Industry

Gearing up for more stringent regulations ahead, SIFMA is calling on regulators to better coordinate efforts and craft a business-model neutral fiduciary standard.

RCS Capital moved to become the nation's second-largest independent broker-dealer by advisor count on Thursday by agreeing to purchase Cetera Financial Group for $1.15 billion in cash.

Two Florida planners have asked the court to sanction the CFP Board. The organization calls the suit "without merit" and declined to answer dozens of questions in the first deposition.

The $1.3 billion Rockville, Md., advisory firm has added two prominent advisors to its team, adding roughly $50 million to Highline's assets under management.

The firm hired sales directors and other professionals in Chicago, Las Vegas, Boston and Madison, N.J., and opened an office in San Diego.

Bank of America's wealth management unit produced strong profits for the fourth quarter of 2013, and did so with fewer advisors.

The FPA and other organizations calling for stricter regulatory oversight of investment advisors reacted with dismay to the omnibus federal spending bill unveiled this week, which they say will leave the SEC unable to effectively police the industry and protect investors.

As the cost of recruiting new advisors has soared, says CEO Erica McGinnis, such small-scale growth has become more difficult -- and more expensive.

UBS AG, Switzerland's largest bank, expects to boost client assets in the U.K. this year even as Swiss competitors try to break into London's $1.2 trillion private wealth market to help counter withdrawals at home.

An advisory group in Winter Park, Fla. with $550 million in client assets leaves Morgan Stanley to go independent.