MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, March 15, 2011 Is Wells About to Create the Biggest Wirehouse? If the rumors are true, fundsters may soon face a distribution world with only three wirehouses. InvestmentNews' Andrew Osterland reports that industry insiders are whispering again about Wells Fargo possibly buying UBS' U.S. wealth management arm. Combining Wells' 15,000 advisors with UBS' 6,800, even after some attrition, would turn Wells into the largest of the three remaining wirehouses, ahead of Bank of America Merrill Lynch and Morgan Stanley Smith Barney. A UBS spokeswoman told the trade pub that UBS' chief "has always maintained that the Wealth Management Americas business is not for sale," and a Wells spokesman declined to comment for the story. Printed from: MFWire.com/story.asp?s=36271 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |