Industry

BlackRock has agreed to purchase an $87 billion money-market fund business from Bank of America as it builds scale in an industry grappling with new regulations.

Just as robos seek to bring lower-income, self-directed investors into the advisory realm, the administration is looking to extend the retirement safety net through no-fee, no-risk savings plan.

FINRA moved to banish the broker for failing to cooperate with an investigation into allegations that he borrowed thousands of dollars from a 70-year-old customer without Wells Fargo's prior approval.

Merrill Lynch picked up an advisor from rival Credit Suisse.

The newly recruited Wells Fargo team will operate as Cohonesto Financial.

Advisors gasped when they heard that the proposal requires firms to have a website revealing information previously considered confidential.

The firm's Americas wealth management unit is smaller, but better positioned to compete for wealthy clients after six years under President Bob McCann, industry insiders say.

A team with almost $1 million in production left the wirehouse to join the independent side of Raymond James.

“Owners of advisory firms don’t realize there’s a new school approach to succession planning,” – David Grau Jr., president and CEO of Succession Resource Group.

Brown Wealth Management Group, a former Wells Fargo-affiliated independent advisory firm, will focus on high-net-worth clients at LPL.