Industry

Almost all robo advisors were founded in 2009 or later and they have never seen a meaningful downturn in the financial markets. This is a major issue.

Merrill has lured away other big producers from rival wirehouses in recent months.

Two former employee advisors with $240M in AUM join independent firm.

“The changes we announced today makes the [robo] cost issue go away,” LPL Chairman and CEO Mark Casady tells Financial Planning.

A recruit from the banking channel at Wells Fargo moves to the regional's independent broker-dealer.

Comparing its authority to that of sororities, country clubs and other trade organizations, the CFP Board convinced a federal judge to throw out planners' fee only lawsuit.

Suggesting that the financial advice industry has evolved into robos, says former SEC Commissioner Steve Wallman, "is like saying the oceans have evolved into swimming pools."

Growth remains sluggish at the firm's wealth unit for another quarter.

With the bank's deal to sell its wealth management business to Stifel still pending, many advisors have jumped to either rival wirehouses or launched their own independent practices.

UBS lost a two-decade veteran to rival Merrill Lynch.