Andrew Welsch

The wirehouse, which is embracing the new regulation, is the first to unveil its strategy in depth.

The new recruits join from RBC and Wells Fargo Advisors.

The long-serving executive will step down Jan. 1.

A firm contest incentivized about 30 advisers to push lending products to clients and created conflicts of interest, according to officials.

The firm's newest recruits have been in the business for two decades.

Mounting regulatory pressure will push firms to decrease the number of products available due to compliance risks, Cerulli Associates says in a new report.

As rules pile up, industry leaders are looking for ways to help advisers navigate what they say has become a regulatory labyrinth.

Mary Jo White also said that the commission lacks sufficient resources to provide oversight of investment advisers.

The new recruit has been in the industry for nearly 3 decades.

The wirehouse's newest recruits operate from two offices on both coasts.