Industry

Bank of America’s wealth management unit reported a modest increase in profits and a surge in advisor productivity, but the bank suffered a net loss for the quarter as litigation expenses related to the financial crisis rose to $6 billion.

RIAs are gaining market share of assets, although wirehouses will still control nearly $6 trillion by 2016, the research firm predicts.

Credit Suisse Group AG, the second- biggest Swiss bank, reported a slump in first-quarter earnings as a drop in debt trading weighed on investment-banking profit.

Three advisors for San Diego-based Total Wealth Management -- including one who apparently once worked for the FBI -- now face SEC charges for allegedly paying themselves concealed revenue-sharing fees from investments they recommended to clients.

Janney Montgomery Scott recruited an advisor team with $1.7 million in annual revenue from Barclays.

Longtime LPL executive Bill Morrissey has been tapped to take over the company's independent advisor services unit following the sudden departure of Derek Bruton.

If the integration process takes longer or is more costly than expected, RCS says it may 'fail to realize' some or all of the anticipated benefits of the pending acquisitions.

From news of ETFs and ETPs rebounding in March to BlackRock shaking up leadership, here's top news impacting mutual fund and ETF managers and providers.

The wealth management industry has weathered recent storms and is set to set to meet future challenges, says Morgan Stanley's Greg Fleming

The new director fills the last of three critical positions in the build-out of the Waterbury, Conn.-based private bank.