Q4 2022 ### Management View * CEO Mark Lashier reported Q4 2022 adjusted earnings of $1.9 billion and annual adjusted ...

Wurm and Frye joined the financial services industry in 1997, registering with IDS Life Insurance Co., and together moved through several firms, including Prudential Securities, LPL Financial and ...

Brokerage firms may seek to sweep cash into affiliated banks, often paying low interest rates. According to some reports, brokers could make 10 times more than their customers do on their cash.

Two Wall Street titans are shelling out a combined $60 million to the U.S. Securities and Exchange Commission for allegedly ...

Wells Fargo (WFC), Goldman Sachs (GS), Citigroup (C), Bank of America (BAC), and Morgan Stanley (MS) all beat estimates, instilling confidence that the Financials sector earned its 28% performance ...

The pair preach teamwork as the banking giant plunges further into different aspects of a housing market in desperate need of ...

Advisory clients’ uninvested dollars were automatically swept into bank accounts that paid paltry interest, but were profitable for the companies, the SEC said. Merrill Lynch and two units of ...

Wells Fargo and Merrill Lynch will pay $35 million and $25 million, respectively, to settle allegations by the Securities and ...

Two Wells Fargo-affiliated investment advisers and Merrill Lynch agreed to pay $60 million, while LPL Financial agreed to pay ...

When the Federal Reserve started raising its benchmark rates in 2022, banks kept paying very little on sweep accounts. That ...

According to the regulator’s orders — between 2018 and 2024 for Wells Fargo, and between 2022 and 2024 for Merrill Lynch — the firms only offered one option for their cash sweep accounts for advisory ...