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.
After a strong end to 2012, the firms wealth management division continues to push ahead in 2013.
Edward Jones uses questionable telemarketing tactics to recruit customers, according to New Hampshire regulators.
RBC Wealth Management added a branch manager with three decades of experience to its Denver Tech office.
After the successful completion of the Morgan Keegan technology integration, the firm is eliminating 160 positions due to overlap in the information technology segment.
The appointment should help enhance equities research offerings for the Private Client Group, the firm said.
Cetera Financial Group is growing again.
The broker-dealer network has signed a definitive agreement to acquire Tower Square Securities and Walnut Street Securities from MetLife.
Expanding its New England presence, the firm added a three-decade industry veteran in Connecticut.
RBC Wealth Management has strengthened its presence in Pittsburgh with the addition of five advisors with $2.8 million in combined production.
Eight former Morgan Keegan & Co. mutual-fund directors agreed to settle U.S. regulatory claims that they allowed assets backed by subprime mortgages to be overvalued as the housing market collapsed in 2007.
The firm has won over a $300 million team from UBS and its 10th recruit so far this year.
This latest addition follows RBCs hiring of four Morgan Stanley advisors to the new San Diego office in November.
Despite a rally in the equity markets, February proved to be a lackluster month for Raymond James Financial.
Strong recruitment and help from the markets took the firm to new heights.
Scott Curtis, president of Raymond James Financial Services, describes the new model and how it fits into the firm's plans for growth.
The firm continues to expand its presence in Florida with the addition of a second Wells Fargo broker.
Other advisory services executives may be targeting advisor growth -- but Raymond James Financial Services president Scott Curtis thinks differently about expansion.
As baby boomers demands change, the industry needs to take a more holistic approach, according to the president of the Ameriprise Personal Advisors Group.
The St. Louis firm snapped up a former Morgan Stanley advisor with $114 million in assets.
Mitch Cox, head of wealth management in the Americas at Barclays, has left his position to pursue other interests, a spokesperson for the firm confirmed.
The firm has promoted Vin Campagnoli to chief information officer as it looks to continue expanding its platforms.
A new North Carolina office helps spur the firms push into Southeastern markets.
Five advisors with a combined $500 million in assets have joined Baird from Morgan Stanley and Wells Fargo.
Almost a year after Raymond James purchased Morgan Keegan, the integration has passed its last major milestone, which means the end of the venerable Morgan Keegan brand. The final integration will make Raymond James one of the largest brokerage firms behind the four wirehouses with almost 6,300 advisors in its brokerage, roughly 900 of whom come from Morgan Keegan.
Merrill Lynch Wealth Management has lured five advisors with $619 million in assets and about $2.9 million in production in its latest move in the hunt for advisory talent.
This years top three regional advisors have risen through the ranks through a combination of ambition and diligence. Check out who made the list and what has inspired them.
The regional firm expanded its presence in North Carolina with a new office and a $165 million team from Merrill Lynch.
Raymond James Financial plans to drop Morgan Keegan from the name of its fixed income arm later this month.
Two former Wells Fargo advisors have joined Baird to help open a new office Merritt Island, Fla.
The firm added six advisors and opened a new office in Melbourne, Fla.
The boutique wealth management firm has nabbed three advisors with over $400 million in client AUM.
Since its last major recruiting announcement in November, the firm has extended the reach of its boutique operation with a new office in Beverly Hills, Calif., and a number of new hires in key metropolitan areas nationally.
The firm continues to move past some of the drags on its revenue including a cease and desist order at the banking subsidiary and some challenging economic and recruiting conditions
The firm is revving up its recruiting efforts as it eyes a growing market.
The firm has picked up a 26-year industry veteran to help grow its practice in Florida.
The Naples office of The Private Client Reserve is expanding its services, adding new advisors and relocating to a larger office space in the upscale neighborhood of Mercato.
Stifel Financial Corp. Chief Executive Officer Ron Kruszewski paused in mid-sentence and asked an employee for the list, a chart showing in red which of the St. Louis-based firms rivals have closed or sold out...
