Industry

The firm promoted Garrett Alton, a managing director of sales for Georgia, to a newly created role overseeing the firm’s sales teams in key Central and Mid-Atlantic U.S. markets.

More than half (55%) of Americans age 53 – 65 say they plan to continue working full-time as long as their health permits, up from 51% last year.

Securities America announced Thursday that managing partner of Kelley & Mullis Wealth Management, Michael Mullis, has become a registered representative with the independent broker-dealer firm.

Lisle Savings Bank, with over $516 million in assets, joins more than 150 other banks and credit unions, and more than 1,100 representatives nationwide also supported by Invest, a subsidiary of the independent broker-dealer network National Planning Holdings.

Wall Street firms must slash pay and headcount and shed almost a third of their trading-business assets to earn even half the returns they once made, according to Sanford C. Bernstein analysts.

The annual promotions, which take effect Jan. 1, come one day after New York-based Goldman Sachs named 70 people to its so-called partnership, the fewest since the firm became a public company in 1999. Partners, also called participating managing directors, receive a higher salary than managing directors and share in a special bonus pool.

Winners of Charles Schwab’s seventh annual Impact Awards were announced Thursday at Schwab’s Impact conference in Chicago. Walter Bettinger, Schwab president and chief executive officer, and Bernie Clark, executive vice president and head of Schwab Advisor Services, took the stage to present the three awards.

Goldman Sachs Group Inc. named 70 employees to join its so-called partnership, the fewest in the firm’s 13 years as a public company, as sluggish revenue growth pressures expenses.

Sovereign Investment Group, a Texas independent wealth management firm, announced Wednesday it hired Michael Koletar as a senior vice president of investments for its wealth management team.

Merrill Lynch has added industry veteran Daniel Sandlin from Morgan Stanley.