Industry

Former ICI President David Silver Dies

UBS AG should consider splitting its investment bank from the wealth management and Swiss banking businesses, shareholder Knight Vinke Asset Management LLC said.

Independent broker-dealers and RIAs have the edge over wirehouses when it comes to adding mutual fund assets under management, according to Access Data and Strategic Insight.

Robert Sharpe joined Heartland Advisors in the role of co-portfolio manager of the International Value Fund (HINVX), which invests in smaller equity dividend-payers in developed and emerging markets.

LPL Financial added Ingham Retirement Group to its broker-dealer and RIA custodial platforms.

The number of deals for RIA firms jumped in the first quarter, according to new research from Schwab Advisor Services. But transaction value was lower than at any point in the last year.

The Louisville, Ky., firm picked up two advisors with a total of $200 million in assets.

Balances in small business retirement plans have increased an average of 20 percent between 2007 and 2012 in the aftermath of the recession.

The combination will create one of the largest regional brokerages on the West coast.

Elise Fortin, a former executive of Wells Fargo Private Bank, will be responsible for leading Umpqua Private Bank’s expansion in the Puget Sound region.