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BNY Mellon has opened its first wealth management office in the Cayman Islands as part of an effort to expand the firm’s global capabilities to serve international clients, the wealth manager announced Wednesday.

The acquisition of Birmingham, Ala.-based Chitwood Advisory Group marks Atlanta Capital’s second wealth management acquisition since June 2011.

The Global Investment Committee of Morgan Stanley Smith Barney said in its January 2012 market commentary that it expects not just Europe, but the United States, to slip into recession.

Raymond James’s retention bonus offers to Morgan Keegan’s financial advisors are starting to trickle in following the deal to acquire the firm earlier this month and so far it looks like they’re being graded on a bell curve.

The Global Investment Committee of Morgan Stanley Smith Barney said in its January 2012 market commentary that it expects not just Europe, but the United States, to slip into recession.

State Street Global Advisors is not only going to sell its own funds and partner with other asset managers that do not have the regulatory wherewithal to go it alone.

BNY Mellon has opened its first wealth management office in the Cayman Islands as part of an effort to expand the firm’s global capabilities to serve international clients.

New M&A data from Schwab seems to suggest that the RIA space is not consolidating as fast as some have predicted it would – though the final analysis depends on how you define consolidation.

Raymond James reported net income of $67.3 million for the first fiscal quarter of 2011, an 18% decline from the first quarter of last year and 2% fall from last quarter.

Edward Jones is rolling out a new national recruitment force to help the firm hire a targeted number of 747 financial advisors in the U.S. and Canada this year.