In the fourth quarter, fees and commissions from trust services generated $22.0 million, a 23% increase from $17.9 million a year earlier.
For RBC Wealth advisor Samir Murty, number 15 on the Top 40 Under 40 list, providing personal advice requires both an understanding of the numbers and effective communication.
The firm has recruited two large wirehouse teams to open a new office in Stuart, Fla.
Revenue and earnings rose for the year as the firm reported solid growth in its wealth division.
The bank has been investing heavily in the wealth management business in terms of hiring and training staff as well as new technology.
The advisor population is stagnant and aging; older advisors may not relish the hassles of a moving to a new firm. Meanwhile, barriers to entry for new financial advisors remain highless than 15% of trainees succeed in establishing a viable business.
Less than a week after announcing that it had nabbed a trio of Morgan Stanley advisors in Pennsylvania, Raymond James has added another Morgan Stanley team with more than $700,000 in production.
Three industry veterans with nearly a million in production have jumped from Morgan Stanley to Raymond James in Newtown, Pa.
Revenue and net income rose slightly from last quarter as the Morgan Keegan integration progressed.
A former Edward Jones advisor has jumped to Hilliard Lyons in Paducah, Kent.
In the fourth quarter of 2012, wealth and investment services earned $7.8 million in non-interest income for the bank, a 36% jump from a year earlier and 9% increase from the previous quarter.
U.S. Bancorps wealth management and securities services business contributed $41 million to the banks bottom line in the fourth quarter of 2012, down $2 million, or 4.7%, from the previous quarter, but unchanged from the same quarter a year earlier.
This is the first significant change to our grid during my almost 20 year tenure at Raymond James, Tash Elwyn, president of the firms Private Client Group, said. With this new grid we have achieved our goal of continuing to offer a very competitive payout within an environment and culture at Raymond James thats unique in that we treat our advisors with respect.
One new aspect about the platform is that it incorporates a unified managed account structure.
Two former Scott & Stringfellow advisors with $175 million in assets have moved to Hilliard Lyons.
Financial advisor Andrew Ryan of Deutsche, who lands at number 28 on this years list, says that anticipating volatility while working with his venture capital and private equity clients has been imperative in recent years.
A former director of branch business development at Janney Montgomery Scott has moved to City Securities Corporation.
RBC has added a group of five former Morgan Stanley advisors with $758 million in combined assets under management.
The firm has brought on three legacy A.G. Edwards advisors from Wells Fargo to open its 27th office.
Senate Minority Leader Mitch McConnell said lawmakers in Congress are very, very close to a deal to avert $600 billion in tax increases and spending cuts set to start at midnight.
Small and mid-sized firms look to maintain momentum from 2012 by offering more services and leveraging social media.
My number one objective is to grow revenues from the private bank and help to make it an even greater contributor to the growth of Webster Bank, said Daniel FitzPatrick, the new head of the business.
Barclays has brought on directors in New York and San Francisco.
Three industry veterans with 80 years combined experience have joined Raymond James in Fort Lauderdale, Fla.
Many Americans are in the dark about stock market performance in 2012, according to an Edward Jones survey.
The Securities and Exchange Commission has initiated cease-and-desist proceedings against the former board members of five registered investment firms, alleging that they failed to maintain appropriate fair-market valuations of debt securities that comprised a substantial portion of the companies' portfolio.
Baird's director of estate planning reminds clients that just because they can make large tax-free gifts this year, doesnt mean they should.
Royal Bank of Canada, the first Canadian lender to report fourth-quarter results, said profit rose 22 percent on higher trading and investment-banking fees, beating analysts estimates.
Treasury Secretary Timothy Geithner offered Republican House Speaker John Boehner a proposal to avert an end-of-the-year fiscal cliff that would trade $1.6 trillion in tax increases for $400 billion in unspecified entitlement program cuts, a Republican aide said.
An industry veteran with over three decades of experience, John Dorsey will open a new branch office in W.V.
Long-time advisors Bill Duncan and Ziv Ohel joined Ameriprise in Deerfield, Ill.
