Matt Ackermann

Armed with stronger deposit growth, higher fee-based income and lower credit costs, BofA’s global wealth and investment management net income increased 22% from a year earlier. Revenue rose 11% to $4.5 billion.

Wells had sought $36 million from Stifel Nicolaus for the case of improper recruiting.

Sal Naro, who was the former Markit Group executive vice president and Sailfish Capital’s co-founder and managing partner, was also appointed vice chairman of the parent company Jefferson National Financial Corp. and elected to its board of directors.

Integra Bank Corp. of Evansville, Ind., announced it has agreed to sell its wealth management arm to another Evansville bank, Old National Bancorp.

Washington Wealth Management, a Middleburg, Va., based registered investment advisory firm, announced it hired Jordan Ball as a regional vice president for its newly opened Richmond, Va., office.

"Recent reports describe 2010 as the worst year for bank-sold annuities in the past decade, so the 4th quarter decline in the BHC Annuity Index comes as little surprise,” said Andrew Singer, the editor of the index.

A survey by First Command, reveals the top 10 attributes consumers seek.

51% of pre-retirees and retirees with incomes between $25,000 and $75,000 had not been contacted by any kind of retirement professional in the past 12 months.

Raymond James Financial has completed its acquisition of Howe Barnes Hoefer & Arnett, Inc.

ING announced Friday it hired Orlando R. Cruz as president of its individual retirement investor channel.

Oakmark’s McGregor wins inaugural “Lipper Award for Excellence in Fund Management”

Firm opens second branch since launching in December as part of aggressive growth strategy.

According to the agreement, both companies will initially retain their separate brand identities. The deal, which is expected to close during the third quarter, is subject to optionsXpress stockholder approval and regulatory approvals, along with customary closing conditions.

New advisor growth increased by more than 60% from a year earlier.

The company added six wealth executives in California, two in St. Louis, two in Washington state, one in Portland, Ore., one in Nasvhille, one in Portland, Maine, and one in Chicago.

More than half of RIAs are ‘bullish’; large caps and ETFs are top investment choices

Philip Hill has joined First Republic Private Wealth Management in San Francisco as a portfolio manager and managing director.

Industry veterans, Brent Norman and Erik Lawrence, formerly with UBS, will work with John Noble, a managing director of Paulson Wealth Advisors, in the expansion of Paulson’s investment advisory firm throughout the Pacific Northwest.

Mahoney, who has worked for the San Mateo, Calif., based investment manager since 1993, is “now responsible for overseeing and mentoring the firm’s internal sales staff, and will also seek ways to enhance sales techniques to make them more salient in the digital age.”

New office is expected to reinforce Boston company’s commitment to Australian market