Wirehouses

A former UBS AG municipal-bond executive told an ex-colleague to forget about a transaction as they discussed how to handle an expanding government probe of bond big rigging, the second man testified at trial.

Merrill Lynch Wealth Advisor Ted Murphy does not usually tell his clients that he is an Olympic silver medalist, but says that his rowing career has prepared him for the discipline that he applies to his career today.

Bank of America Merrill Lynch has grown its new financial benefit plan assets to a record $20 billion this year as it leverages stronger ties between its bank and brokerage forces.

Citigroup Inc., the third-largest U.S. bank by assets, started an investment banking joint venture in China that will give it access to the world's second-biggest market for share sales.

Merrill Lynch Wealth Management has snapped up a financial advisor duo with $789.5 million in client assets under management months after they joined Barclays Wealth Management.

UBS Wealth Management Americas reported $211 million in pre-tax profit for the second quarter on Tuesday, up 28% from the same quarter last year, as the division continued to grow its financial advisor headcount.

The Swiss financial services firm said it suffered $357 million of losses from "the gross mishandling of Facebook's market debut" by Nasdaq OMX Group and that it will "pursue compensation for the full extent of our losses."

Morgan Stanley Smith Barney has scaled back its number of total regions to 12 from 16.

Morgan Stanley, trading at less than half of its liquidation value, could be worth as much as $32 a share in a breakup, said Michael Mayo, an analyst at CLSA Ltd.

Jefferies Group Inc. and Goldman Sachs Group Inc. led Wall Street’s largest securities firms in average compensation per employee at midyear, widening a lead over JPMorgan Chase & Co.

Did you ever wonder why the word "billion" seems to elicit a terrible feeling in your gut? Do you remember when a billion dollars seemed like so much money it was unattainable? Do you remember when a millionaire was considered really wealthy? Now, a millionaire is not rich and a billionaire must have done something evil to become one.

In the span of 12 months, the Active Bear Exchange-Traded Fund (HDGE) has become a wirehouse darling.

Elite RIAs have achieved near-equal compensation with top-earning wirehouse advisors, according to research from Sanctuary Wealth Advisors.

Wells Fargo Advisors announced it has named Kent Christian, currently head of its financial services group, president of Wells Fargo Advisors Financial Network, the broker-dealer affiliate through which Wells Fargo Advisors supports independent financial advisors.

A new report says wirehouses have boosted their average client age and created a threat to their own prospects for future growth.

Research firm Cerulli says high-net-worth investors are spreading their wealth among a variety of firms.

Advisors may still feel a bit awkward as well as worried about compliance when they use social media, but they’re definitely using it to build their brands and businesses, according to a new SourceMedia study.

Janney Montgomery Scott adds a pair of financial advisors from Wells Fargo Advisors and Morgan Stanley Smith Barney.

Most logical path to the future growth of wirehouses is through their largest advisor teams.

Wirehouses have lost headcount and asset share even as the average assets under management per advisor in the channel has risen, according to a new report released Friday from Cerulli Associates.