BusinessAugust 25, 2026

wirehouses

WY-er-how-zez

Definition

A large, traditional, full-service brokerage firm typically owned by a major bank or financial institution.

Etymology

The term originated in the early 20th century, derived from the physical wires used to transmit stock quotes to regional offices via ticker tape. It has evolved to represent the massive, centralized nature of major Wall Street brokerage companies.

In the news

The article uses the term to describe the types of institutional platforms that financial advisors often leave when choosing to move their business to an independent broker-dealer like LPL Financial. It highlights the trend of advisors seeking more autonomy away from these large, centralized firms.

LPL Financial lands $1.6B Conte Wealth Advisors from Cambridge

Read the full article ↗

InvestmentNews

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