Industry

Creating a high-end brand from scratch is a daunting prospect, says Jeff Spears, chief executive of Sanctuary Wealth Services.

"We are reasonably confident that going into 2016 regulatory expenses will be down substantially," says LPL's acting chief financial officer Tom Lux.

Wells Fargo adds three recruits, including one from Morgan Stanley, to grow its independent channel.

Former wirehouse advisor Paul Tanner has struck out on his own with help from TruClarity, a new platform that helps breakaway advisors go independent.

Aberdeen Asset Management agreed to buy Arden Asset Management to expand its hedge-fund business.

An arbitration panel ordered the wirehouse to pay two former clients $250,000, a mere 10% of what they originally sought, in a case involving the sale of funds of Puerto Rican municipal bonds.

A former Wells Fargo FiNet affiliate has signed on with Raymond James' independent broker-dealer.

XYPN co-founder Alan Moore moves his RIA to Abacus Wealth Partners as part of the deal.

While the group moves between wirehouses, Morgan picks up more recruits from Barclays.

Commentary: No human, no matter how sophisticated, can operate as consistently, quickly or as efficiently as the technology powering an automated investing service.