Portfolio

The new hires generated approximately $5 million in production before making the move.

The deal underlines the bank’s focus on Folio's clearing and custody capabilities, as well as its 450 RIAs.

The scale of the withdrawal indicates that the ETF is both being used by large institutions and a favorite with retail investors, an expert says.

The firm has sought to broaden the range of clients it targets with its wealth-advisory services.

The wirehouse is also tweaking pay related to cash solutions for clients.

Clients have been jolted into engaging with their total wealth, not just their money, says UBS’s Ultra High Net Worth and Private Wealth Management Americas head John Mathews.

The Boston-based boutique oversees the assets of roughly 140 full- service clients and 800 individual households.

The custodian is upping the number of scholarships set aside for women and people of color.

While broadening stock-market gains may one day provide more fertile ground for picking equities, right now fundamental managers are struggling.

Orion, Riskalyze and AdvisorPeak hope to offer a replacement to TradeWarrior, which will close on Dec. 31.