Mason Braswell

1 week ago | advisorhub.com | Miriam Rozen |Mason Braswell

Bank of America is making steady progress towards its ambition of more closely tying its Merrill Lynch retail brokerage unit with its consumer bank, executives said on Thursday. Around 62% of Merrill customers now have a relationship with Bank of America, according to the bank’s first quarter earnings on Tuesday. The portion of clients is now “approaching two-thirds of the client base,” Chief Financial Officer Alistair Borthwick touted on a conference call with analysts.

1 week ago | advisorhub.com | Mason Braswell

Morgan Stanley executives on Friday emphasized that it could find opportunities in asset-gathering, client outreach and advisor recruiting despite the uncertainty created by the tariff-induced market turmoil. Client engagement hit an all-time high over the past week as clients made “unsolicited” calls to place trades amid plunging stock prices, and the firm ramped up outreach with artificial intelligence-driven recommendations, according to Chief Financial Officer Sharon Yeshaya.

2 weeks ago | advisorhub.com | Karmen Alexander |Mason Braswell

&Partners, a hybrid brokerage and advisory firm launched 18 months ago, has reached almost $30 billion in client assets as its founders—mostly former Wells Fargo Advisors executives—are betting big on a quasi-independent model and equity-laden offers. &Partners has recruited at least 81 teams who generated around $242 million in combined revenue, David Kowach, founding partner and chief executive officer, said in an interview.

3 weeks ago | advisorhub.com | Miriam Rozen |Karmen Alexander |Mason Braswell

Trading and client account access systems at LPL Financial, the nation’s largest independent broker-dealer, were suffering from outages for hours on Thursday, according to two advisors at the firm. The outage, which continued for some into the afternoon and affected the firm’s Clientworks system, snarled brokers seeking to place buy and sell orders as stock prices worldwide plunged following the Trump administration’s unveiling of its tariff plan Wednesday evening.

3 weeks ago | advisorhub.com | Mason Braswell |Miriam Rozen

Morgan Stanley Wealth Management is jumping on the return-to-office bandwagon on Wall Street. Morgan Stanley’s 15,000 advisors will be required to be in the office at least four days per week starting May 5, according to a memo on Monday from Jed Finn, head of wealth management. “Much has changed since the height of COVID,” Finn said at the memo’s outset.