Launching another volley in the fight over a national fiduciary standard, an investor advocate group argues that brokerage firms are misleading investors.
Traditional firms must boost their digital wealth management tools or risk being overrun by those that already do.
John Lipari and Richard Ribek say they chose Raymond James' "client-first culture."
Better technology, cultural differences and bigger deals have enabled regional firms to recruit more competitively and keep up the momentum.
For several years regional banks have been furiously trying to boost fee income by beefing up in wealth management. But the cost of acquiring talent has made it hard for them to gain traction in this all-but saturated market.
The heads of the employee and independent advisory channels will report to Ameriprise CEO Jim Cracchiolo when Don Froude steps down as president of the firm's Personal Advisor Group.
The wirehouse grabbed a group that produced $2.5 million at RBC.
The firm also said it had recruited a wirehouse team with $2 million in annual revenues.
Leaders at the biggest firms are looking to deferred compensation and other ways to grow shareholder value and control costs.
Two Morgan Stanley advisors managing about $150 million in assets moved to the regional broker-dealer.
The firm's employee channel picks up two financial planners from brokerage M.J. Whitman.
Raymond James & Associates tapped a former Morgan Stanley exec and RIA co-founder as regional director.
Two groups representing five advisors left Morgan Stanley to join RBC.
Here's how the industry's leading experts say you can protect your data and your practice.
Wealth-management profits fell 2.1% to C$230 million, after recording C$27 million in restructuring costs for its U.S. and international operations, while insurance earnings rose 18% to C$185 million.
As expenses get harder to tighten and net interest income remains strained, fee income becomes more important for banks.
The deal boosts Stifel's advisor force by one-third to about 2,800 advisors -- and readies the firm to grow its business in the independent channel.
Three former Ameriprise advisors will sign on with the employee advisory channel at Raymond James.
Stifel CEO Ronald Kruszewski wants to be an advice leader, and acquiring Sterne Agee may get him there, potentially lifting the firm's total advisor headcount to 2,800.
A Stifel-Sterne Agee merger would dwarf other moves made last year.
The three-advisor team generated more than $2 million in annual revenue before making the move.
Regional broker-dealer Wunderlich Securities recruited two wirehouse advisors.
A former RBC team that managed $200 million in client assets has signed on with Raymond James' Los Angeles office.
No clarity on how regulators will decide to handle fiduciary standard proposed for broker-dealers, Schapiro said.
The recruit takes on a new role as complex manager at the firms latest office in Birmingham, Ala.
Two veteran wirehouse advisors joined regional broker-dealer Wunderlich.
Two UBS advisors managing $170 million in assets joined Baird.
These firms have made advisor-friendly cultures a crucial part of their success in both retaining advisors and recruiting new ones.
"I spent the first 21 years of my professional life in the broadcast industry. ... When youre on deadline, you almost have to become an instant expert," says Edward Jones advisor Alison Gilman Aquino.
Ameriprise Financial reported 33% year-over-year growth in wealth management profits.
Oppenheimer Holdings will pay $20 million to settle U.S. regulatory claims that it improperly sold billions of shares of penny stocks on behalf of an offshore brokerage.
Raymond James & Associates recruited advisors from Oppenheimer & Co. and Wells Fargo Advisors, each with close to $1 million in revenue.
Two wirehouse advisors generating $1.3 million in annual revenues joined RBC Wealth Management.
The regional broker-dealer lands three new recruits for its employee channel, including one who managed more than $100 million AUM.
The asset management firm made the new hires during a recruiting push in the last quarter.
City National's sale to RBC bestows new wealth on two men who have served as Hollywood's private bankers since Steven Spielberg filmed "Jaws."
An advisor at RBC has been promoted and will oversee six wealth managers.
When does it make sense to buy your list of clients? Attorney Alan Foxman explains.
Royal Bank of Canada is ready to take another shot at U.S. banking, agreeing to buy City National in Los Angeles.
But while quarterly earnings at the company's wealth management unit dropped 7% from the previous quarter, they were up 30% year-over-year.
