RIAs

Wireshouses continue to put the squeeze on advisors at the lower end of the revenue-generation scale.

The Wall Street giant has been moving away from providing in-house retail investment advice to finding ways it can support smaller firms.

The prohibition would be on most contract provisions meant to keep emplolyees from taking jobs with competitors.

The CEO of the RIA "roll-up" outfit thinks that ongoing industry consolidation doesn't necessarily mean all firms will start to look the same.

An industry recruiter said the Bank of America subsidiary has become almost "unhinged" with the amount of money it's willing to offer advisors it's recruiting.

The Bank of America wealth management subsidiary joins Morgan Stanley and Wells Fargo in no longer divulging how many financial planners it has on the payroll.

The firm's wealth management business saw strong new assets inflows in the first quarter, particularly from its business catering to family offices.

The departure comes amid continued turn at the head of the bank's wealth management ranks.

Executives say the results show the wisdom of the firm's deliberate decision to focus on high net worth clients.

The banking giant nonetheless saw strong growth in net new assets in the first quarter and a 14% jump in returns from asset management fees.