Raymond James Financial reported that net income was up 33%, boosted by record private client group revenue.
John Taft, CEO of RBC Wealth Management-U.S., shares his insight on upcoming regulatory changes, an ever-more complex marketplace and leadership.
Janney Montgomery Scott recruited an advisor team with $1.7 million in annual revenue from Barclays.
Baird is merging with McAdams Wright Ragen, a wealth management firm based in Seattle that oversees more than $10 billion in client assets, according to the companies.
Advisor group Cohen Financial Management has joined Raymond James Financial from J.P. Morgan Securities, where the team generated annual revenues in excess of $4.2 million.
Baird reported record revenues for 2013, and added a former-Wells Fargo advisor as branch manager for its Charleston, S.C. office, marking its twelfth recruitment so far this year.
RBC Wealth Management has recruited an advisor specializing in global high-net-worth clients with $2 million in production.
Benjamin Edwards is luring away talent from Wells Fargo, boosting its presence in the Midwest and New England.
A former Baird advisor won an arbitration case against his old employer, resulting in a FINRA arbitration panel awarding him $170,000 in damages for defamation.
Raymond James is recruiting the industry's top talent at the expense of the wirehouses.
Janney Montgomery Scott recruited a veteran Merrill Lynch advisor with $1 million in production.
The firm continues its recruiting bonanza with the addition of an advisor-team from Morgan Stanley with more than $1.3 million in production.
RBC Wealth Management is adding new names to its top executive team, announcing a new head of International Wealth-USA.
Raymond James has done it again. The firm has stolen away a Merrill Lynch advisor-team with $200 million in assets under management, marking its sixth major recruitment win in the past two weeks.
Raymond James appointed a new COO for its Private Client Group as well as a replacement North Atlantic regional director.
The firm grabbed a team with $2.5 million in production for its independent broker-dealer channel.
Raymond James is on a recruiting spree, poaching million-dollar teams from Merrill Lynch and Wells Fargo, and now grabbing a UBS team with $1.9 million in production for the company's Charlotte, N.C., office.
Raymond James enticed away an advisor with $2.2 million in production as well as several associates from Merrill Lynch for its Cincinnati office.
That makes for two big recruits in two days. A day after announcing the addition of a $1 million team from Wells Fargo, the firm has landed a second million-dollar team.
The firm has enticed away an advisor team with $1 million in production from Wells Fargo for its Bartlett, Ill., office.
With the advisor population aging and looking to retire, more wealth management firms are stepping up their efforts to recruit and train a new generation of advisors.
The company reports asset and revenue growth but "regrettable" advisor attrition.
The firm has landed an advisor team with $225 million in assets under management from Morgan Stanley.
RBC Wealth Management is expanding its presence in Texas. The Minneapolis-based broker-dealer has added six veteran financial advisors from Morgan Stanley to its office in Austin, Texas.
Ameriprise reported strong earnings boosted by robust growth from the firm's wealth management unit.
Raymond James & Associates' branch manager of the year has grown his complex's annual revenue to $32 million from $4 million and boosted client assets to $5 billion.
Raymond James Financial reported strong profits for the first quarter, with growth led by the companys asset management and private client group divisions.
Assets managed by dually registered advisors are growing faster than any other channel -- underscoring the industry's "slow but steady migration" toward independent models, according to new research from Cerulli.
Raymond James' Global Private Client Group CEO Chet Helck is retiring after a 25-year career with the firm.
FINRA alleges that the firms' advisors sold two types of highly risky ETFs that even they didn't understand.
Improvements will be slight and reserved for banks that are able to take advantage of a recovering economy and more consolidation.
Senior financial services executives said the industry needed to move more quickly to promote diversity and inclusion throughout the organization.
The answer rests not with the firms but with advisors themselves, says James Kerr, president of Davidson Companies.
As he oversees the growth of the Raymond James & Associate's private client group, Tash Elwyn talks about how he maintains the regional charm.
Edward Jones managing partner Jim Weddle discusses his strategies for bringing in new business at the firm.
The firms advice and wealth management division accounted for almost 40% of firm-wide profit.
Raymond James Financial, the brokerage that acquired Morgan Keegan & Co. from Regions Financial last year, posted a quarterly profit that rose 41 percent on a one-time tax benefit.
