Lorie Konish

Deutsche Bank has unveiled a new executive committee for its newly formed Asset & Wealth Management division, with division head Michele Faissola serving as chairman.

J. Kevin Stophel has moved on after 13 years with the firm to establish an independent wealth practice partnered with Concert Advisor Services and Concert Wealth Management Inc.

A group of family trusts has lost a $7.56 million arbitration claim that highlights the difficulties of winning individual claims tied to various Morgan Keegan funds that have fallen under regulatory scrutiny.

While actions by the U.S. Federal Reserve could hold promising results, international monetary policy announcements have held less and less power this year, according to a new economic and market outlook update from Deutsche Bank Private Wealth Management.

Wells Fargo Advisors has tapped an executive from Citigroup and two of its existing leaders to serve in new senior leadership roles.

President Obama will likely win a second presidential term in November, but the election's outcome for policy and investing will likely not be as decisive, according to a research report released Wednesday by UBS Wealth Management Americas.

Wells Fargo Advisors has extended its summer hiring spree with the addition of two Morgan Stanley Smith Barney advisors with $127 million in client assets under management.

Morgan Stanley and Citigroup have agreed to a $13.5 billion valuation of Smith Barney that clears the way for Morgan Stanley to complete its acquisition of the brokerage business by June 2015.

Following news that Merrill Lynch Wealth Management lost several advisor teams to rivals this week, the firm is pushing back with three advisor hires of its own from competing wirehouse firms.

Morgan Stanley and Citigroup have pushed the deadline for determining the fair market value of their Morgan Stanley Smith Barney joint venture to Sept. 10 as they wait for an independent appraisal to help reconcile their opposing values of the business

Merrill Lynch Wealth Management has snapped up three UBS financial advisors with more than $323.2 million in client assets under management.

Even as Merrill Lynch moved to a $40 million settlement in response to a class action lawsuit this week, some experts ask whether it will be enough to satisfy some several thousand advisors who left the firm following its acquisition by Bank of America.

Merrill Lynch formally agreed to a $40 million settlement to a class action lawsuit brought by two of its former advisors regarding their deferred compensation on Friday, a decision that will potentially impact more than a thousand advisors with production levels of $500,000 and less.

Merrill Lynch is expected to head into a New York court Friday and hammer out a settlement that could potentially affect the deferred compensation of thousands of financial advisors that have left the firm since its 2008 combination with Bank of America.

Even as market uncertainty persists, employees using Bank of America Merrill Lynch's automatic 401(k) savings plans are showing they want to stay the course when it comes to positive savings behavior, according to the firm's latest quarterly data.

Proving that it is still in the competition for top advisory talent, Morgan Stanley Smith Barney has tapped competing firms to add nine new financial advisors with more than $1.22 billion in client assets under management to its forces.

Merrill Lynch has hired a two-member advisor team who previously managed more than $1 billion at Wells Fargo's Abbot Downing business.

Advisor-owned financial services firm HighTower has snapped up a Credit Suisse advisor team with about $1 billion in assets under management, marking the eighth team to move to the firm this year.

Morgan Stanley Smith Barney is cutting its brokerage complexes from 118 to 86 and its non-producing branch managers from about 150 to 85 as it puts its final touches on consolidating two brokerage firms that began several years ago.

Wells Fargo has heated up its recruitment this summer by ushering in a spate of new financial advisor hires with almost $1.4 billion in assets.