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A $1.6 million producer left J.P. Morgan to rejoin the Canadian bank's U.S. brokerage.

The firm reported solid growth and record advisor productivity in its wealth management business.

David Darnell, a 35-year-veteran of the bank, will leave at yearend in another round of executive changes for the bank owner of Merrill Lynch.

Banks reeled in $36.4 billion in record first-quarter wealth management revenue, up 4% year-over-year.

Recruiting stayed strong as Raymond James reported a 6% increase in quarterly profits for its wealth management unit year over year.

Though the industry reaped 34% profit margins and global AUM rose 10.5% to $67 trillion in 2014, revenues rose only 6.3% to $319 billion, while fees dropped an average 40 basis points.

Blackstone will sell an investment reporting service that it created initially for its own use to Ipreo, a data provider it acquired last year.

The biggest financial firms simply have too many financial resources and technology know-how to allow upstarts to undermine what has become a core business and earnings stream.

By simplifying investments as much as possible, Acorns appeals to millennials who want to invest.

The top rankings change considerably when the B-D networks are considered as single operations. Here's an all new top 10 list.