Industry

Ronald O’Hanley, who stepped down last year as head of Fidelity Investment’s asset management business, is set to run State Street Corp.’s $2.45 trillion investment arm.

Nearly half of Americans are saving no more than 5% of their incomes, while 18% are saving nothing at all, according to a new report.

Raymond James added a Wells Fargo advisor who managed $175 million in client assets.

The advisor, now barred from FINRA, allegedly violated his firm's policies and FINRA rules when he borrowed money to build a oceanfront vacation rental.

The pace of RIA dealmaking has leveled off over the last few years, with no increase in the number of deals over the previous year and aggregate AUM acquired ticking up only slightly to $47.4B from $43.7B, according to new data from Schwab Advisor Services.

Long, who oversaw 400 advisors at Wedbush, parted ways with the firm earlier this month.

Revenue grew faster than assets for advisors, a PriceMetrix report finds -- but average client age is now nearly 62, and increasing at a rate of roughly 6-7 months per year.

Four advisors joined the firm from rival brokerage D.A. Davidson.

The partnership will help the bank expand the financial advisory services available to business owners in the New York metro area.

Outlook for the planners -- who were recruited with a promise that they would "not [be] required to sell" -- seems to depend on whether you talk to Northwestern Mutual or LearnVest.