With the rapid growth of the RIA industry, large wealth managers are increasingly finding ways to make money by supporting independent advisory practices.

Wells Fargo had argued that FINRA arbitration was the correct forum for a complaint brough by an ex-employing alleging the firm had used false interviews to boost its diversity credentials. Now the whistleblower will have his day in court.

The Munster Freeman Group will add to Wells Fargo's offerings for wealthy and ultrawealthy clients with offices in the Los Angeles area, Arizona and Colorado.

The wirehouse leaves its basic paygrid untouched for the fifth year in a row while giving advisors extra incentives to tout banking products and work with existing clients' children and grandchildren.

Wells Fargo CEO Charlie Scharf also points to investments into the firm's independent channel as helping to retain advisors and curtail departures to other firms.

Francisco Gil tried to claim his status as an independent contractor entitled him to tax deductions for travel, meals and marketing expenses. The IRS and a federal judge said he was in fact an employee.

Independent financial advisors get a lot of flexibility, but a study by Deloitte and Wells Fargo FiNet delves into the complexity of expanding successfully.

Merrill and Bank of America Private Bank seeks niche private equity opportunities for its ultrawealthy clients, while Goldman looks to retirement savers and Wells Fargo to everyday investors.

In an earnings call Tuesday, CEO Charlie Scharf credited brokers in the firm's branches for working with consumer bankers for a 10% increase in new assets.

In separate cases, two federal judges found that neither Wells Fargo nor LPL had a fiduciary obligation to look for clients' best interests with uninvested cash held in brokerage accounts.

A FINRA arbitration panel's decision marked a rare rebuke for a large wealth manager seeking to reclaim money it provided an advisor recruited from a rival.

Now at Wells Fargo, Matthew McCrea is accused of violating a nonsolicitation agreement he signed at JPMorgan. The suit echoes allegations JPMorgan made days earlier against a broker now at Morgan Stanley.

Goldman Sachs CEO David Solomon joined JPMorgan's Jamie Dimon in a tie atop the executive compensation rankings for the industry's largest publicly traded firms.

Like its rival Morgan Stanley, Wells Fargo saw a healthy increase in its AUM and wealth revenues before Trump's tariff policies sent investments reeling.

Goldman Sachs, Bank of America, Wells Fargo and Truist are facing pressure from ISS, Glass Lewis and SOC Investment Group over their 2024 pay packages.

Wells Fargo joins Bank of America, Citi and Charles Schwab in stepping away from its DEI policies.

Banks' latest annual reports, filed in the early weeks of the second Trump administration, provide a window into how the industry is adjusting to a new political climate.

Large banks are starting to disclose the compensation they awarded to their CEOs last year. Early signs point to a bounceback after CEO pay fell in 2023.

The can-do work ethic of the firm's northeast divisional president took him across the country multiple times — and to the top of the profession.

The big payday comes after a year in which the bank made progress toward the removal of a federally imposed asset cap.