Lorie Konish

Robert W. Baird & Co. has expanded its wealth management business nationally by hiring a new branch manager and six financial advisors previously handling $920 million in client assets.

Raymond James & Associates has hired three financial advisors from Wells Fargo Advisors and RBC Wealth Management to work in its new Hingham, Mass., branch.

UBS Wealth Management Americas has hired three Bank of America Merrill Lynch financial advisors in Farmington Hills, Mich., who previously oversaw $450 million in client assets.

When a four-member team joined RBC Wealth Management’s new Palm Desert, Calif., office last week from Bank of America Investments/Merrill Lynch, the move came after an extensive search.

Morgan Stanley Smith Barney has hired a two-member Wells Fargo Advisors team in its Rancho Santa Fe, Calif. office.

UBS Wealth Management Americas has hired Morgan Stanley Smith Barney financial advisor Brian Zalewski in Chicago.

Bank of America Corp. has received a vote of confidence from legendary investor Warren Buffett and sealed an agreement for his company, Berkshire Hathaway Inc., to inject $5 billion into the bank in a private offering.

A former Morgan Stanley Dean Witter stockbroker was sentenced this week to almost five years in prison and ordered to pay his former employer $1.5 million in restitution in connection with fraud charges.

Janney Montgomery Scott has hired financial advisor James A. Baber IV, who previously oversaw $61 million in client assets, to join the Strange Group in the firm’s Richmond, Va. office.

While 350 positions are set to be eliminated in UBS’ Wealth Management Americas unit, they will not include financial advisors directly handling clients.

Bank of America Merrill Lynch has hired Wells Fargo financial advisor Adam Gurien, who previously oversaw $283.3 million in client assets.

Almost three years after Bernard Madoff’s fraudulent investment scheme was discovered, the unprecedented crime still holds some key lessons for financial advisors, according to investigative journalist Diana B. Henriques.

HighTower Advisors continues its roll-up expansion strategy with the hiring of Greycourt & Co. financial advisor Margaret M. Towle, who previously oversaw $1 billion in client assets.

Raymond James & Associates has snapped up a father and son Bank of America Merrill Lynch financial advisor team who previously oversaw $114 million in client assets.

The Securities and Exchange Commission hit Stifel Nicolaus & Co. and one of its former executives with fraud charges on Wednesday, alleging that they sold $200 million in investments to five Wisconsin school districts without properly representing their risks.

UBS Wealth Management Americas has hired 11 new financial advisors that previously had $1.2 billion in assets under management and $9 million in fees and commissions.

Bank of America Corp. Chief Executive Brian Moynihan sent a letter to the firm’s employees on Monday night in an effort to calm them following the firm’s 20% stock plummet that day.

As a new market reality sets in, Bank of America Merrill Lynch is urging investors not to make rash moves with their current investments, and to also consider asset classes poised to profit in current conditions.

Regional brokerage and investment banking firm Stifel Financial Corp.’s second quarter results took a hit as the firm wrestled with ongoing legal issues, while its global wealth management business’ revenue fell from the first quarter with decreased trading volumes.

Even before the events surrounding the U.S. debt ceiling deal and downgrade, affluent investors’ concerns about how long their retirement assets will last was rising, according to a new Bank of America Merrill Lynch survey conducted in June.