Andrew Welsch

The move is the latest in a series of departures from the wirehouses to smaller independent firms.

The company also said that its advisor ranks are growing.

Seasoned veterans are concerned there won't be capable successors to take over their books of business, insiders say.

The move continues the wirehouse's transformation under Tom Naratil, president of UBS Wealth Management Americas.

The company's broker headcount declined slightly, but it remains the largest wirehouse by number of advisors.

The 11,000-member organization will operate as the Investments & Wealth Institute.

The father of the $141 million team worked for Raymond James for 12 years.

Reps recommended complex investments without restrictions, the regulator said.

The firm's advisor ranks increased slightly during the third quarter, ending three consecutive periods of decline.

It's a bigger challenge to keep pace with a fast changing industry, CEO Robert Cook said.

The asset management giant is staking a big claim on the advisor desktop, according to one analyst.

The wirehouse picked up two veteran advisors, each with more than 20 years of industry experience.

Board executives say the value of the CFP designation has grown. They also nod to more potential changes in the conduct standards.

No one organization can do it on its own, FPA President Shannon Pike said.

It's a draining process for clients, but financial planners can provide real support.

Evelyn Zohlen wants to build on the association's initiatives — including helping next gen planners find career paths.

When experienced advisors mentor new planners, they transform the profession in the process.

The new hires join the wirehouse from rivals Morgan Stanley and Merrill Lynch.

The storm devastated Puerto Rico, which has seen a surge of client complaints.

"This is a window for these regional firms to really explode," says Rob Blevins, a recruiter in Dublin, Ohio.