Andrew Welsch

The firm suffered another arbitration loss this week to clients seeking damages related to the firm's closed-end funds of Puerto Rico municipal bonds.

The wirehouse's latest hires include two advisors who generated $5 million in annual revenue while at Citi Private Bank, a firm spokeswoman said.

Two veteran advisors left the wirehouse to form an independent firm with help from Dynasty Financial Partners.

Four veteran advisors joined UBS from Morgan Stanley where they generated $5.6 million in annual revenue, according to a UBS spokesman.

Two former advisors allege they were punished and eventually fired for reporting misconduct including trainees and interns entering trades as well as misleading clients during cold calls.

The giant asset management company said it was acquiring robo advisor FutureAdvisor.

Advisors reported that client allocations changed little in July, but worries about economic troubles were mushrooming, according to a recent survey.

Focus Financial Partners' Chris Dupuy, a former Merrill Lynch executive, talks recruiting, breakaways and why he tells some advisors that independence isn't for them.

Planners worry about client fatigue if the downdraft drags on.

The Wall Street regulator hit Charles Schwab with the penalty for net capital deficiencies and supervisory failures.

Recruits who generated $4.5 million make the move between wirehouses.

The advisors left UBS and Huntington Investment for the Wells Fargo Advisors Financial Network.

Fiduciary advocates question the math behind the opponents' estimate, calling it an "Alice in Wonderland report" without backing.

The Swiss-owned wirehouse said it recruited three Morgan Stanley advisors who generated more than $3 million in annual revenue.

The regional brokerage lured away three recruits from rivals Wells Fargo and Raymond James.

The new recruits joined the firm's employee and independent channels.

"When you put this in the context of rule changes that have occurred since the financial crisis, this would rank at the top," notes James Allen, CEO of Hilliard Lyons.

"You're getting them through one of the worst things in their life, whether they wanted the divorce or not," says advisor Charles Day.

The wirehouse recruited a Morgan Stanley team that generated $10 million in annual revenue.

The wirehouse collects for breach of a promissory note.