Industry

In a continued push to reform regulation for advisors, five independent financial firms have joined the Financial Services Institute.

Wall Street turned to Bordeaux, sushi and faxes as Hurricane Sandy wreaked the most havoc in the history of the city’s transit system and closed stock markets on consecutive days for the first time for weather since 1888.

In any kind of “normal” flood, water would never reach 80 Pine St., a 39-story tower two blocks inland from the lower Manhattan waterfront, landlord William Rudin said. Last night, his Rudin Management Co. was pumping out the basement, and he was grateful the building manager and engineer weren’t seriously hurt when water poured in as they were shutting down steam lines and checking equipment.

Forget about fake scares: Advisor spends Halloween holed up at "secret" church to recharge laptop and reach out to clients.

Hirings this month include Michael Maghini moving to Bank of America Merrill Lynch from Morgan Stanley; Mark Rabbe to RBC from UBS; Al Weaver and John Worcester to Ameriprise from Morgan Stanley, and promoted was Wells Fargo's Jim Hays to executive vice president and head of wealth brokerage services.

HighTower has gotten a big boost by working with independents. Can it keep up the momentum?

From the start, three has been the magic number at Philadelphia-based Firstrust Financial Resources.

Look for changes in Artio Global Investors leadership, with Richard Pell stepping down as chairman and chief executive officer tomorrow.

Largest independent broker-dealer increases assets under management and adds advisors, but revenues don't keep pace.

A 25-year veteran of the financial services industry, Richard Wright, will serve Wedbush’s Southern California office.