Industry

Envestnet announced Friday it has entered into a definitive agreement to buy the wealth management solutions arm of Prudential Investments in an effort to increase scale.

After the successful completion of the Morgan Keegan technology integration, the firm is eliminating 160 positions due to overlap in the information technology segment.

The appointment should help enhance equities research offerings for the Private Client Group, the firm said.

Horizons ETFs Management (USA), a subsidiary of Seoul, Korea-based Mirae Asset Global Investments Co. has appointed Joe Cunningham as Head of Capital Markets for Horizons USA.

The burgeoning influence of financial advisors in the United States was a repeated observation at this year's Tiburon CEO Summit at New York City's Ritz Carlton in Battery Park. Here are 11 themes we heard at the two-day event encompassing 200-plus executives and advisors.

“As investor confidence grows and perceptions of wealth management firms improves, so do advisor perceptions of their firm, particularly among independent advisors,” the J.D. Power study reported.

Licensed branch employees represent a significant opportunity that many banks have not tapped to its full potential, according to LPL's Rob Comfort.

The Wealth Consulting Group, an affiliate of Strategic Wealth Associates, announced it has hired former Major League Baseball athletic trainer Stephen Sayles as a registered representative.

Mary Jo White was sworn in this morning as the 31st Chair of the Securities and Exchange Commission.

The Financial Services Institute is heralding the advance of legislation in Florida that would significantly ease the registration process for advisors representing firms headquartered in other states.