Industry

Washington Wealth Management is continuing its rapid growth -- albeit at a slighter slower pace than its own CEO had forecast.

Questions about the future of online advice have intensified since Bloomberg LP, the multibillion-dollar data, information and media giant, said last week that it was shutting down its own online wealth management offering, BloombergBlack.

UBS AG, the Swiss lender that’s shrinking its investment banking business to focus on wealth management, said it has a business relationship with as many as eight out of 10 billionaires in Asia.

The RIA space is losing some of its brightest potential stars to higher-paying careers in banking and insurance, says recruiter Caleb Brown. Here are a few ways RIA firms can fight back.

The unit’s revenue and profit rose to new highs as productivity per advisor rebounded back to over $1 million.

UBS AG, Switzerland’s biggest bank, said gains at its investment bank fueled an increase in second- quarter profit and announced plans to buy back the fund set up by the central bank in 2008 to help it shed toxic assets.

The new portfolio management and research tool is aimed at advisors in both Raymond James' employee and independent channels.

Global Expansion Keeps CFOs Optimistic Participants in the 2013 Bank of America Merrill Lynch CFO Outlook Mid-Year Update gave the U.S. economy an average score of 58 out of 100. This figure was up from 49 in the last survey conducted late last year. The global economy received a score of 51, up from 45.

As community banks struggle with profitability, one segment offers a large opportunity for new revenue, according to George Noga, senior vice president of revenue enhancement at Fiserv: small business.

Legg Mason announced that it has appointed Dennis M. Kass, an industry veteran, as non-executive Chairman of the Board.