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For advisors with $600,000 in annual production, regional firms like Janney and RBC have been reducing their compensation in recent years. They're now more in line with the pay policies more commonly found at large Wall Street firms.

In the first quarter, the firm's FiNet channel for advisors working as independent contractors recruited advisors with $9 billion in client assets.

Top executive Jane Fraser dismisses speculation Citi wants to buy a U.S. retail bank while touting surging revenues for the megabank's wealth unit and the firm as a whole.

Finance and education veteran Walter Rendon wants to ensure that more young people get the training and mentorships that helped him break into the field.