Wirehouses

Wirehouses are set to lose 7% market share in the next three years, according to a report released Monday by Cerulli Associates. "These survey findings indicate a shifting advisor base between channels, with a lot of activity moving away from the wirehouse firms," Bing Waldert, director at Cerulli, said in a press release.

To attract clients, brokerage firms should be offering a mix of in-person as well as online, self-directed investing and retirement planning options, according to a recent report by Aite group.

Do you know a branch manager who deserves recognition for a job well done? On Wall Street and sponsor New York Life/MainStay Investments are now accepting nominations for the annual branch manager awards honoring the best leaders in the wirehouse and regional wealth management firms.

Bank of America said Friday it would pay $2.43 billion to settle a shareholder lawsuit over its purchase of Merrill Lynch, in an expensive effort to resolve one of many problems it faces from the financial crisis.

Two Morgan Stanley financial advisors moved to Wells Fargo's independent brokerage arm in Maryland this week, taking advantage of a career path that one recruiter describes as the best of both the independent and wirehouse channels.

As part of a study into conflicts of interest at broker-dealers, regulators concluded that confidential information should be better protected.

Bank of America Corp. agreed to a $2.43 billion settlement with investors who suffered losses during its acquisition of Merrill Lynch & Co., resolving one of the biggest legal battles to stem from the takeover.

Goldman Sachs will pay $12 million to settle charges it made undisclosed contributions to a former Massachusetts state treasurer in violation of "pay-to-play" rules.

Kweku Adoboli's co-workers knew he was making fictitious trades, the former UBS AG banker told an attorney who interviewed him on the night of his arrest in September 2011.

Firms come and firms go, but there has to be a bit of nostalgia for Smith Barney.

It's the end of an era. Morgan Stanley announced its U.S. wealth management business, Morgan Stanley Smith Barney, has changed its name to Morgan Stanley Wealth Management.

Bank of America Merrill Lynch has named Morgan Stanley Smith Barney executive Michael Maghini to serve as head of insurance and annuities as the firm looks to capture more of the baby boomer market.

After the shock of 2008, investors had a generally sunny outlook: they were satisfied with their portfolios and their advisors and the firms that employed them. But that is no longer the case.

Morgan Stanley will pay cash bonuses to branch support employees at its Morgan Stanley Smith Barney unit who worked extra hours to remedy disruptions caused by a new computer system, a person briefed on the decision said.

The firm has poached two industry veterans from HSBC and Barclays as it looks to expand.

"We provide all the tools a broker needs to thrive," said Russell Gebhard, president of Sovereign Investment Group in Houston."If the advisor is successful, it's more than likely the clients will be, too."

Merrill Lynch Wealth Management has decided to increase its minimum equity trade fees to $75 from $50 following a year of research on how its pricing fits the market.

Tim Pawlenty, the former Republican governor of Minnesota who criticized Wall Street while running for president last year, is joining the Financial Services Roundtable as president and chief executive officer.

UBS AG had a culture that overlooked trading limits and other rules "as long as you were making money," according to Kweku Adoboli's lawyers.

Lloyd C. Blankfein, chief executive officer of Goldman Sachs Group Inc., said he would invest in real estate as central banks around the world focus on avoiding deflation.