Industry

Bank of America will retain the Merrill Lynch Wealth Management brand and operations even if it dissolves the parent company, Merrill Lynch & Co.

Bank of America, the second-biggest U.S. lender, plans to merge its Merrill Lynch subsidiary into the parent company to reduce complexity and costs.

Carson's coaching firm, Peak Advisor Alliance and digital content firm, Faulkner Media Group have joined forces to create a new digital content service for advisors.

AllianceBernstein L.P and W.P. Stewart & Co., Ltd. announced yesterday that the two firms have entered into a definitive agreement under which AllianceBernstein, a global investment management firm with $444 billion in assets under management, will acquire W.P. Stewart, an equity investment manager that currently manages $2 billion in U.S., Global and EAFE concentrated growth equity strategies for institutional and retail clients, primarily in the U.S. and Europe.

The Private Client Reserve lured professionals from J.P. Morgan Private Bank and Citi for positions in Los Angeles, Chicago, and Scottsdale, Ariz.

While the nation's largest independent broker-dealer says it has no “imminent” plans to own a bank, it now can if it wants to -- thanks to the announcement of a stock distribution by two of the firm’s original private-equity investors.

UBS has tapped Jonathan Brooks to be a sales director responsible for bringing in corporate clients.

Raymond James has created a new position that will oversee practice management development and education for the private client group.

Bloomberg -- Aides to President Barack Obama and Senate Majority Leader Harry Reid discussed the process of choosing the next U.S. Federal Reserve chairman in the wake of a letter from some chamber Democrats touting one contender, according to a person familiar with the conversations.

Advisors are adopting new technologies to streamline processes and impress clients. But it's smart to have a backup plan in case the technology fails you, says solo advisor Dave Grant.