Industry

Franklin Buys Remaining Stake in Alt Shop

The addition of three sales directors in Miami, West Palm Beach and San Francisco are part of the wealth manager’s long-term campaign to boost its sales force by 50% by 2014.

Morgan Stanley will buy the rest of its wealth-management joint venture with Citigroup Inc. as soon as next week, capping a four-year effort to reshape the investment bank into a more stable firm reliant on the retail- brokerage business.

Now that I'm entering my second week of running my own RIA, it's time to get out there and find clients. While I have prepared many avenues in which to do this, one worked out quite well already.

LPL Financial hired an ex-SEC official as its new general counsel as the firm continues to restructure its management team.

Financial institutions should develop distinct service offerings for young investors that speak to them at their life stage.

After seven years with another independent broker-dealer, an Omaha, Neb,. team has returned to Securities America.

Christian Thwaites has stepped down as president and chief executive officer of Montpelier, Vt.-based Sentinel Asset Management to pursue other opportunities, according to the firm.

State Street Global Advisors, the investment research and trading arm for Boston-based State Street, said it will lose Global Equities CIO Alistair Lowe as it plans to transition toward combining various investment disciplines.

Paul Jablansky, the head of structured products at fixed-income manager Western Asset Management Co., has left the unit of Legg Mason.