Industry

The recruit is joining an existing practice, boosting the team's assets to $1 billion, according to the firm.

Profits rose 8% year-over-year at the bank's Global Wealth & Investment Management unit, which includes Merrill Lynch and U.S. Trust.

The hit smartphone game Pokémon Go taught banks a lesson in mobile strategy this week: gamify it.

The approaching milestone represents growth of about 30% in the past 9 years.

Second-quarter profits from wealth management and securities services jumped 56.3% to $100 million from $64 million a year ago.

Second-quarter revenue dipped 9.4% year-over-year, while profits plunged 22.5%.

The number of financial advisers at the firm declines 1% to 15,042.

Why can’t a firm’s operations be as beautifully integrated as the functions on a mobile phone?

"Call it an arms race of offerings," says Jonathan Beatty of Schwab Advisor Services.

After predicting a strong recruiting year, Wells' independent advisory arm attracts planners from LPL Financial, UBS and U.S. Bank.