Industry

The firm was "cut out" from an entire class of advisers, says CEO Alexandra Lebenthal.

The stock picker, known for beating the S&P 500 for 15 straight years when he ran the Legg Mason Value Trust, will buy Legg Mason's stake in LMM.

Rick Ulmer, the former regional executive for insurance services in the Mid-America region, will now oversee insurance operations in 10 states.

The stock picker, known for beating the S&P 500 Index for 15 straight years when he ran the Legg Mason Value Trust, will buy Legg Mason's stake in LMM, an investment adviser that he and the company jointly own.

Former Philadelphia Eagles player Merrill Robertson Jr. funded "luxurious" lifestyle with life savings of football coaches, complaint says.

Paul Morris is one of a growing number of recruits that the wirehouse has rehired after they had previously left the firm.

Arbitrators for the regulator also awarded an expungement to Dale Cebert, who claimed a campaign to damage his reputation followed his termination from the wirehouse.

Independent advisers need to redefine their service to factor in the intrinsic values they bring to clients, says TD Ameritrade Institutional President Tom Nally.

David Kowach oversaw approximately 11,000 advisers as head of the Private Client Group.

The percentage of M&A deals involving brokers leaving for advisory firms has plunged.