Industry

From the courthouse to the wirehouse, Racquel Oden has blazed her own path. Now she's helping new advisors find theirs in her new role as head of Merrill Lynch's training program.

Merrill Lynch has scooped up two advisors with $3 billion in assets under management from rival wirehouse giants UBS and Deutsche Bank.

The value of advisory firms is now being driven by growth, cash flow and risks, says investment banker and consultant David DeVoe.

Donald Runkle, who spent nearly 11 years as Raymond James Financial Services' chief compliance officer, resigned; the firm provided no explanation for the departure.

Hugh "Skip" McGee isn't just the head of a British bank's Americas division. He is one of its most lavishly paid officials and the only former Lehman Brothers Holdings Inc. alumnus on the executive committee.

The Cypress Group, a former Morgan Stanley team that managed about $740 million in assets, has left the wirehouse to join Integrated Wealth Management.

As his biggest IBD acquisition closes, Nicholas Schorsch predicts more big-ticket M&A deals during a Milken Institute session; another panelist warns of inflated price tags and bad behavior.

Deal adds over 6,600 financial advisors, giving RCS the country's second-largest independent network by advisors.

Ameriprise Financial posted the biggest gain in the Standard & Poor's 500 Index after reporting profit that beat analysts' estimates and announcing increased share buybacks.

Barclays said Hugh "Skip" McGee will step down as chief executive officer of its Americas unit, almost six years after the British bank bought the operation from the bankrupt Lehman Brothers Holdings.