Industry

Raymond James has lured away two advisors managing $100 million in client assets from UBS.

Rep. Spencer Bachus (Ala.) is the first Republican in Congress to endorse the Investment Adviser Examination Improvement Act.

The panel is comprised of seven public members and six industry representatives, pulling together advocates, attorneys, regulators and executives from firms such as Citigroup, Morgan Stanley and Securities America.

Assets under management at UBS rose to $1.97 trillion, cementing its No. 1 spot in the ranking by Scorpio Partnership, a London-based consultancy.

Founders of IHT Management hope to create a wirehouse-like alternative to lure other advisors.

J.P. Morgan enticed advisors from competitors, including Morgan Stanley, Merrill Lynch and Wells Fargo, in a half dozen markets to fuel its nationwide expansion of wealth management.

As part of its FP50 special report, Financial Planning tracks the breakdown between fee and commission revenue. Here are the IBDs with the highest percentage of fee revenue.

Baird and McAdams Wright Ragen will combine offices in Portland, Ore., following Baird's recent acquisition of the Seattle-based broker-dealer.

Despite record revenues from wealth management, Bank of America reported that profits slid 43% due to $4 billion in litigation expenses.

A Morgan Stanley team that managed over $650 million has gone independent using a new consultant.