Four Dominant Firms

Recently Released!!!
Date Published: December 21, 2022
Summary PowerPoint Deck: 322 Slides

Reference PowerPoint Deck: 1,764 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 financial advisor channels.

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)
And this research makes several future predictions for the wirehouses, including:
  • 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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