New York: "It's been a real rough month," sighed Jeremy, "We've all been taking incoming calls non-stop, from the time we arrive in the morning until we leave at night.

Charles Schwab reported a slight drop in its third quarter earnings today, but excluding the sale of U.S. Trust in the year-ago quarter, results are mostly flat versus last year—which is an achievement considering the market environment.

Are the Wall Street wirehouses ready to concede defeat at the hands of the RIA industry? A survey conducted by Citigroup and released on October 7 could be interpreted as such.

Morgan Stanley eased investor worries about its future today, closing on its $9-billion deal with Mitsubishi UFJ Financial Group.

Wells Fargo emerged the victor in the battle for Wachovia after Citi was left at the altar.

On a nationwide conference call this morning with branch managers and regional directors, Robert McCann, president of Merrill’s global private client group, told them that they will not be getting anything in the way of retention. He also...

Morgan Stanley is having trouble convincing the market it’s a good investment.

As part of a larger cost-cutting effort, Smith Barney is consolidating some of its branch offices and laying off a number of its branch managers.

After an absolutely dizzying few weeks on Wall Street—which have included a chain of bank failures and near failures, several uncertain rescue attempts and the largest one-day point drop in the Dow Jones Industrial Average ever—...

Bank of America settled with the SEC and state regulators today over allegations of fraud in connection with the sale of auction-rate securities, agreeing to buy them back from its retail customers at par.