Career moves

Debate still rages over his legacy. But there's no doubt about how much O'Neal overcame on his way to becoming the first Black Wall Street CEO.

Christopher Armstrong and Randall Kiefner question an arbitration ruling finding they owe Charles Schwab nearly $3 million.

The move brings the 28-year industry veteran from a firm where independent planners make up less than 5% of the advisory headcount to one where they are the majority.

Industry headhunters look for a revival of Merrill's recruiting efforts to stem the slow bleed of talent to industry rivals.

Jim Esposito was critical of the firm's eventually abandoned push into retail banking.

The shuffling comes halfway through the longtime CEO's five-year retention package.

Recruiters say the moves show how wirehouses will continue to fight an uphill battle as they struggle to keep experienced teams from moving on in the coming year.

Greg Wilson of the Wall Street giant's Asset & Wealth Management unit wants to provide employees with tailored plans using a blend of technology and personal financial coaching.

Industry recruiters see the changes as intended to make client assets and advisory teams "stickier" and to retain executive talent.

With few new advisors coming into the industry but total U.S. assets growing rapidly, Morgan Stanley, Wells Fargo, Merrill and others are having to up their compensation game and distinguish themselves in other ways if they want to capture a larger share of the wealth pie.