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The firm also reported that its advisor ranks were up 2% year-over-year, boosted by its training program.

Some of the biggest changes come when industries collide.

Fourth-quarter profits ticked up a modest 1% year-over-year to $659 million even as number of advisors dropped 2%.

The new tax law is expected to drive more money into investment products and push stock and bond prices even higher, says CEO Laurence Fink.

The industry group is seeking restrictions on how brokers can describe their services and responsibilities.

Convert property taxes into charitable donations? Sue the federal government? How officials in California, New York, New Jersey and Connecticut might fight new caps on state and local tax deductions.

While banks will likely benefit from the lower rate, the new law requires charges in the near-term.

Local jurisdictions in high-tax states are grappling with changes and headaches from the tax overhaul.

Banks' online advice platforms are just the face of a deeper effort to restructure client data and adapt to a digital era.

If clients miss an RMD, they will be subject to a penalty equal to half the amount they should have taken, and they'll still owe ordinary income taxes on distributions.