Industry

The focus on dual registrants grows out of concern that the different compensation structures of the two business lines can create conflicts of interest and potentially harm investors, according to an SEC director.

Raymond James enticed away an advisor with $2.2 million in production as well as several associates from Merrill Lynch for its Cincinnati office.

'The average deal was a $1 billion or more RIA buying a mid- or smaller-size firm, a classic tuck-in,' says Jonathan Beatty of Schwab Advisor Services.

Bank executives expect to boost revenue from their wealth management practices 25% or more in the next five years, with some anticipating a 35% contribution to total bank revenue.

"We're seeing more inquiries like this," says Dynasty president and CEO Shirl Penney. "As the opportunity presents itself, we think more teams will see the advantage of joining to achieve scale, size and get more bang for their buck."

Detroit agreed to pay $77.6 million to UBS and Bank of America's Merrill Lynch unit to end interest-rate swaps that have cost taxpayers more than $200 million since 2009, according to a court filing in the city's bankruptcy.

“Executives today don’t want a higher position so much as a broader position," says Kathy Freeman. "They want to be stretched and challenged, and they want an opportunity to grow."

AdvisorGroup announced Monday that Rick Fergesen has been named as president and CEO of one of its four independent broker-dealers.

Most businesses start out small, and many don't survive. But for advisors who take the long-term view, there is a wealth of opportunity.

Profit sharing lies at the heart of Edward Jones' compensation plan, as the firm aims to grow its advisory staff and assets under management by more than a third by 2020.