Wealthy Continue To Move Cash From Large Brokerages

Large U.S. brokerages are losing their grip on wealthy Americans' cash. The share of high-net-worth families' assets held by the big four brokerages -- Bank of America's (

) Merrill Lynch, Morgan Stanley's (

) Smith Barney, Wells Fargo (

), and UBS (

) -- fell to 45%, a study from Cerulli Associates out Wednesday found. That's down from a peak of 56% in 2007. Cerulli forecasts it sliding further to 42% by 2014. Bank trust departments,