Top Wirehouse and Regional Broker-Dealers Continue to Grow

Posted on July 31st, 2014 at 9:01 AM

From the Desk of Jim Eccleston at Eccleston Law Offices:

According to OnWallStreet’s annual ranking of the top regional and wirehouse broker-dealers, wirehouses and regional broker-dealers continue to grow but face challenges.

Last year, Morgan Stanley topped the industry leaders list with increased commission revenues of 6.4%, and fee revenues of 6.2%.

UBS is in the process of transforming itself into a more comprehensive wealth management firm. It is providing advisors with support and training. And to further boost revenues, UBS is aiming to grow its lending business and mortgage offerings. At the end of 2013, UBS already had expanded mortgage lending to $6.7 billion.

Bank of America Merrill Lynch, which topped the wealth management firms’ list by revenue, is aiming to boost advisor productivity through large-scale technology upgrades. The firm recently launched an iPad app, “Merrill Lynch Clear”, which uses interactive graphics and research to help users identify their retirement priorities. Moreover, the firm also is upgrading and combining its platform into a single advisor workstation, Merrill Lynch One, which is expected to be a vital tool for Merrill advisors.

Regional leaders like Royal Bank of Canada (RBC) rapidly have expanded its force in the U.S. market through a number of acquisitions starting in 2000. The firm reported a roughly 15% profit growth in the second-quarter earnings this year. And according to RBC’s CEO, the firm is moving to the next stage to grow its wealth management and capital market business in the U.S. through organic growth and acquisition. 

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

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