Steward Partners Pulls In $1.6M Wells Fargo Team
A Wells Fargo advisor team that managed $200 million in assets has left to join Steward Partners, an independent firm founded a year ago by former wirehouse managers.
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Latest Morgan Stanley advisor additions around the country bring a combined $565M in AUM and over $3M in revenue. more »
Merrill Lynch grows its Chicago presence by hiring UBS team with $500M in AUM and nearly $5M in revenue. more »
Expanding its advisor ranks, small broker-dealer Jefferies announced the hire of a rio of Barclays veterans that bring a focus on REITs and MLPs. more »
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. more »
Agency secures $4 billion in penalties; expert says: “make sure that you have a robust and dynamic compliance program.” more »
Morgan Stanley Wealth Management saw profits jump 17% for the 3rd quarter, despite a 1% drop in the firm's advisor workforce. more »
Stifel Financial brings in a veteran Morgan Stanley advisor for a newly created client office in West Chester, Pa. more »
The SEC plans an enforcement action against a former Wells Fargo compliance officer for altering report. more »
Bank of America said wealth management profits were up 13% year-over-year and reported an increase in its advisor ranks. The company reported that profits for its Global Wealth & Investment Management division, or GWIM, which includes Merrill Lynch and U.S. Trust, increased to $813 million for the third quarter from $720 million a year ago. … more »
Assets under management among SEC-registered advisors increased 12.6% in 2014 to $61.7 trillion in April, according to an industry report. more »
Wealth management advisory work has evolved from the retail brokerage days of the 1980s, when advisors were considered salespeople. more »
Wells Fargo said that third quarter net income for its wealth management division rose 22% year-over-year. more »
A Morgan Stanley advisor duo with $213 million in AUM has left the wirehouse to join RBC Wealth Management. more »
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