Industry

A win by Mitt Romney in tomorrow’s U.S. presidential election is more likely to boost Wall Street compensation than if voters re-elect President Barack Obama, according to a survey conducted by eFinancialCareers.

TD Ameritrade Institutional drew a record 441 breakaway brokers to its platform for independent registered investment advisors in fiscal 2012, a 27% increase from a year earlier.

Franklin Templeton Investments' parent Franklin Resources has effectively expanded its alternatives offerings.

Mid-sized banks that mostly let Wall Street and small firms speak for the industry during the debate over the Dodd-Frank Act have decided it’s time to carve out their own agenda in Washington.

Among the big deals this week: First Allied buys Legend from Waddell & Reed to form a firm with $28 billion under management.

Jonathan Blackwood joined as a senior private banker, while David Noosinow joined as senior sales director to help develop business throughout Georgia and in Lexington and Louisville, Ky.

The NASDAQ's parent group is acquiring a new index provider.

Pulling from Wells Fargo and Raymond James, the firm has added three advisors with over $200 million in AUM.

Morgan Stanley Wealth Management vice chairman Paul Hatch has said publicly that these reps-as-portfolio-manager programs are "a permanent change."

In a continued push to reform regulation for advisors, five independent financial firms have joined the Financial Services Institute.