Industry

LPL Financial broke out of its recruiting slump in the third quarter, adding 154 net new advisors, nearly five times as many as the previous quarter.

The firm’s advice and wealth management division accounted for almost 40% of firm-wide profit.

Net inflows from wealthy clients in emerging markets slowed in the third quarter according to the world’s largest private bank for the rich.

Banks have aimed their efforts too broadly at the mass-affluent, a diffuse and broad swath of customers. Instead, they should pursue the “rising mass affluent,” a segment with the most potential for accumulating wealth, according to Booz & Company.

A measure that would put the brakes on the Department of Labor's proposal to establish a fiduciary standard for advisors to retirement plans was approved by the U.S. House of Representatives in a largely party-line vote on Tuesday.

The CFP Board’s highly publicized $36 million 'Let's Make a Plan' campaign may have misled consumers.

UBS Wealth Management Americas pulled back from a record second quarter as credit losses and a drop in client trading took a toll.

UBS AG, Switzerland’s biggest bank, said it probably won’t be able to reach its profitability goal in 2015 after the Swiss regulator demanded the company hold more capital for risks related to litigation.

The firms have been sanctioned by the SEC for violating the custody rule that requires them to meet certain standards when maintaining custody of their clients’ funds or securities.

Lawmakers are set to begin debate today on a bill that would delay, perhaps indefinitely, a proposal by the Department of Labor to impose a fiduciary standard on advisors to retirement plans.