Portfolio

Berkery will be succeeded by Michael Blum as the chairman of UBS Bank USA. A Merrill Lynch alum, Berkery was part of the turnaround team at UBS' wealth management unit, and during her tenure, the lending book at its bank more than doubled in size.

The bank sometimes ignored the advice of its own diligence vendors in packaging and selling loans.

While outpacing the S&P 500, the price tag is higher — the average expense ratio is more than 1%.

A directive on ETFs took the advisor by surprise after several years with the No. 29 IBD, he says.

The departure is the latest in a string for the wirehouse, whose broker ranks have shrunk by more than 300 over the last year.

The move suggests officials expect a lift this year and next from a tax overhaul passed by Republicans in December.

Speculation grows that any retailer with a robust e-commerce platform, physical ubiquity, brand awareness and trust could become a wealth management player.

The asset manager says its free tool for target date fund clients will "supplement the advisor conversation."

To protect their practice, advisors should know the answers to several critical questions about how vendors use and safeguard their data.

The firm seeks to diversify investment risk for clients by combining six internally managed liquid alternative strategies. Plus; other launches.