Industry

Fortress is the fifth firm to join Omaha-based Arbor Point, which provides an open architecture platform aimed at dually registered advisors, since it launched early last year.

Deutsche Bank's wealth management unit has recruited former-Barclays advisor Chris Guttilla.

Morgan Stanley Wealth Management's profits were up for the first quarter, following strong growth in fee-based assets and interest income. Overall, the bank's profits grew to $1.5 billion in the first quarter of 2014.

John Taft, CEO of RBC Wealth Management-U.S., shares his insight on upcoming regulatory changes, an ever-more complex marketplace and leadership.

Bank of America’s wealth management unit reported a modest increase in profits and a surge in advisor productivity, but the bank suffered a net loss for the quarter as litigation expenses related to the financial crisis rose to $6 billion.

RIAs are gaining market share of assets, although wirehouses will still control nearly $6 trillion by 2016, the research firm predicts.

Credit Suisse Group AG, the second- biggest Swiss bank, reported a slump in first-quarter earnings as a drop in debt trading weighed on investment-banking profit.

Three advisors for San Diego-based Total Wealth Management -- including one who apparently once worked for the FBI -- now face SEC charges for allegedly paying themselves concealed revenue-sharing fees from investments they recommended to clients.

Janney Montgomery Scott recruited an advisor team with $1.7 million in annual revenue from Barclays.

Longtime LPL executive Bill Morrissey has been tapped to take over the company's independent advisor services unit following the sudden departure of Derek Bruton.