Industry

Bank of America Merrill Lynch will pay $2.8 million to settle claims that it took too long to compensate departing brokers.

The 2013 RIA Roadshow will kick off a six-city tour of the Midwest on Tuesday September 24 in Troy, Michigan.

The 50 largest asset managers accounted for more than US$38 trillion in assets under management at the end of 2012. This is a full US$4 trillion more than the year before, even as the biggest firms in the industry continue to enlarge, according to The Cerulli Report: Global Markets 2013.

Best known as the first woman to own a seat on the New York Stock Exchange and the first to head one of its member firms, Muriel F. "Mickie" Siebert died of complications from cancer on August 24 at the age of 80.

Southern California-based Beacon Pointe Wealth Advisors has another notch on its belt.

Citi Private Bank nabs talent from J.P. Morgan and Abbot Downing to serve the super wealthy in key markets.

The 50 largest asset managers accounted for more than US$38 trillion in assets under management at the end of 2012. This is a full US$4 trillion more than the year before, even as the biggest firms in the industry continue to enlarge, according to The Cerulli Report: Global Markets 2013.

UBS picked up a Morgan Stanley veteran with $345 million in assets under management.

The expansion-focused $6 billion wealth manager has added Santa Barbara-based Pacific Pointe to its roster, making it the fifth firm in Beacon Pointe’s growing stable, and the fourth in California.

Senior executives with leadership experience and strong sales skills in high demand as current advisors look to retire.