Industry

An arbitration panel has ordered Wells Fargo to pay Stifel $800,000 in the latest dispute over alleged raiding of former A.G. Edwards advisors.

Fidelity says the new desktop will enable the “anywhere advisor."

The unit added about $3 billion in fee-based assets over the past few years, with sales going up about 74%.

Wells Fargo now gets a third of its fee revenue from its relatively small investment-management and brokerage businesses. Executive David Carroll explains how Wells is getting more business from its wealthy — but not too wealthy — customers and is seeking acquisitions in this market.

Previewing an address Thursday that he's set to deliver to the 1,600 advisors attending the firm's annual conference, CEO Paul Reilly said that Raymond James Financial will continue to have “a big focus” on technology and training going forward. He also discusses how acquisition may (or may not) factor into the company's agenda.

The addition of four legacy Morgan Keegan advisors in Austin marks renewed hiring momentum, according to the firm’s director of retail.

The majority of Wells Fargo’s hires hail from Morgan Stanley, while one advisor joins from Edward Jones.

Russell Golden was named as the next chairman of the Financial Accounting Standards Board, effective July 1, 2013.

The Securities and Exchange Commission yesterday announced that Acting Director George Canellos and former federal prosecutor Andrew Ceresney have been named Co-Directors of the Division of Enforcement.

Stifel has snapped up 11 former Wells Fargo advisors with more than $1 billion in assets.