Industry

Net income in Stifel’s wealth management division rose almost a quarter from last year as the firm announced it had purchased KBW for $575 million.

The new hires join eight of Barclays’ offices in the U.S. from firms including Bank of America Merrill Lynch, Credit Suisse, J.P. Morgan Private Bank, Morgan Stanley Wealth Management, SunTrust Investment Services and UBS Financial Services.

First Republic will integrate Luminous Capital Holdings into First Republic Investment Management.

The 20th anniversary is fast approaching of the launch by State Street Global Advisors in 1993 of the first investment fund that could be traded throughout the day like a stock.

Goldman Sachs Group Inc., which is scheduled to announce its new class of partners next week, has 407 members of that elite group, down 31 in about nine months, according to a company filing.

A win by Mitt Romney in tomorrow’s U.S. presidential election is more likely to boost Wall Street compensation than if voters re-elect President Barack Obama, according to a survey conducted by eFinancialCareers.

TD Ameritrade Institutional drew a record 441 breakaway brokers to its platform for independent registered investment advisors in fiscal 2012, a 27% increase from a year earlier.

Franklin Templeton Investments' parent Franklin Resources has effectively expanded its alternatives offerings.

Mid-sized banks that mostly let Wall Street and small firms speak for the industry during the debate over the Dodd-Frank Act have decided it’s time to carve out their own agenda in Washington.

Among the big deals this week: First Allied buys Legend from Waddell & Reed to form a firm with $28 billion under management.