Large adviser teams control 80% of wirehouse assets (Investment News.com)

Moynihan pick goes over big with Merrill brokers (Investment News.com)

Morgan Stanley Smith Barney Revamps Fees (FA Mag) - Morgan Stanley Smith Barney is launching a pricing plan for fee-based accounts in April that will charge clients based on the level of service provided rather than the product.

UBS Recruiting Deal Doesn't Match Rivals (Bank Investment Consultant) - It may not be enough to stem the tide of defections.

Big Wirehouse Teams Dominate Wealth Management (Bank Investment Consultant) - The four big wirehouses still control over half of all advisor-managed assets.

Update: Experts Reexamine UBS Recruiting Plan (Bank Investment Consultant) One source familiar with the deal says it also includes bonuses in the second and third years.

SEC Rule Would Mean No More Surprise Audits (Bank Investment Consultant) - The SEC proposed a rule that would do away with surprise audits for smaller firms.

UBS Announces New Comp Plan; Comp Focused on FA Loyalty and Future Production (Registered Rep)

Small Brokers Fight Auditing Proposal (Securities Industry.com) Small brokerage firms are taking their fight against having their accountants subject to regulation by the Public Company Accounting Oversight Board to the Senate.

Gregory Fleming Joins Morgan Stanley (On Wall Street) - Former Merrill president/COO, who helped seal the deal to sell the firm to Bank of America, will begin his new role at Morgan Stanley in February.

McCann rolls out enhanced pay plan at UBS (InvestmentNews.com)

FINRA Provision Deleted From Reform Bill (Investment Advisor) - The provision that would have given FINRA the authority to inspect and regulate any investment advisor associated with a broker/dealer was successfully deleted from the huge financial services reform bill on December 11.

Merrill Must Pay for Wrongful Termination (Bank Investment Consultant) - FINRA ruled that the firm wrongfully terminated Joseph J. Mattia from his position as a branch manager of Merrill's flagship office in New York City.

Ex-Smith Barney Branch Manager Opens New York Wealth Management (Bank Investment Consultant)