Merrill Lynch

She'll now be responsible for supervisory operations at one of the largest firms she once helped regulate.

The bank aims to have a total of 4,000 representatives by year-end in Merrill Edge, which now has 2.4 million accounts and $184.5 billion in assets.

Wirehouses have been losing talent as advisors seek more freedom in how they structure their practices.

The firm’s headcount increased 8% in just one year.

The new hires from Merrill Lynch and JPMorgan are welcome news for the embattled bank’s wealth management division.

Berkery will be succeeded by Michael Blum as the chairman of UBS Bank USA. A Merrill Lynch alum, Berkery was part of the turnaround team at UBS' wealth management unit, and during her tenure, the lending book at its bank more than doubled in size.

The organization awarded millions to firm insiders that provided information in a 2016 case against BofA.

Merrill Lynch, UBS and others made considerable alterations to policies and procedures in order to be compliant with the Labor Department regulation.

The broker-dealer has been scooping up talent from its rivals for months.

Financial planners are wary of text-only service options, arguing they would contribute further to the commoditization of advice.