Andrew Welsch

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%.

Santander is the latest firm to get hit with regulatory penalties related to the sale of Puerto Rican municipal bonds and close-end funds.

An ex-wirehouse advisor sought damages for libel and other misconduct against Merrill.

Credit Suisse's losses include a three-member team that generated $7.2 million in annual revenue, which joined UBS.

Morgan Stanley's move to push more cases to an arbitration system of its choosing tilts the playing field against advisors and curtails their rights, opponents say.

A retired couple alleges their advisor lost millions through negligence and misrepresentation of certain securities, but the firm says that the clients were sophisticated self-directed investors.

The team made the move in part to be able to grow in new directions, says senior financial advisor Tommy Boyd.

With one-third of advisors expected to leave the industry in the next ten years, young advisors see an opportunity to pick up another book of business. But at what price?

The now-independent advisor sought damages against his former employer for wrongful termination and defamation, and also asked his record to be expunged.

The team left the wirehouse to form their own independent firm, representing one of the largest groups that Dynasty has helped go independent.

Only about one-third of CFPs say their clients are even somewhat knowledgeable about claiming Social Security benefits, according to a new join study from the FPA and AARP.