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The wirehouse's new hires oversaw $466 million in client assets, according to a spokesman.

On Wall Street's annual ranking of successful young planners.

The new recruits joined the firm's independent and employee channels.

The world's largest asset manager is making the move in an effort to lower costs for clients, the company said in a statement.

A revenue boost for the firm's asset-management unit is key and could play a role in raising capital that's been eroded by misconduct charges.

Firms seeking to adapt need to keep these four points in mind.

Valuations are high from a fundamental perspective, but increasing consumer confidence has historically pushed them even higher.

Too much growth has led to a slowdown in business efficiencies. Smart firms need to fix their operating models.

The industry will experience an acceleration of the technology as firms meet data challenges, says Todd Moyer, an executive vice president at Confluence.

More retirees are expected to join the gig economy and go on trips that offer unique experiences.