Wirehouses:
Four Dominant Firms
Recently Released!!!
Date Published: June 12, 2025
Summary PowerPoint Deck: 389 Slides
Reference PowerPoint Deck: 1,436 Slides
The purpose of this research is to provide readers with a comprehensive understanding of the wirehouses, the four firms that dominate full-service brokerage firms, including Bank of America Corporation (Merrill Lynch), Mitsubishi UFJ Financial Group (Morgan Stanley), Wells Fargo Corporation (Wells Fargo Advisors), & UBS Group (UBS Financial Services). This research is part of Tiburon's coverage of full-service brokerage firms and its broader coverage of wealth management firms.
This research defines the wirehouses, including:
Date Published: June 12, 2025
Summary PowerPoint Deck: 389 Slides
Reference PowerPoint Deck: 1,436 Slides
The purpose of this research is to provide readers with a comprehensive understanding of the wirehouses, the four firms that dominate full-service brokerage firms, including Bank of America Corporation (Merrill Lynch), Mitsubishi UFJ Financial Group (Morgan Stanley), Wells Fargo Corporation (Wells Fargo Advisors), & UBS Group (UBS Financial Services). This research is part of Tiburon's coverage of full-service brokerage firms and its broader coverage of wealth management firms.
This research defines the wirehouses, including:
- Bank of America Corporation (Merrill Lynch)
- Mitsubishi UFJ Financial Group (Morgan Stanley)
- Wells Fargo Corporation (Wells Fargo Advisors)
- UBS Group (UBS Financial Services)
- Slow Growth in Number of Financial Advisors and Moderate Growth in Assets Under Management & Administration and Net New Assets Under Management & Administration
- Fastest Growth for Merrill Lynch & Morgan Stanley
- Continuing Focus on Top Producers through Recruiting Bonuses, Compensation Plans, & Teams
- Increasing Role of Managed Accounts & Alternative Investments
- Aggressive Competitive Responses to Growth of Discount & Online Brokerage Firms and Independent Advisors
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Tiburon members can download the summary or reference PowerPoint presentation, view the most recent Tiburon Webinar featuring Tiburon's Managing Partner (or another Tiburon team member), and/or listen to the most recent Tiburon podcast featuring Tiburon member CEO guests by clicking on the buttons below:
Non-Tiburon Members:
Non-Tiburon members can either become Tiburon members or subscribe to this specific Tiburon Research by clicking on one of the buttons below:
Media Members:
Members of the media who would like access to this Tiburon Written Research, Tiburon Webinar, and/or Tiburon Podcast should send an email to Sarah Sage using the button below:
