Coming from Merrill Lynch, financial advisors David Towers and Jason Capron joined Wells' Private Client Group in Syracuse, New York. The team, known as the Towers Capron Group at Merrill, has $1.6 ...

For its part, Raymond James recently welcomed a father-son advisor team from Wells Fargo to its independent advisor channel ...

Bitwise CIO Matt Hougan has said major financial institutions will soon start soliciting Bitcoin ETF investments from their clients. Hougan believes Bitcoin ETFs will see record ETFs this year.

The outcome is a stark contrast to earlier cases involving Merrill Lynch and two Wells Fargo advisory affiliates. These firms agreed in January to pay a combined $60 million in civil penalties to ...

While Wells Fargo and Merrill Lynch paid $60 million for a ‘cash sweep’ Securities and Exchange Commission violation in February, Morgan Stanley will see no penalty from the SEC over the firm ...

According to Bitwise CIO Matt Hougan, the big four U.S. wirehouses—Merrill Lynch, Morgan Stanley, Wells Fargo, and UBS, which collectively manage over $10 ...

The Securities and Exchange Commission concluded its investigation into Morgan Stanley 's cash-sweep program without recommendations for enforcement action, according to the firm's quarterly filing to ...

Idle cash is automatically moved to an interest-bearing account or a money market fund, unless the account holder chooses to ...

The SEC has concluded its investigation into Morgan Stanley's cash sweep program without pursuing enforcement action, after examining its compliance with regulations. Several banks' cash sweeps faced ...

Michael Wursthorn wrote about retail brokerages for The Wall Street Journal, including Morgan Stanley Wealth Management, Merrill Lynch, Wells Fargo Advisors and UBS Wealth Management Americas.

In what may be viewed as a pre-emptive move, Morgan Stanley raised its advisory sweep interest rate from 0.01% to roughly 2% as of August 1, 2024—joining other firms aiming to ease regulatory tensions ...