Industry

The advocacy organization for personal financial planning announced on Wednesday that Seneca Financial Advisors CEO Joseph Votava Jr. has been elected to serve as its 2015 chair-elect.

Described by authorities as a con man, an advisor with a troubled past is ordered to repay $4.2 million in restitution; will serve sentence in a medium-security prison.

Stifel Nicolaus picked up a Baird advisor managing over $170 million in assets.

Wells Fargo Advisors picked up an advisor team with $300 million in client assets from Morgan Stanley.

A former United Bank & Trust wealth management team with more than $350 million in client assets is going independent with the help of Dynasty Financial Partners.

To meet rising client demand for digital services, Wells Fargo appointed Devon McConnell as its new head of Wells Fargo Advisors Digital to oversee development of the firm's mobile and online client platforms.

A former Morgan Stanley executive with 30 years of experience has signed on with Ziegler’s wealth management division as its new senior managing director.

Ameriprise had a busy recruiting month in July, adding four advisors managing over $350 in assets to its franchise channel.

After being forced to produce extensive records, the board hopes a judge will similarly order two planners to produce voluminous documentation.

UBS is considering buying a wealth-management firm in Brazil as it seeks to expand that business sevenfold by 2020, said Sylvia Coutinho, chief executive officer of the lender’s Brazil unit.