Industry

While the number and size of RIA mergers and acquisitions stayed relatively constant last year, the players shifted sharply, according to a new report released Monday by Schwab Advisor Services.

Less than a week after announcing that it had nabbed a trio of Morgan Stanley advisors in Pennsylvania, Raymond James has added another Morgan Stanley team with more than $700,000 in production.

UBS financial advisor David Lugo, number 18 on the Top 40 Under 40 list, says that close community ties in Puerto Rico have helped foster the success of his practice.

WealthEngine has introduced a platform that helps advisory firms locate and profile high-net-worth individuals.

John M. “Jack” McCarthy, who became a widely quoted stock market bull during a 32-year career at Lord Abbett & Co., where he managed the flagship Affiliated Fund (LAFFX), has died. He was 85.

Pioneer Investments is reshuffling its fund lineup including reorganizing four domestic equity funds and liquidating another.

Jonathan Baum, the chairman and CEO of Dreyfus, resigned from the firm on Monday, Jan. 21, to pursue other interests, Morningstar reports.

Three industry veterans with nearly a million in production have jumped from Morgan Stanley to Raymond James in Newtown, Pa.

Morgan Stanley financial advisor Michael Merlin, number 19 on the Top 40 Under 40 list, says that making listening to clients a priority gives him an advantage over other advisors.

Morgan Stanley, the biggest financial brokerage, will spend $500 million to improve computer systems after flaws in a previous upgrade frustrated the staff.