Industry

Revenue at the Global Wealth and Investment Management division, including Merrill Lynch and U.S. Trust, was off from 2Q records.

With $1.4 billion in assets already, firm aims to become a Southern California giant.

Three big industry names are joining forces to form a new wealth management firm, Lebenthal Wealth Advisors.

How can you tell whether your own goals are appropriately aggressive? Two things helped new solo advisor Dave Grant understand this.

Banks are looking to the relative safety and profitability of their wealth management divisions to boost earnings. But with that strategy comes increased regulatory and ethical scrutiny of this business line.

Hector Sants, head of compliance and government, is to take a temporary leave of absence because of “exhaustion and stress” less than a year into the job.

A reserve release boosted profits at the wealth division although transaction revenue and commissions declined.

The board voted Thursday to adopt two attestation standards pertaining to audits of brokers and dealers, along with an auditing standard for broker-dealer audits.

Wells Fargo said third-quarter profit climbed 13% to a record as fewer loan defaults and lower expenses helped overcome weakness in mortgage lending.

Educators say they expect full explanation and transparency.