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