Andrew Welsch

Ron Kruszewski talks with On Wall Street about Stifel’s recent acquisitions and why there has been some advisor attrition at Barclays' U.S. brokerage unit ahead of its acquisition by Stifel.

J.P. Morgan recruited a veteran advisor from Credit Suisse, which recently struck an exclusive recruiting deal allowing Wells Fargo to pick up the Swiss firm's U.S. advisors.

Edward Jones and four other firms were sanctioned by FINRA for overcharging some clients on mutual fund sales.

Tash Elwyn, the president of Raymond James & Associates, says the path to success lies in recognizing that "every advisor is unique, every client is unique and the delivery of advice should be unique."

The wirehouse said it recruited four advisors from rivals Merrill Lynch and Wells Fargo.

The super regional may have an opportunity to significantly boost its presence in key markets by adding the boutique – but at a cost of up to $900 million, one analyst says.

Secretary of Labor Thomas Perez said staff members have industry experience, in response to recent criticism, and emphasized that the department has been actively engaging and listening to critics as well as supporters of its proposed fiduciary rule.

The wirehouse is sending executives to Credit Suisse offices to deliver the firm's pitch, and will fly advisors out to its headquarters in St. Louis next week.

Chief Executive Paul Reilly acknowledged that the firm has been exploring potential acquisitions, but declined to discuss specific targets with analysts during an earnings call.

The firm's wealth management unit reported that growth in client assets was flat year-over-year, and declined $20 billion from the previous quarter to fall to $433 billion.

Jim Weddle, head of Edward Jones, says his firm won't develop a robo advisor, but adds that competitive pressures are pushing the entire industry to up its digital game.

The wirehouse pulled over four advisors from rivals Merrill Lynch and Morgan Stanley.

Four advisors left the wirehouse to join regional broker-dealer Benjamin F. Edwards.

The firm said wealth management profits rose to $509 million for the third quarter, boosted by lower compensation expenses.

An advisor who had been at Merrill Lynch for 20 years left the wirehouse to join UBS.

Barclays lost a team to RBC, the latest defection since the British-owned firm agreed to sell its brokerage unit to Stifel. This is the first to go to a regional brokerage instead of a wirehouse or high-profile boutique.

The chief executive of the self-regulatory organization urges against duplicating regulatory efforts, and adds that big data will soon define how regulators operate.

Jim Weddle, managing partner of Edward Jones, says the firm hasn't been finding as many quality recruits as it would like.

Wells Fargo reported that even as profits rose, client assets for the firm's retail brokerage unit shrank 4% year-over-year.

Bank of America said profits for its wealth management unit, which includes Merrill Lynch, fell 19% year-over-year. Meanwhile, Merrill's advisor force increased 6%.