Raymond James lured away a Morgan Stanley advisor managing more than $85 million in client assets.
Two advisors left Wells Fargo to join Stifel.
An advisor managing more than $188 million in client assets joined Raymond James & Associates.
Kevin Reed, head of wealth management for Janney Montgomery Scott, explains how the firm is shifting its focus to meet the needs of a "new breed of FA."
Raymond James lured away a UBS advisor managing more than $120 million in assets.
Anastasios "Tommy" Belesis, the former head of John Thomas Financial, was barred from the brokerage industry for life by FINRA for trading ahead of clients' orders.
An Edward Jones advisor managing more than $114 million in client assets joined the Raymond James independent channel.
Two advisors left RBC to join Raymond James' employee channel.
Stifel Nicolaus lured away a 36-year veteran advisor from RBC.
An advisor managing $215 million in assets left Merrill Lynch to join the regional firm.
Firm president Tash Elwyn explains the upswing in advisor headcounts.
Cerulli predicts that market share gains in the RIA and dually registered channels will likely come at the expense of wirehouses and independent broker-dealers.
The firm recruits a team with advisors from Wells Fargo and JP Morgan.
The advisor was with Raymond James for five years without any customer complaints noted by FINRA.
Ameriprise advisor Joe De Sena explains how getting involved in a charity changed his practice. "It's about making contributions to their lives in a way that has almost nothing to do with the money."
An advisor joined BB&T Scott & Stringfellow to become the firm's latest wirehouse recruit.
Raymond James & Associates lured away a wirehouse team with $116 million in AUM.
The National Adjudicatory Council upheld an earlier ruling finding Wedbush liable for failure to file accurate and on-time reports of customer complaints and broker registrations.
A Wells Fargo team left the wirehouse to join Raymond James & Associates.
Raymond James & Associates recruited an advisor managing more than $191 million in assets from regional rival Stifel.
The team, known as Madison Street Financial Group, generated $3.5 million in annual revenue.
An advisor team generating $6.7 million in annual revenue has left J.P. Morgan Securities for Raymond James & Associates.
An ex-Ameriprise franchise advisor was fined and suspended by FINRA for allegedly copying and pasting client signatures onto documents.
A new addition to Raymond James & Associates helps further the firm's growth plans.
Two Raymond James advisors joined Ameriprise; one went to the employee channel, the other moved to the firm's independent side.
Wells Fargo Advisors recruited a veteran advisor generating more than $1 million in annual revenue.
Wealth management profit increased 41% to C$285 million from a year ago as fee-based client assets rose, while insurance more than doubled to C$256 million.
The industry regulator closes the comment period for its controversial data-reporting initiative as brokerage trade groups warn of privacy concerns and compliance costs.
Merrill Lynch lost a group of advisors managing $535 million in assets to Raymond James & Associates.
Kelly King, BB&T's chairman and chief executive, expressed frustration with the interest rate environment. It's "challenging to get expenses down today."
Stifel Financial hired a new branch manager who previously worked for Merrill Lynch.
A Morgan Stanley branch manager left the wirehouse to join Raymond James & Associates and help with the firm's expansion plans.
The wirehouse said it scooped up two advisors from rivals Raymond James and J.P. Morgan.
Two advisors have left J.P. Morgan Private Bank to join Barclays' wealth management division in Palm Beach, Fla.
Raymond James & Associates lured away one advisor who generated $2 million in production.
RBC Wealth Management-U.S. grabbed a trio of financial advisors generating $1.8 million in annual revenue from Oppenheimer & Co.
Worries about a tidal wave of retiring advisors may be overblown, say some wealth management executives.
RBC enticed away a Merrill Lynch team managing $103 million in assets.
Frank Campanale, CEO of Lebenthal Wealth Advisors and a former executive at Smith Barney, spells out the key elements in firm's growth plans and recruiting strategy: brand, equity stakes and passion.
RBC Wealth Management lured away a wirehouse advisor managing $116 million in assets from Wells Fargo Advisors.
Lebenthal Wealth Advisors has recruited a former wirehouse branch manager and two independent advisors to fulfill its growth plans.
