division rose 22% year-over-year.

A Morgan Stanley advisor duo with $213 million in AUM has left the wirehouse to join RBC Wealth Management.

A former UBS broker was ordered to pay back the wirehouse $1.75 million of his recruiting bonus – the third such million-dollar judgment against him this year.

An advisor pair that jumped to Merrill Lynch after just four months with Barclays must pay back over $6.6M in hiring bonuses, FINRA rules.