Wealth Management industry news covering the financial markets, trends and wealth professionals.
Stay up to date with Wealth Management news and trends through our free Morning Memo e-newsletter. Join today.
UBS announced today that the firm plans to write-down another $19 billion in housing-related credit securities held on its books by the end of the first quarter, bringing the firm's total sub-prime losses to $37 billion thus far. As a result, the...
If you are a retail financial advisor at UBS and have client assets stuck in the auction-rate securities market, your new ad slogan might be: “UBS, You Are Pissed At Us.” That’s because the Wall Street Journal’s website is...
JP Morgan’s chief may have asked asked rival firms to back off from hiring Bear Stearns advisors, but that doesn’t mean competitors have stopped offering recruiting deals to anxious Bear reps.
Morgan Stanley reported better-than-expected first-quarter earnings today, at least temporarily easing investor nerves. Still, overall revenues and earnings were well below last year’s levels: Net revenue was $8.3 billion for the quarter, a...
Every state has a wrongful death act. Probate practitioners are probably familiar with their state’s version. Almost everywhere, though, the decedent’s personal representative must bring a wrongful death and survival action. And the general rule...
Morgan Stanley is streamlining its Global Wealth Management unit, reducing its four U.S. divisions (Northeast, South, Central, West) to two (South/West and Northeast/Central), according to an internal memo sent last week by Andy Saperstein, head...
A spokesperson for UBS denied rumors, aired by CNBC last week, that the Swiss firm is contemplating a sale of its U.S. wealth-management business in order to raise capital. UBS has written-down billions of dollars related to mortgage-securities...
Bear Stearns reached a deal Sunday to sell itself to J.P. Morgan—at a fire-sale price. J.P. Morgan will pay $2 a share for the teetering bank, less than one-tenth of the price that its shares were trading for on Friday. That day, Bear&rsquo...
By now, everyone on Wall Street knows Bear Stearns is in deep—well, you know what. But where does the firm’s state of emergency leave its 500 or so advisors? That depends on whom you ask.