An independent advisor managing $165 million has joined Ameriprise's employee channel.
The Denver-based association announced Friday that it has grown in 2014 to more than 10,000 members and certificates worldwide.
Profits are up at wealth management firms, and executives are taking stock of their priorities and goals.
In an exclusive set of interviews with On Wall Street, the industry's leading executives talk about how clients' needs are changing, technology is evolving and how firms can keep growing the bottom line.
Stifel has been busy building its business with little public profile. The firm wants to change that, says President and CEO Ronald Kruszewski, who acknowledges that the lack of attention thus far has probably been a good thing. "You want to be famous; you dont want to be infamous."
Janney Montgomery Scott lured away a husband-wife team from Wells Fargo Advisors.
Ameriprise's executive vice president says the firm has spent a lot of resources, especially in the major markets and major cities, establishing training programs to bring new advisors into this business.
Ameriprise CEO Jim Cracchiolo credited growth in the firm's fee-based businesses and wealth management unit for the company's robust overall performance.
Edward Jones Managing Partner James Weddle says the firm grows organically, recruiting from colleges and even the military for new advisors.
An advisor team has left J.P. Morgan to join regional wealth manager Janney Montgomery Scott, opening a new office in Rhode Island.
A former BofA Merrill Lynch Team who felt wronged after being terminated has signed on with full-service brokerage firm Stifel Financial.
On Wall Street extends its deadline for its annual ranking of the top 40 advisors under age 40.
Looking at the range of services received by clients in all advisory channels, traditional wirehouses take the lead in catering to high-end client needs, according to research from Cerulli Associates.
Agency secures $4 billion in penalties; expert says: make sure that you have a robust and dynamic compliance program.
Stifel Financial brings in a veteran Morgan Stanley advisor for a newly created client office in West Chester, Pa.
Waddell & Reed picked up an advisor from rival Edward Jones.
Female advisors from Raymond James' Private Client Group got a mix of planning tips, technology tricks, strategic advice and female empowerment.
A Morgan Stanley advisor duo with $213 million in AUM has left the wirehouse to join RBC Wealth Management.
Raymond James reshuffles its divisions, leading to several management appointments.
A UBS advisor managing $108 million in assets has left the wirehouse to join rival firm Merrill Lynch.
On Wall Street has dropped its minimum AUM for its annual ranking of the top 40 advisors under age 40. Who will it be this year?
Advisor Jo Ellen Fisher, who allegedly stole nearly $1 million from a 95-year-old client, is barred from the industry and has been sued by her former employer.
Raymond James & Associates recruited a wirehouse advisor who generated over $1 million in revenue, managing more than $120 million in assets.
Wunderlich Securities is growing, picking up Dominick & Dominick, a New York-based brokerage firm with a long history on Wall Street.
D.A. Davidson Companies announced that Jim Kerr would replace Bill Johnstone as CEO effective January 2015.
FINRA has issued a long-awaited regulatory notice outlining the proposal for a controversial data-sharing system known as CARDS, asking for comments from the industry and other stakeholders.
At an advisor summit, the industry group urges members to reach out individually to lawmakers to fight regulatory plans.
Raymond James' annual Women's Symposium, to be held Oct. 8, is due to feature leading women in the financial services industry, including Sallie Krawcheck.
Four Wells Fargo advisors have left the wirehouse to join Benjamin Edwards, opening the regional broker-dealer's 49th office.
Raymond James has landed a former UBS advisor with more than $125 million in client assets and more than $800,000 in annual fees and commissions.
Consumer and industry advocates are criticizing FINRA over its alternative to a proposal that would have required recruiting firms to disclose advisor compensation incentives to clients when moving between brokerages.
Washington Wealth crests $1 billion in AUM by adding Martucci Adams Wealth Advisors of Salt Lake City.
Wealth management firms look to grow the bottom line out West. "Everybody is trying to get bigger in the marketplace. And those who aren't present here want to enhance their presence," says Bill Willis, a Los Angeles-based recruiter.
