Industry

Northern Trust hired Randall S. Burkert, a 20-year Goldman Sachs veteran, as managing director of development for its wealth management arm.

Cornerstone Capital Management, which currently serves as investment adviser to the Keystone Large Cap Growth Fund has entered into an agreement to sell the fund to New York Life Investment Management

Firms come and firms go, but there has to be a bit of nostalgia for Smith Barney.

Lynette DeWitt, former Research Director - Financial Product Development, Marketing, & Distribution, at Boston Financial Data Services, has left the firm.

LPL Financial announced Tuesday it has expanded its Model Wealth Portfolios platform through the addition of two new portfolios from LPL Financial Research and two managed alternative investment portfolios from Fortigent.

It's the end of an era. Morgan Stanley announced its U.S. wealth management business, Morgan Stanley Smith Barney, has changed its name to Morgan Stanley Wealth Management.

For a startup firm, attracting $150 million in assets under management within nine months is impressive. The entire story, though, of PWM Advisory Group goes back more than a decade.

Last month fewer broker-dealers closed their doors and fewer new ones opened them - a drop in overall activity that appears to be the product of three factors, according to David Alsup, director of business development for The Compliance Department, a consulting firm that regularly tallies these numbers.

Bank of America Merrill Lynch has named Morgan Stanley Smith Barney executive Michael Maghini to serve as head of insurance and annuities as the firm looks to capture more of the baby boomer market.

Federated Investors is on a roll.