Morgan Keegan & Co. is going to trial before a judge whose decision to throw out regulators claims the retail brokerage misled thousands of investors about the risks of auction-rate securities was reversed on appeal.
Robert W. Baird & Co. has hired veteran financial advisor Baron C. Becker from Morgan Stanley Wealth Management in Portland, Maine.
Wells Fargo has extended its summer hiring spree with 24 new financial advisor hires managing a total of $2.2 billion in assets.
The firm has added a team with over $500 million in production to its southern California offices.
A career advisor with three-and-a-half decades of experience, Karl Rothermund has left Morgan Stanley for Raymond James in Scottsdale, Ariz.
The firm has hired Harold Langer, a three-decade industry veteran, to be senior vice president at the Tucson branch.
After a $1.9 million loss in the fourth quarter, Southwest Securities' retail group reeled in a $319,000 profit for the first quarter of its fiscal year.
Industry veteran Nicolas Seigal joins RBCs international wealth unit as branch manager in Miami.
Net income in Stifels wealth management division rose almost a quarter from last year as the firm announced it had purchased KBW for $575 million.
The new hires join eight of Barclays offices in the U.S. from firms including Bank of America Merrill Lynch, Credit Suisse, J.P. Morgan Private Bank, Morgan Stanley Wealth Management, SunTrust Investment Services and UBS Financial Services.
HighTower has gotten a big boost by working with independents. Can it keep up the momentum?
The firm has focused on making sure that its advisors in impacted areas are able to continue functioning normally.
As Hurricane Sandy moves in on the Northeast, firms such as Philadelphia-based Janney Montgomery Scott implement contingency plans to help advisors and clients.
Two investment teams from Merrill Lyncch have joined RBC's Leadwood, Kan., office.
Picked up in a renewed focus on recruiting, Mark Teed joins Raymond James in Massachusetts.
A three-decade industry vet, David Upin, joins as senior vice president in Minneapolis.
At Raymond James, costs from the Morgan Keegan integration caused profits to decline in the fourth quarter.
Although profits fell firm-wide, Ameriprise Financials Advice and Wealth Management segment posted a number of improvements across the board in the third quarter.
Morgan Keegan & Co., the brokerage firm acquired by Raymond James Financial Inc., was ordered by a federal appeals court to pay a group of 18 investors a $9.2 million arbitration award.
Almost one in two consumers (47%) say they keep the majority of their assets with banks, up from 44% in 2011. Self-directed firms and full-service brokers, in contrast, had only 28% and 15% of the market, respectively.
Orions accounting and performance review software provides SWS advisors with performance dashboard.
Raymond James Executive Chairman Thomas James said he is optimistic that the financial services industry can work more closely with regulators, even as evolving regulations such as a uniform fiduciary standard and the Volcker Rule have started off with the wrong approach.
With 30 years industry experience, Robert Bernardin joins Hilliard Lyons as a senior vice president in Indiana.
Janney Montgomery Scott recruited a 12-person team led by Kevin Roche and Jeff Miller to help expand its structured product offerings.
Royal Bank of Canada will probably miss its 2015 target of C$2 billion ($2 billion) in annual earnings from asset management because of low interest rates, executive George Lewis said.
The regional bank plans to substantially strengthen its western footprint with new advisors in Oregon, Washington, California and Nevada.
Janneys 32nd hire in their private client group this year, George Keith will be complex manager in Darien, Conn.
Seven advisors have joined Bairds wealth management group in Texas, Maryland and Nebraska in a late summer round of recruiting.
Southwest Securities has hired J.C. Graham as part of its latest recruitment campaign.
As Raymond James Financial Chief Executive Paul Reilly looks to the future, he sees more diversity in the firms workforce, particularly when it comes to female and younger financial advisors.
Raymond James acquisition of Morgan Keegan this year has injected an unprecedented number of new financial advisors into the firms ranks, while it continues to see interest from high profile prospective recruits from rival wealth management firms, according to Dennis Zank, chief operating officer at Raymond James.
A four-man team, the Nierling Investment Group, has joined RBC in Dallas, Texas.