Morgan Stanley picked up two former UBS advisors with a combined $3 million in production.
The brokerage added five advisors from Wells Fargo and opened three offices.
The firm has added a Florida-based team with over $1 billion in client assets to its independent channel.
The board voted Thursday to adopt two attestation standards pertaining to audits of brokers and dealers, along with an auditing standard for broker-dealer audits.
Five former Merrill Lynch advisors with $900 million in assets have jumped to Janney in Connecticut.
Lincoln National, the insurer whose stock surged more than 60% this year, hired Ronald Holinsky from Janney Montgomery Scott to be chief compliance officer as the industry faces increased regulatory scrutiny.
Raymond James continues to emphasize expansion along the West Coast with the addition of a former Morgan Stanley manager who will open a new office in San Diego.
Umpqua Holdings' agreement to buy Sterling Financial is the latest in a series of deals this year to pair similarly sized banks, creating a new crop of midsize financial institutions.
A 43% increase in assets under management helped the brokerage unit net a profit after spending 2012 in the red.
Brokers face restrictions on using clients assets as collateral for other trades, as part of a push by global regulators to prevent the securities lending market from sparking chain reactions that could cause a crisis.
A three hour pause in trading is not going to be that big of a deal for investors, Stifels chairman and CEO Ron Kruszewski says.
Stifel Financial, the brokerage that bought boutique investment bank KBW Inc., said its closing its Canadian operations.
Raymond James has created a new position that will oversee practice management development and education for the private client group.
Baird has brought on four advisors with $330 million in assets.
Wedbush has expanded its Southern California presence with a 40-year industry veteran.
D.A. Davidsons Chairman and CEO Bill Johnstone discusses the growing importance of scale for smaller, regional broker-dealers.
Read more: D.A. Davidson and Crowell Weedon Close on Merger
The two firms signed off on a deal that creates one of the largest regional brokerages on the West Coast by headcount.
The firm has added an 18-year industry veteran to its Greenville, Del., branch office as a vice president of wealth management.
Wedbush has brought on the former president of First Washington amid questions over his supervision of a former employee.
Brokers who hold investors assets will have to file quarterly reports attesting to compliance with measures toprotect customer money and securities under rules adopted by the U.S. Securities and Exchange Commission.
Mike Boosel of Baird turned a part-time teaching gig, helping seniors learn about retirement planning, into a lucrative source of clients.
Ameriprises wealth management earnings rose 37% as its fee-based businesses continued to drive up results in 2Q.
Ameriprise Financial has hired three financial advisors from UBS, Raymond James Morgan Keegan, and HSBC.
With a new branch manager, the St. Petersburg, Fla.-based firm forays into an increasingly competitive Seattle market.
In an effort to expand its presence in northern New Jersey, RBC Wealth Management has added the Levy Tebeleff Group, formerly of Morgan Stanley, to its Parsippany office.
Michael Brannam and Patrick Brannam will join the firms Jacksonville, Fla., branch, where they will be equal partners of Brannan Wealth Management of Raymond James.
Baird has been on a hiring spree in an attempt to bolster the retirement planning services it offers to oil and gas industry professionals in Texas.
A Philadelphia district court handed down a $100,000 fine and six-month prison sentence for allegedly unlawful trades.
A trio of advisors from Wells Fargo, RBC and Morgan Stanley have joined Stifel.
Just days after luring another Morgan Stanley advisor, Stifel announced the hiring of longtime Morgan Stanley veteran Richard Linnihan.
Wedbush picked up a legacy Morgan Keegan advisor in Texas.
The companies announced an agreement to merge Acacia into Stifel Bank and Trust, the investment bank and brokerage's $3.9 billion-asset bank. The terms were not disclosed.
Once lost, a reputation is hard to regain, and its costing financial services companies hundreds of millions in sales.
Stifel has picked up a former Morgan Stanley advisor who oversaw $374 million in assets.
Benjamin Edwards has added offices in Canton, Ohio and Abilene, Kansas., growing the firm to 33 branches in 17 states.
Janney has hired Neil McCauley from Wells Fargo with $98 million in assets under management.
