Industry

John Brynjolfsson, after creating an $80 billion asset management business at Pimco and a $1 billion hedge fund on his own, will downsize to a $16 million mutual fund during the next stage of his career.

Many advisors may like the idea of independence, but some don't really want to jump through the hoops of starting their own firms.

Firm cautions brokers to rethink how they approach their relationships with advisors to better cater to team practices.

CEO Tidjane Thiam said he plans to allocate more resources to wealth management and strengthen the bank's position in Asia, while scaling back the investment bank, mirroring an approach of UBS.

The independent advisory world is a fragmented industry, which is not conducive for advocacy in policy-making.

An ex-wirehouse advisor sought damages for libel and other misconduct against Merrill.

Credit Suisse's losses include a three-member team that generated $7.2 million in annual revenue, which joined UBS.

Morgan Stanley's move to push more cases to an arbitration system of its choosing tilts the playing field against advisors and curtails their rights, opponents say.

The Canadian-owned firm won't rule out a potential acquisition of a digital advice provider. "Everything you can imagine is on the table and actively being explored," John Taft, head of the firm's U.S. brokerage operations, tells On Wall Street exclusively.

Planner Brittney Castro takes an unorthodox route to prospecting young clients and if you don't like it, she's like, you know, cool with that.