Morgan Stanley agreed to pay $275 million to resolve a U.S. regulators claim the company misled investors in the sale of more than $2.5 billion of bonds backed by home loans.
A veteran advisor has left Morgan Stanley for a Chicago-based boutique investment firm where he will oversee $300 million in client assets.
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.
Despite record revenues from wealth management, Bank of America reported that profits slid 43% due to $4 billion in litigation expenses.
A Morgan Stanley advisor with $200 million in assets under management has rejoined Merrill Lynch.
Morgan Stanley has picked up five financial advisors from Merrill Lynch, Wells Fargo and J.P. Morgan.
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.
Raymond James & Associates lured away a UBS advisor team managing $575 million in assets.
Deutsche Bank's asset and wealth management unit is in growth mode in the U.S., hiring a string of managers and advisors.
Deutsche Bank, Germanys largest lender, is relying on its money-management businesses to bolster growth, said Michele Faissola, the units head.
Thomson Reuters mid-year data shows that Morgan Stanley has jumped up underwriter ranks in the second quarter from the first quarter, managing a larger volume and increasing its market share.
Morgan Stanley CEO James Gorman wants to reduce advisor compensation relative to revenues, but experts warn that changing comp isn't without pitfalls.
Ameriprise enticed away a Morgan Stanley advisor who generated $1 million in annual revenue, according to a spokesman for the regional broker-dealer.
Two advisors managing more than $160 million in client assets have jumped from Merrill Lynch to Bison Financial Group, an independent practice of the Wells Fargo Financial Network.
Opponents argue that the long time horizon and heated controversy could convince the White House to back away from the retirement plan proposal.
Two UBS advisors managing more than $300 million in assets have joined Wells Fargo.
OnWallStreet's annual ranking of top wirehouses and regional broker-dealer firms in the employee advisory channel gives an encouraging snapshot of the wealth management industry. This years analysis from surveys and both corporate and public filings shows growth across the board.
OnWallStreet's annual ranking of the wealth management industry's top wirehouses and regional broker-dealers shows continued growth at these firms but they still face challenges growing their business. See which firms ranked highest and how the industry's leaders plan to stay on top.
For clients, is one type of firm, business model or fee structure better than another?
UBS' Barry Ringelheim has seen enormous changes in the industry during his 46-year career as a financial advisor. But he says earning clients' trust remains the foundation of the business.
Comprehensive financial planning isn't just good for clients. It's also good for business -- and advisors and their firms are paying attention.
Clarity in strategic vision and compensation boosts advisor satisfaction, according to a new J.D. Power & Associates study.
Father-and-son advisor team managing more than $200 million in assets left Sterne Agee for Raymond James.
Five years later, Julius Baer's CEO makes his mark, turning Switzerland's third-largest wealth manager into a global business spanning Europe, Latin America, the Middle East and Asia.
A Stifel advisor team that managed almost $200 million in assets has left the firm to join Raymond James & Associates.
An advisor team managing more than $170 million in client assets has left UBS to join Stifel, Nicolaus.
UBS, Switzerlands biggest bank, named former U.S. Senator George Mitchell chairman of a new advisory council for the firms business in the Americas.
Citigroup assets at its Asian wealth management businesses climbed to a record $251 billion at the end of May as U.S. and European banks have been seeking to boost their wealth businesses in Asia to tap rising affluence in economies from China to Southeast Asia.
UBS AG is a better bet than its Zurich neighbor Credit Suisse Group AG even though its more exposed to legal risks, according to JPMorgan Chase & Co. analysts.
Sterne Agee Group's former chief executive officer faces a U.S. probe into whether he misused company assets such as airplanes, boats, hunting clubs and condominiums, a person with knowledge of the matter said.