Wirehouse News

UBS Wealth Management Americas (WMA) crossed the threshold in the first quarter with a string of new records: pretax profit of $251 million, net new money of $9.2 billion, and invested assets of $891 billion...

The milestone for the profitable U.S brokerage division comes even as its Swiss-based parent firm posted an overall loss. Bob McCann's strategy of paying for premium brokers seems to be working...

Assets mostly were up, but advisors are on the move...

Across the board, all four major wirehouses tweaked their compensation plans for the upcoming year; In some cases, they are upping the bar to earn payouts and putting greater emphasis on incentives to gain new, richer clients...

Many industry propeller heads have expected an exodus of advisors out of the wirehouses as the golden handcuffs loosened this year. But our annual Broker Report Card Survey shows that, with the exception of Morgan Stanley, most advisors at the national brokerages feel just fine where they are...

While the trend toward independence slowed a bit from previous years, 2012 was the year the independent channel legitimized its place next to the more traditional players...

Pressure to serve only the wealthiest, wirehouses are ceding the mass affluent to the independent, DIY brokerage platforms. Indeed, “direct” brokerages are beginning to offer more advice...

Wells Fargo reported record net income of $4.9 billion in the third quarter, but results in its wealth, brokerage and retirement business were less exciting...

Are the traditional wirehouses in the early stages of a perpetual decline, or simply finding a sharper focus? Tyler Cloherty of Cerulli Associates crunches the numbers exclusively for WealthManagement.com to find what's really behind the narrowing gap in market share between wirehouses and...

The high expense and low success rate of broker trainee programs is a problem for the industry. Merrill Lynch may have found the answer...