News
Merrill Teams in Texas, Ohio and Georgia Shift to Competitors
In wirehouse-to-wirehouse move, brokers in Atlanta and suburban Cleveland jumped over the long weekend to Morgan Stanley, while Stifel landed a $1 billion-asset team in Fort Worth.
UBS Warns of Headwinds After Clients Pull $13 Billion in Quarter
UBS Group AG warned that the worst may not be over after clients pulled $13 billion in assets during a market meltdown in the final months of 2018.
BlackRock Exposed Personal Data on 12,000 LPL Brokers
A data leak revealed last week at BlackRock Inc. exposed names, email addresses and other information of about 20,000 advisers who are clients of the asset manager, including 12,000 at LPL Financial, the largest U.S. independent broker dealer.
Top Stories of the Week: Morgan Stanley Team Pushed Out Over Passwords, Earnings, and Wells’ New Offer
Most-read articles from January 13 through January 19.
BlackRock Exposes Data on Thousands of Advisors on iShares Site
BlackRock Inc., the world’s largest asset manager, inadvertently posted confidential information about thousands of financial advisor clients on its website.
Morgan Stanley Lifts Gorman’s 2018 Pay to Record $29 Million
Morgan Stanley boosted Chief Executive Officer James Gorman’s compensation by 7.4 percent to $29 million for 2018.
Judge Delays Sentencing of Former Merrill Broker Tom Buck
The “top” Indiana producer who admitted to $2 million of client overcharges get another temporary reprieve.
Rockefeller Nabs Two Merrill Teams in Atlanta
Six advisors overseeing about $2 billion of assets and producing more than $15 million gave their notice to Merrill on Friday and joined Greg Fleming’s new venture.
Wells Promotes John Alexander to Run Advisor Branch Network
Reorganizes Wells Fargo Advisors’ management structure in “simplification” move aimed at decreasing bureaucracy and reducing costs.
EXCLUSIVE: Wells Ups Recruiting Deals to Replenish Diminished Brokerage Force
Wells Fargo Advisors is offering as much as 275% of 12-month revenue to producers around $500,000 and 325% to those at $500,000 and above.
How Banks Woo Rich Heirs: Silicon Valley Tour Ending at Dive Bar
Citi Private Bank, Deutsche Bank, Morgan Stanley and BNP Paribas’s Bank of the West have all started special Silicon Valley programs for the offspring of their most valuable clients, providing exclusive access to startups and tech investors, along, of course, with time to unwind and network at a local watering hole.