Growth strategies

The San Francisco bank announced the hiring of a nine-member team led by Merrill Lynch veterans Harold Reinstein and Michael Nelson. First Republic reported 26.4% growth in wealth management revenue during the second quarter.

The program could provide a rubric for financial advisors and wealth managers seeking to reach historically excluded groups.

As part of a long-term industry shift, firms like Ameriprise, Commonwealth and Northwestern Mutual get most of their business from advisory fees.

Credit Suisse Group is shifting resources in the pursuit of business from a broader range of rich clients, as the lender focuses more on wealth management amid cuts to its troubled investment bank. 

These are the largest firms with financial advisors who work with broker-dealers but aren't their employees.

The word 'broker' carries negative connotations. But to many wealth management professionals, commission-based shops are valuable to a transforming industry.

The growing wealth management offshoot of what was once John D. Rockefeller's family office plans to add more than 100 more advisory practices.

Citigroup is planning a 500-person hiring spree over the next three years for a new wealth division catering to junior employees at private equity offices, consultancies and accounting firms, betting those clients will someday join the ranks of the ultrawealthy. 

The giant custodian's practice management team homes in on a metric that experts say often gets ignored by financial advisors.

SmartAsset tracked “organic” growth to see which advisor firms added the most clients and AUM over the past three years.