Scott & Stringfellow has brought on three former Wells Fargo advisors to join its Charlotte office.
RBC has pulled an industry veteran from UBS to fill the position of branch director of its Burlington offices.
Fed up with changes in infrastructure, two veterans with more than two decades at Morgan Stanley move to Ameriprise.
RBC Wealth Management has snapped up a three-member wealth management team from Merrill Lynch in Colorado.
The firm has shuffled leadership in the Southeast to accommodate a new regional manager and additional recruits.
Following an annual review, the Minneapolis, Minn.-based firm is rolling out several changes in its payout structure as it moves away from a deferred compensation contribution model.
For planners who specialize in assisting members of the military, the job often feels like a calling.
To attract clients, brokerage firms should be offering a mix of in-person as well as online, self-directed investing and retirement planning options, according to a recent report by Aite group.
As part of a study into conflicts of interest at broker-dealers, regulators concluded that confidential information should be better protected.
JHS Capital Advisors opens a new office with Mark Hennings as Branch Manager and advisor
After the shock of 2008, investors had a generally sunny outlook: they were satisfied with their portfolios and their advisors and the firms that employed them. But that is no longer the case.
The firm has poached two industry veterans from HSBC and Barclays as it looks to expand.
Scott & Stringfellow is looking to leverage its role as the brokerage for BB&T to help build out new offices in Florida and Maryland.
The firm's recent hire of Tina Huyler from Morgan Stanley Smith Barney marks one of the first in a long-term effort to aggressively increase its advisor headcount.
The firm has expanded its Denver office with the addition of industry veteran Tina Huyler.
Robert W. Baird & Co. has hired R. Parker Griffith from Morgan Stanley Smith Barney to manage its Nashville wealth management office and serve as financial advisor.
Deutsche Bank has unveiled a new executive committee for its newly formed Asset & Wealth Management division, with division head Michele Faissola serving as chairman.
With all the economic uncertainty many clients may be dissatisfied and primed for switching to advisors who can relate to them on a personal level.
RBC's American wealth management unit is pushing ahead with a stronger emphasis on fee-based business, an increased focus on ultra-wealthy clients and a more aggressive campaign for its brand, according to George Lewis, group head of RBC Global Wealth Management.
A group of family trusts has lost a $7.56 million arbitration claim that highlights the difficulties of winning individual claims tied to various Morgan Keegan funds that have fallen under regulatory scrutiny.
Looking to bolster its wealth management division, the bank has tapped Steve Sokic to lead the ultra-high net worth, trust, fiduciary and tax divisions.
A spate of new hires from Wells Fargo accompanies the opening of Benjamin Edward's 26th office in Northfield, N.J.
The Kentucky-based firm has hired a former Merrill Lynch advisor with $29 million in AUM.
Despite a tough third quarter, RBC Wealth Management is doubling down and investing in an ambitious growth strategy as it looks to come out ahead post-crisis.
Robert Ceccarelli and John Hursh collectively manage more than $148 million in assets and produce nearly $1 million in revenue. They will join Ameriprise's employee advisor channel and be located in the New Haven, Conn.
After a decline in advisor headcount and legal expenses hurt revenue, the firm continues to invest in efforts to expand its retail brokerage unit.
The Robinson Reuter Group brings $250 million in assets under management to RBC's La Jolla, Calif., office.
Barclays Plc recruited a team for its wealth and investment management division from Morgan Stanley Smith Barney that includes former New York Jets wide receiver Wayne Chrebet.
Benjamin F. Edwards has opened a new Kansas office staffed with four former Wells Fargo advisors.
Programs to strengthen bank liquidity, facilitate credit and buy mortgages were good moves, though it is hard to say how much worse things would have been in their absence, Federal Reserve Board Chairman Ben Bernanke said at the Jackson Hole summit.
After founding his own financial planning practice in 1983, Thomas Morrison has rolled up his firm, Morrison Financial Services, this year and joined St. Louis-based Benjamin F. Edwards as vice president-investments.
Despite record income for the whole company, RBC's wealth management division reported a significant drop in revenue and net income.