Wirehouses

Morgan Stanley Chief Executive Officer James Gorman said his firm’s wealth-management unit can earn a pretax margin of more than 23 percent by 2015 as interest rates and stock markets climb.

Morgan Stanley has a plan to boost return on equity in fixed-income trading above its cost of equity after four of the five units failed to meet that metric last year, Chief Executive Officer James Gorman said.

UBS gave its force of about 7,000 U.S.-based advisors new compensation incentives to use financial plans with clients this year. The plan increases the pay their financial advisors receive when creating those plans, and has resulted in an uptick in their adoption so far this year

Morgan Stanley has turned to Wells Fargo and UBS for new advisor hires for the second time this month.

A $1 million producer has jumped from Morgan Stanley to Raymond James in Columbus, Ga.

The financial services industry has one of the hardest glass ceilings for women to break through according to a recent survey from Edward Jones.

Stifel nabbed two UBS advisors and opened a new office in Tampa, Fla.

UBS Wealth Management Americas has picked up a financial advisor from regional wealth management firm Hilliard Lyons with $475 million in assets under management.

Are you a wirehouse advisor with at least $93 million in assets under management? Then you are the kind of advisor asset management distributors most want to reach.

Wall Street has contributed less than 2% of New York City’s job growth since the recession ended as cost-cutting efforts have led banks to replace fewer positions than other businesses.

Morgan Stanley Wealth Management has tapped rival wirehouses UBS and Wells Fargo for four advisor hiress with $475 million in client assets under management and $4.5 million in production.

Janney has expanded its operations in Washington, D.C. with a two-man team overseeing $142 million in assets.

John Hallacy, a 35-year industry veteran, is retiring as head of municipals research at Bank of America Merrill Lynch, he confirmed late Monday.

Part strategist and part cheerleader, Stephen Viets is a three-time Top 10 branch manager. Viets says that the job also requires a diplomat's tact. "It's all about handling insecurities and misunderstanding," he says.

The network was launched in September to help breakaway brokers transition from the traditional wirehouse model to independence.

Kirk Mandlin has a simple goal for this year and any year. "To be the best leader, husband, and father I can possibly be," he says. With the power of positive thinking, Mandlin expects to use those strengths to expand his business.

Rob Malenfant worked his way up the ranks at Smith Barney, spending several years in Connecticut, New York, and Los Angeles before returning to Boston as a branch manager. The variety of experiences and people he worked with inspires him now at his Boston Harbor complex, he says.

This year, the leading wirehouse and regional wealth management firms took the steps necessary to ensure they reap rewards as markets hit new highs.

The best bank managers and best wirehouse managers have a lot in common. While each has the distinct flavor of their respective channels, they are very similar in spirit.

Catherine Lapadula is a hard-charging woman who says she is doing what she loves and sitting where she always wanted to sit—in the manager's seat at UBS's international wealth management operation in New York City.