What are the biggest wirehouses?

What are the biggest wirehouses?

The four largest and most well-known wirehouse full-service brokerage firms today are Morgan Stanley, Bank of America’s Merrill Lynch, UBS, and Wells Fargo.

Who are the four wirehouses?

The four wirehouses–Merrill Lynch, Morgan Stanley, UBS Wealth Management USA, and Wells Fargo Advisors–have reason to envy the growth rates of brokerages with a large self-directed customer base, including Charles Schwab, Fidelity Investments and Vanguard, a Cerulli Associates researcher said yesterday.

Is Charles Schwab a wirehouse?

With no wirehouse or broker fees, they control 100% of their revenue.

What is an example of a wirehouse?

Examples of notable wirehouses include Bank of America Merrill Lynch, Wells Fargo, and Morgan Stanley.

Is Edward Jones a wirehouse?

Edward Jones’s hybrid persona stems in part from its position within the industry—it’s typically classified as a regional brokerage even though the firm’s roughly 13,000 advisors are located in big cities and small towns coast to coast. Most of those came from the wirehouses, but some were from regional firms.

Is Raymond James a wirehouse?

While Raymond James has the capabilities of a wirehouse firm, there are some notable differences. Also, unlike the big Wall Street firms, the overwhelming majority of our revenue comes from our Private Client Group, not our investment bank.

Is LPL a wirehouse?

In 2018, LPL Financial tapped a wirehouse veteran, Rich Steinmeier, who helped launch the wildly successful Merrill Edge, to take over as head of recruiting. And last year it launched its Linsco-branded platform for wirehouse advisers, promising to increase those advisers’ payouts, putting more money in their pockets.

Who are Raymond James competitors?

Raymond James competitors include Goldman Sachs, JPMorgan Chase & Co, Morgan Stanley and Stifel Financial Corp..

Can I sue Merrill Lynch?

Thanks to an arbitration clause in your Merrill Lynch terms of service contract, you can’t sue Merrill Lynch in any court except small claims court. It can be complicated and time consuming, but suing Merrill Lynch in small claims court can lead to you receiving compensation.

Are wirehouses more productive than other advisors?

A new report by Boston-based research firm Cerulli Associates offers a striking snapshot of advisor productivity, as measured by the average assets under management per advisor. Wirehouses are 124% more productive than the industry average, according to data from the Cerulli study published Monday.

Who are the top 100 wirehouse advisors in America?

The List: Top 100 Wirehouse Advisors in America Name 1. Mark T. Curtis 2. Roger V. Coleman 3. Thomas J. Keegan 4. Ronald C. Hart

Which company has the largest AUM for personal advisor services?

VANGUARD Vanguard Personal Advisor Services reigns king, with an AUM clocking in at $212 billion as of year end 2020, largely due to its stellar hybrid approach with human advisers in the mix, according to Backend Benchmarking’s Robo Report covering the fourth quarter of 2020.