Ashley Lau

UBS Americas Wealth Management said it hired at least 14 veteran Merrill Lynch brokers who in total managed more than $2 billion in client assets at Merrill.

Merrill Lynch agreed to pay a $1 million fine for failing to arbitrate disputes with employees about retention bonuses related to its 2009 merger with Bank of America Corp., the Financial Industry Regulatory Authority said.

Independent brokerage LPL Financial has hired eight new advisors who manage about $200 million in client assets in Massachusetts.

Focus Financial Partners LLC, a firm that has grown by acquiring independent advisor teams across the United States, has hired a former Fidelity Investments director to help advisors transition as it looks to cull more top talent from the nation's biggest brokerages.