Industry

American International Group will acquire the independent broker-dealer from the Hartford Financial Services Group.

Kenneth Fortini, Ralph Labriola and Nicholas DiMenna will join Stifel after more than twenty years each at Wells Fargo Advisors.

On July 31, 2012, Gemini Fund Services has promoted Andrew Rogers to chief executive officer and Kevin Wolf to president. The promotions became effective in the second quarter.

Financial professionals who hold a certified financial planner (CFP) certification can expect to generate more revenue and enjoy higher levels of client satisfaction than their counterparts without the designation, a new study has found.

LPL Financial reported second quarter net income of $39.5 million, down $6 million compared to $45.5 million in the same quarter of 2011. Net revenues for the second quarter of 2012 increased 1.5% to $907 million, from $894.0 million in the prior year period.

The investment solutions provider has tapped a new CEO and president and relocated two offices as it responds to recent growth.

Merrill Lynch Wealth Management has snapped up a financial advisor duo with $789.5 million in client assets under management months after they joined Barclays Wealth Management.

UBS Wealth Management Americas reported $211 million in pre-tax profit for the second quarter on Tuesday, up 28% from the same quarter last year, as the division continued to grow its financial advisor headcount.

On Julr 31, 2012, Kate Healy has been named the new managing director of marketing for TD Ameritrade Institutional, responsible for the development of marketing strategies and focusing on the independent registered investment advisors channel.

Wealth managers are still struggling to create a full-service family office practice on a mass scale primarily because most advisors still aren't taking the entire family into consideration. Here are some ideas that can help.