Andrew Welsch

An advisor's move to HighTower sheds light on an issue that bedevils those making the transition: Whether to risk losing partners -- and possibly clients.

The recruit oversaw $160 million in client assets while at Merrill, according to a UBS spokesman.

Advisors see buying opportunities, but recent volatility has left clients hesitant to up allocations.

The wealth management industry has long been characterized by a lack of diversity. After the success of Raymond James' Women Advisors Network, though, a group of advisors and branch managers at the firm has launched a Black Financial Advisors Network.

Better technology, cultural differences and bigger deals have enabled regional firms to recruit more competitively and keep up the momentum.

CEOs, when questioned in recent earnings calls, offered first impressions of the impacts the proposal may have on the industry.

The company's Private Client Group reported a 2% decline in quarterly profits as the firm continued to ramp up its advisor recruiting.

The firm's wealth management division also reported that pretax operating earnings rose 16% from a year ago.

Three advisors left the wirehouse to join the independent brokerage network at Wells Fargo.

The move marks HighTower's fifth recruiting grab this year, totaling about $2 billion in client assets.

Total client assets for the wirehouse also rose to a record $2.047 trillion, edging it into the no. 1 spot past rival Merrill Lynch.

Three wirehouse advisors joined RBC to open a new branch office.

An arbitration panel granted the wirehouse's request for damages for breach of contract, but the award fell short of the original $1.4 million the firm sought.

The firm picked up three recruits from the wirehouse and New York brokerage.

The regional broker-dealer reported profits of $135 million for the past year, up 15% year-over-year.

Advocates for a new, stricter standard say momentum is on their side, while opponents argue that the rule-making process is too hasty.

The much-anticipated DoL proposal extends a fiduciary standard to thousands of brokers and advisors providing investment advice on retirement accounts without barring certain types of compensation. But details on enforcement are still forthcoming.

The wirehouse reported that wealth management first quarter profits soared 18% year-over-year.

The wirehouse recruited three advisors from rivals Merrill Lynch and UBS.

A Charles Schwab advisor left the firm where he managed about $350 million in client assets, according to a firm spokesman.