Updated Thursday, July 31, 2014 as of 5:27 AM ET
New Merrill Lynch Platform Surpasses $100 Billion
More than $100 billion in client assets are now on Merrill Lynch One, the firm's new wealth management platform, representing a major technology upgrade for its 13,000 plus advisors.
The milestone was reached on Tuesday, less than a year after its launch, according to a Merrill spokesman. The firm rolled out Merrill Lynch One in September with a small pilot group. Merrill has since made the platform available one market at a time, sending out training teams to assist advisors.    more »
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UBS Wealth Management Americas reported record revenues of $1.89 billion, but profits slipped 3% year-over-year, due in part to higher compensation expenses. more »
Morgan Stanley agreed to pay $275 million to resolve a U.S. regulator’s claim the company misled investors in the sale of more than $2.5 billion of bonds backed by home loans. more »
A veteran advisor has left Morgan Stanley for a Chicago-based boutique investment firm where he will oversee $300 million in client assets. more »
The panel is comprised of seven public members and six industry representatives, pulling together advocates, attorneys, regulators and executives from firms such as Citigroup, Morgan Stanley and Securities America. more »
Despite record revenues from wealth management, Bank of America reported that profits slid 43% due to $4 billion in litigation expenses. more »
A Morgan Stanley advisor with $200 million in assets under management has rejoined Merrill Lynch. more »
D.A. Davidson gets a facelift as the regional firm nears its 80th anniversary and enters a new period of growth. more »
Morgan Stanley has picked up five financial advisors from Merrill Lynch, Wells Fargo and J.P. Morgan. more »
Wells Fargo's second quarter profits rose to $5.7 billion, buoyed in part by a roughly 25% increase in profits at the San Francisco bank's wealth, brokerage and retirement unit. more »
Raymond James & Associates lured away a UBS advisor team managing $575 million in assets. more »
Deutsche Bank's asset and wealth management unit is in growth mode in the U.S., hiring a string of managers and advisors. more »
Deutsche Bank, Germany’s largest lender, is relying on its money-management businesses to bolster growth, said Michele Faissola, the unit’s head. more »
With the acquisition of broker-dealer McAdams Wright Ragen complete, Baird has grown to more than 800 advisors and $125 billion in assets. more »
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