Industry

Pacific Investment Management, seeking to stem redemptions after its co-founder Bill Gross left unexpectedly, was dropped as manager of a $6.16 billion strategy offered by a unit of Prudential Financial.

Edward Jones Managing Partner James Weddle says the firm grows organically, recruiting from colleges and even the military for new advisors.

UBS Wealth Management Americas reported that profits surged 17% year-over-year

Convergent CEO David Zier's death followed inquiries into his management of an outside fund, according to Chairman Steve Lockshin.

Strong details and carefully executed plans make for a positive transition.

The independent broker-dealer has added former LPL affiliate Nelson & Nelson Wealth Management of Camarillo, Calif.

But the asset allocation and rebalancing service will launch first for retail before rolling out to Schwab advisors.

Daniel Keating, a 35-year veteran of the municipal bond market and former Bear Stearns executive, joins insurer Build America Mutual as senior managing director for municipal bond markets starting Monday.

Fending off cyber intrusions is becoming a cost of doing business, but when advisors find that their practice has been breached, they need to follow a plan for assessing the damage.

The “reverse churning” comes in when the client is in a wrap program, despite being a low-volume trader.