Topic: Investment Brokerages
UBS still losing U.S. wealth management clients, advisers
Reuters US Online Report Business News
NEW YORK (Reuters) - The embattled U.S. wealth management business of Swiss bank UBS AG <UBSN.VX> <UBS.N> continued to bleed client assets in the fourth quarter, hurt by fleeing advisers and negative publicity from a tax-fraud scandal. UBS Wealth Management Americas, mostly the U ...
UBS client outflows increase
Reuters US Online Report Business News
ZURICH (Reuters) - UBS <UBS.N> clients withdrew money at twice the expected rate in the fourth quarter, eclipsing the bank's first net profit since Oswald Gruebel took the helm a year ago and raising concern he will struggle to steady the ship. Gruebel, the banking veteran who ...
E*Trade cuts trading fees as price war escalates
Reuters US Online Report Business News
NEW YORK (Reuters) - E*Trade Financial Corp <ETFC.O> will cut trading fees for low-volume customers, the U.S. online brokers said on Friday, making its move in a pricing war that erupted among rivals in recent weeks. The company said all customers will pay $9.99 or ...
Wells Fargo to poach, train 1,400 brokers this year
Reuters US Online Report Business News
NEW YORK (Reuters) - Wells Fargo & Co's <WFC.N> brokerage expects to add more than 1,400 financial advisers this year through a combination of poaching from rivals and training rookie brokers. Wells Fargo Advisors, comprising the combination of A.G Edwards, Wachovia Securities and Wells Fargo ...
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