The firm's adviser headcount slipped 98 year-over-year.

The firm reported record revenues, net income and client assets for the first quarter.

First-quarter profits jumped almost 40% on $577 million in revenue.

Some brokers who recently left the wirehouse cited differences over its policy to cease offering commission-based retirement accounts.

While first-quarter revenue from insurance services fell 7.5% year-over-year, the overall wealth management business still managed to come out ahead.

The Buffalo-based institution generated $120 million in first-quarter revenue from trust services, up 8% year-over-year.

First-quarter revenue jumped 9% year-over-year even as the number of advisers fell by 10%.

Net income and client assets grew even as the firms' headcount continued its steady decline.

The last time the pool was smaller was in 2012, when it decided to cut large parts of the investment bank and was fined for trying to rig global interest rates.

The nation's largest IBD vows to take a “proactive approach” to the fiduciary rule.