What's the current state of the wealth management industry? BOB McCANN: The wealth management industry, broadly, is recovering nicely from the financial crisis. Businesses are bedding down. I think there was a great deal of turmoil between 2009 and 2012 at Bank of America as the Merrill Lynch acquisition was being digested. There was also a great deal of turmoil at Morgan Stanley, bedding down the joint venture, until probably six months ago. And there's been a different flavor of indigestion, but indigestion nonetheless, at Wells Fargo.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access