JP Morgan Securities Dealt A Legal Blow; Bodes Well For Departing Advisors

In a recent legal decision, a JP Morgan Securities advisor defeated the firm in a non-solicit action. If you are scoring at home and remember that JP Morgan just announced that they are folding their more traditional wealth management unit … Read More

UBS New Boss: Management Cuts And ‘Client Interaction’ Surveillance

Well, that’s going to leave a mark. In a fairly innocuous article a few weeks ago, newly minted and incoming UBS Wealth Management boss, Iqbal Khan, made it clear that a full third of management positions in the wealth division … Read More

Wells Fargo: “The biggest deal on the street will continue for the foreseeable future…”

Wells Fargo announced that they will continue, in perpetuity, the largest recruiting deals on the street. They also reiterated their commitment to significantly reward recruiters for pushing valuable recruits to their multiplicity of platforms with increased recruiting fees that dwarf … Read More

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Merrill Lynch Outflows Continue; Texas Sees Another Round Of ML Departures

Merrill Lynch may be gloating about increased production across its broker ranks this holiday season, but that may not be because of the reasons you may think. A shrinking ‘real world’ headcount, increased incentives to add HNW households and a … Read More

UBS Set To Lose More Advisors In The Midwest; Keep An Eye On MLK Day Weekend

In October nearly half of an entire UBS office in the suburbs of Columbus, Ohio walked across the street and opened a brand new Morgan Stanley location. That move, and some of the subsequent legal back and forth, has been … Read More

UBS Attempts To Delay Death March; Delays Skyrocketing Grid Adjustments

The suits at UBS thought better of completely committing to a ‘the beatings will continue until morale improves’ policy come January 1 – instead choosing to delay (sort of) skyrocketing grid adjustments by six months. With an asterisk. Delaying team … Read More

Merrill In Advisors Pockets Again

Keys? √ Wallet? √ Phone? √ Other Phone? √   That’ll be the new routine for more than 14,000 Merrill Lynch brokers later this year as AdvisorHub is reporting that the legacy BD has decided to issue each of them … Read More

UBS Gets Hammered By First Republic In LA; Loses Billions In Client Assets

UBS leadership may be extolling the virtues of a smaller broker force and potentially higher profits, but we’d wager this wasn’t necessarily part of the Powerpoint presentation. In fact, there may be a head or two that could roll in … Read More

In Case You Didn’t Know Merrill Guys, BofA Owns You And Does What It Wants

The headline might seem obvious, but the day to day walking out of Merrill Lynch as an ancillary division of Bank of America gets uglier every week. This past week it was the revelation that Merrill Edge advisors will no … Read More