On Wall Street October 2016

Merrill Lynch's Stephen Stabile and others are using behavioral finance tools to make better plans for clients.

The firm is among the first to detail how its 14,000 advisers will comply with the new regulation.

The adviser, who was ranked in On Wall Street's Top 40 Under 40, is accused of conducting more than $1 million in private security transactions without notifying his employer, Hilliard Lyons.

Planners who are agile enough can easily decide on what's best for them: switching to wirehouses, other large brokerages or going independent. Also, moving quickly may help them land the best deals, says a recruiting consultant.

Advisers may want to entertain a settlement offer from the regulator, even when planners disagree with allegations made against them, says our compliance expert.

Competing in his first triathlon helped John Pierce discover the direction he needed to succeed in wealth management.