Regional & Wirehouse Brokers

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Wall Street Companies Are Cutting Staff As They Prepare For A Downturn

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At the five biggest US banks, revenue from dealmaking and sales of new securities tumbled 47% in the first nine months of 2022.

SEC Proposes Sweeping Changes To Stock Trading And Payments For Order Flow

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If approved, the proposals will change the way retail orders are priced, routed and filled.

Morgan Stanley Sues Estate Of Dead Advisor Who Had Shot Co-Worker

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Morgan Stanley said Leonard Bernstein signed two promissory notes for $478,000 while he was employed there.

E*Trade Eliminates Mutual Fund Commissions, Redemption Fees

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The move further aligns E*Trade's operations with Morgan Stanley's.

JPMorgan Seeks Restraining Order, Says Ariz. Advisor Lured $19.8M In Assets

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The firm said Robert P. Lewis lured 35 of his clients to Wells Fargo. It wants to freeze more departures.

Goldman To Cut Hundreds More Jobs As Consumer Unit Scaled Back

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CEO David Solomon has recently also signaled he's reviewing other business lines to manage headcount and limit costs.

Goldman CEO Sounds Warning On Pay, Job Cuts On Uncertain Outlook

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Solomon said the US could see a recession in 2023, even though the firm's economists say it could still avoid one.

Morgan Stanley Will Cut About 2,000 Jobs Ahead Of Potential US Recession

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Goldman Sachs and Bank of America executives have also warned of hiring slowdowns.

Reg BI Sweep Nearing Completion In The States

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A similar sweep found retail conflicts of interest were still rampant in 2021.

Finra Panel Orders Morgan Stanley To Pay $11.7M To Client Over Covered Call Strategy

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The client said the firm removed large positions in Nvidia and other tech stocks from his accounts to cover its options.

UBS Backtracks On CEO's Plan To Reach Wider Swath Of Wealthy U.S. Clients

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The firm walked back plans after abandoning a deal to buy robo-advisor Wealthfront.

Barred J.P. Morgan Broker At Center Of $55.6M Arbitration Suit

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Edward L. Turley was barred by Finra last week after refusing to answer questions about his trading.

SEC Broke Records With 760 Enforcement Actions In 2021

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The $4.1 billion in civil penalties levied by the agency were the highest on record

Goldman Names About 80 New Partners In Biggest Class Under Solomon

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This is expected to be the most diverse group of executives elevated to Goldman's top rank.

RBC Adds 16-Member UBS Team In Indianapolis With $1.7B

by FA Staff

The Promus Wealth Management Group is led by David Bartz, Daniel Chillemi and Brendon Harbron.

Credit Suisse Taps RBC, Morgan Stanley For Possible Capital Hike

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Credit Suisse executives are preparing to tap outside investors if they need more funds.

CFP Board, Charles Schwab Debut Diversity Scholarship

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The CFP Board's Center for Financial Planning has partnered with Schwab Advisor Services and the Charles Schwab Foundation to offer a collaborative scholarship.

RIA Net Organic Revenue Growth Is Practically Nonexistent

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The net organic revenue growth of RIA firms is quite low when you exclude the market's movement.

Firms Already ‘Self-Correcting' DOL Rollover Rule Violations

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Firms are struggling to ensure all their advisors are in compliance with the fiduciary rule, attorney Fred Reish said.

Making Data Wealth Management's Technology Hub

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To get the most out of technology, data has to be useful, usable and movable.

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