Victoria Zhuang

The moves come as Merrill seeks to integrate more with parent company Bank of America.

After around 14 years at the helm, Gorman will transition to executive chairman and his successor will be one of three internal candidates.

As the RIA market expands rapidly, Goldman Sachs Advisor Solutions is gaining ground with more RIAs seeking bespoke services for ultrahigh net worth clients.

A multi-year study shows where and how advisors can focus on growing on their own as dealmaking slows.

The team, led by financial advisor Ting O'Connor, left because they were unhappy with Merrill's culture and wanted better working conditions for their support staff, a recruiter said.

Four estate planning experts, including at Bank of America Private Bank and UBS, offer advice on the unique challenges of working with creative professional clients.

RIA DayMark Wealth Partners, less than a year after leaving Wells, has recruited another big team of ex-Wells advisors.

The Oracle of Omaha and his longtime friend and business partner Charlie Munger chided wealth managers at their annual event, but offered lessons in life and business.

As family offices continue to grow and want to invest more this year, Goldman Sachs is positioning itself to help with their planned spending sprees.

Ahead of TEFAF, a top art fair it will sponsor in New York next week, Bank of America shared why art matters to rich investors and what buyers can expect this year.

Tapping a relationship that was around 15 years strong, Sanctuary won a legacy Merrill Lynch team in the competitive market for independent advisors. Here's how it happened, Sanctuary president Vince Fertitta told FP.

Advisors managing over around $2.5 billion of assets moved since the start of the week, joining employers such as UBS and Wells Fargo, as some doubt their prospects at the former First Republic under new owner JPMorgan Chase.

Although First Republic advisors appear relieved by the restoration of stability in coming under the megabank's umbrella, looming culture clashes could bring more attrition — from both the incoming advisors, and those they're joining.

The 12-person team's move was unsolicited and adds to what is now almost two dozen advisors who have migrated to the wirehouse from the struggling regional bank.

The moves reflect a wild week of First Republic advisors rushing to firms including JPMC, Morgan Stanley and UBS following their employer's calamitous earnings call Monday.

Despite a nearly flat advisor headcount, interest income and fees lifted the regional brokerage's results, and the wealth business still added $21.5 billion of net new assets.

Despite an earnings miss, the regional wealth firm said it was well-positioned to grow and retain customer cash, and made a pitch for advisors at less stable firms to hop aboard.

The firm saw profits halved over the past year and had a net loss of 98 advisors in the Americas last quarter. But its wealth unit brought in $28 billion of net new money.

The bank said the advisors and associates who left had managed under 20% of wealth management assets, as of the end of the first quarter.

The regional firm, whose parent is the 10th largest bank in the world by market capitalization, is eager to pitch top advisors seeking stability. At the same time, it's ramping up a major branding campaign with Major League Soccer and Apple to woo next-generation clients.