UBS

The claim alleged negligence, fraud and misrepresentation, according to the regulator.

One of the biggest notable losses came from Merrill Lynch, which lost a team managing $1 billion to the independent space.

The shake up could strand investors with hard-to-trade securities.

The firm was defined by a culture of “no, no, no,” a top headhunter says as part of On Wall Street’s annual recruiters roundtable.

BMO Wealth Management aims to modernize its investment service and give planners better equipment. Others offering automated advice solutions include UBS, Wells Fargo and JPMorgan.

Dean Hoover is the latest advisor to join the Raymond James-affiliated independent firm.

Despite leaving the Broker Protocol, UBS continues to selectively recruit high-end teams.

The firm is seeking to buy wealth management assets more aggressively after gaining greater clarity from global regulators on how much capital the bank will need over coming years.

The bank sometimes ignored the advice of its own diligence vendors in packaging and selling loans.

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