Janney Montgomery Scott replaces wealth management products chief David Penn, as he steps down to become a financial advisor.
A Merrill Lynch advisor managing $230 million in assets has left the wirehouse to join RBC Wealth Management.
In a two-week period, Ameriprise has recruited five advisors managing more than $600 million.
Baird picked up a branch manager from Wells Fargo and a regional advisor managing about $150 million in assets.
Regional broker-dealer Janney Montgomery Scott recruited an advisor who managed $115 million in assets and generated about $1.3 million in annual revenue.
As people live longer lives, clients are ever more worried about outliving their assets. Advisors are helping them stay calm about maintaining their lifestyles in retirement.
A former Stifel advisor joins Janney Montgomery Scott's private client group.
A Wells Fargo advisor managing $115 million in assets has left the wirehouse for Raymond James & Associates.
Raymond James recruited a former Merrill Lynch executive to head one its newest branch offices.
Q&A with Benjamin F. "Tad" Edwards IV, CEO and President of Benjamin F. Edwards & Co., on how he built up his firm to have 180 advisors in 24 states.
Regional firm Benjamin F. Edwards picked up a Wells Fargo advisor team.
A Raymond James advisor has left the firm to join U.S. Capital Advisors, a small regional wealth management firm experiencing rapid growth.
Federal Reserve Bank of Boston President Eric Rosengren said brokerage regulation needs a major re-examination to prevent funding shortfalls during a crisis and that brokers should have higher capital requirements.
Stifel Nicolaus picked up a Baird advisor managing over $170 million in assets.
Ameriprise had a busy recruiting month in July, adding four advisors managing over $350 in assets to its franchise channel.
In an exclusive interview, Tash Elwyn, president of Raymond James & Associates, explains why the firm is enjoying recruiting success and where its future growth will come from.
Raymond James has picked up a UBS advisor team that had annual fees and commissions of about $1.9 million.
Wunderlich Securities picked up an advisor with $70 million in client assets from Raymond James & Associates.
Raymond James is launching a new education campaign to arm the firm's advisors with tools and techniques based on research from MIT's AgeLab.
As the firm pursues growth, Raymond James executives are striving to maintain its intimate feel and regional firm culture.
Record quarterly profits of $122.7 million were boosted in part by the performance of the regional firm's private client group.
Midwest assistant regional director Matt Ransom has been promoted to vice president of new financial advisor training and development for its HNW education and practice management team.
Raymond James has lured away two advisors managing $100 million in client assets from UBS.
Baird and McAdams Wright Ragen will combine offices in Portland, Ore., following Baird's recent acquisition of the Seattle-based broker-dealer.
Benjamin F. Edwards grabbed nearly a dozen advisors and opened offices in three states.
D.A. Davidson gets a facelift as the regional firm nears its 80th anniversary and enters a new period of growth.
Raymond James & Associates lured away a UBS advisor team managing $575 million in assets.
With the acquisition of broker-dealer McAdams Wright Ragen complete, Baird has grown to more than 800 advisors and $125 billion in assets.
Ameriprise enticed away a Morgan Stanley advisor who generated $1 million in annual revenue, according to a spokesman for the regional broker-dealer.
OnWallStreet's annual ranking of top wirehouses and regional broker-dealer firms in the employee advisory channel gives an encouraging snapshot of the wealth management industry. This years analysis from surveys and both corporate and public filings shows growth across the board.
OnWallStreet's annual ranking of the wealth management industry's top wirehouses and regional broker-dealers shows continued growth at these firms but they still face challenges growing their business. See which firms ranked highest and how the industry's leaders plan to stay on top.
For clients, is one type of firm, business model or fee structure better than another?
Clarity in strategic vision and compensation boosts advisor satisfaction, according to a new J.D. Power & Associates study.
Father-and-son advisor team managing more than $200 million in assets left Sterne Agee for Raymond James.
A Stifel advisor team that managed almost $200 million in assets has left the firm to join Raymond James & Associates.
An advisor team managing more than $170 million in client assets has left UBS to join Stifel, Nicolaus.