Financial institutions should develop distinct service offerings for young investors that speak to them at their life stage.
Raymond James announced Wednesday it hired Claire Friedrichs as first vice president of investments.
The San Francisco-based regional bank says it plans to add as many as 100 people to the team over the next two years.
Less than a week after landing another Morgan Stanley advisor, Raymond James has lured a Midwestern group with over $240 million in assets under management from Morgan Stanley to its independent-broker dealer.
Eight former directors overseeing mutual funds for Morgan Keegan & Co. settled, without paying any penalties, U.S. regulatory claims that they allowed assets backed by subprime mortgages to be overvalued as the housing market collapsed in 2007.
Royal Bank of Canada, the countrys largest lender by assets, will consider acquisitions of as much as $4.9 billion as it seeks to expand its wealth- management unit, Chief Financial Officer Janice Fukakusa said.
A $1 million producer has jumped from Morgan Stanley to Raymond James in Columbus, Ga.
Janney continues to emphasize its focus on the Southeast with the addition of two former Stephens advisors in Columbia, S.C.
Hilliard Lyons continues growth in North Carolina with the addition of two former UBS advisors.
Sean E. Ekiert has joined Raymond James as a managing director in Richmond, Va.
Stifel nabbed two UBS advisors and opened a new office in Tampa, Fla.
The firm appointed Alynn Eubanks, who will be responsible for overseeing the advisory platforms.
Janney has expanded its operations in Washington, D.C. with a two-man team overseeing $142 million in assets.
Royal Bank of Canada was ordered to pay more than $800,000 to a U.S. couple over their losses on investments including Lehman Brothers Holdings Inc. preferred stock.
As selling stocks gets tougher, the number of brokers has dropped 12 percent since 2008 to about 363,000 last year. Edward Jones is finding success by sticking to its old ways.
Royal Bank of Canada said second-quarter profit rose 26% as acquisitions fueled returns.
The firm picked up a 32-year industry veteran in Rochester, N.Y.
Baird has snapped up an advisor with $200 million in AUM from William Blair, an employee-owned brokerage in Chicago.
Wells Fargo added a former Edward Jones advisor in Hudson, Ohio.
RBC Wealth Management picked up a former Morgan Stanley broker with $65 million in assets.
Janney has picked up a former Morgan Stanley duo with over $1.5 million in production.
Sallie Krawcheck, the former senior executive at Bank of America Corp. and Citigroup Inc., agreed to buy 85 Broads, the global network with 30,000 members that promotes women as business leaders.
Baird has bolstered its advisor force with two wirehouse teams with $800 million in assets.
The Securities America move underscored the intensity with which advisory firms are competing for talent, executive search experts said.
Two former branch managers at Raymond James have moved to Stifel and LPL in Austin, Texas.
The St. Louis-based firm, which now has 30 offices, opened its third Florida location with an office in Destin and made inroads into Alabama with a new branch in Birmingham. It also added an advisor to its White Plains, N.Y., and Chattanooga, Tenn., location.
Credit Suisse Group AG sued its former vice president of emerging markets, Agostina Pechi, over claims she stole the banks trade secrets in a bid to win clients for her new employer, Goldman Sachs Group Inc.
The Louisville, Ky., firm picked up two advisors with a total of $200 million in assets.
The combination will create one of the largest regional brokerages on the West coast.
The firm has reorganized its branch leadership with two promotions and a new hire from Morgan Stanley.
Ameriprise tapped the four wirehouses and LPL in its latest round of recruiting.
The firm raised its annual compensation for top executives citing strong company and wealth management performance.
Clients are mad as hell and they're not going to take it anymore
unless the industry makes some changes, Stifels top executive told a major industry conference on Thursday.
Financial services firms and advisors are relying on new technology and enhanced training to to take a more holistic financial planning approach with clients.
Revenue and assets increased year-over-year as the firm began to streamline operations after the Morgan Keegan integration in February.
An arbitration panel has ordered Wells Fargo to pay Stifel $800,000 in the latest dispute over alleged raiding of former A.G. Edwards advisors.
The unit added about $3 billion in fee-based assets over the past few years, with sales going up about 74%.
Stifel has snapped up 11 former Wells Fargo advisors with more than $1 billion in assets.