Practice

A U.S. probe into how Morgan Stanley client information ended up for sale on the Internet is examining whether a financial adviser was targeted by hackers after he took data from the bank, two people briefed on the inquiry said.

The robo advisor plans to add 90 to 120 new employees and add resources to Betterment Institutional, which already works with 90 advisory firms.

A U.S. probe into how Morgan Stanley client information ended up for sale on the Internet is examining whether a financial advisor was targeted by hackers after he took data from the bank, two people briefed on the inquiry said.

A wealth manager, with $65 million in client assets before he left the regional broker-dealer, joined an independent firm affiliated with SagePoint Financial.

Bradley Birkenfeld, the former UBS Group banker who won a $104 million whistle-blower award after serving time in prison for tax conspiracy, won a U.S. judge’s permission to testify in France in a separate probe of the Swiss bank.

Charles Schwab and New York agreed to settle a 2009 lawsuit in which the state accused the firm of promoting auction-rate securities as safe while failing to disclose the risks before the market for them froze.

Two former UBS advisors with over $120 million in client assets have signed on with Aegis Capital Group, an independent broker-dealer and RIA.

The Obama administration is expected to endorse more stringent fiduciary rules requiring brokers to have their clients' best interest in mind when recommending retirement-account investments; Plus, the retirement investment mistake clients don't know they're making.

Many advisors are failing to communicate the best strategies to clients. Here are some common trouble spots you should steer clear of.

Regional broker-dealer Wunderlich Securities recruited two wirehouse advisors.