Andrew Welsch

Executives say it's about more than just robos.

The wirehouse has faced a difficult business environment so far this year, and additional headwinds may be coming during the second half of 2016, top executives say.

With more than 15,000 advisers overseeing $1.4 trillion, the wirehouse would be one of the largest entrants into the digital advice space.

The recruit is joining an existing practice, boosting the team's assets to $1 billion, according to the firm.

Profits rose 8% year-over-year at the bank's Global Wealth & Investment Management unit, which includes Merrill Lynch and U.S. Trust.

Two advisers joined Confluence Financial Partners, which is affiliated with Raymond James.

The bill was for 220 hours of attorney's work, which the judge called "excessive on its face" for a case that included no oral arguments.

A search is underway to replace Mary Mack, who will transition to a different unit.

Recent market volatility has pitted advisers against clients over whether events such as Brexit represent a buying opportunity.