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A turbulent 2023 led to fourth-quarter declines in net new assets, net income and banking deposits at the financial firm.

The banking giant's plans are an outlier in an industry that has been shedding jobs.

With few new advisors coming into the industry but total U.S. assets growing rapidly, Morgan Stanley, Wells Fargo, Merrill and others are having to up their compensation game and distinguish themselves in other ways if they want to capture a larger share of the wealth pie.

How the big firms compare with each other in their advisor headcounts, assets under management and other attributes.

Cash is making a resurgence in financial planning, offering both advisors and clients the opportunity to grow.

The exit of the shuttered regional bank's wealth arm to JPMorgan overshadowed a highly profitable year for the BNY Mellon unit that houses the giant custodian.

The Internal Revenue Service and the Treasury Department told businesses they won't have to report on the digital assets they receive until regulations are issued.

The firm's wealth and investment unit contributed more than half of the Wall Street giant's profits and revenues for 2023.

The TAMP developed its new tools after consulting with a group of financial advisors on the design and functions.

The bank's wealth management and investment management units have been standouts in recent years.

The asset and wealth division helped drive the gains, posting its highest quarterly revenue in two years on a gain tied to the sale of a financial-management business. That helped counter fixed-income trading results and investment-banking fees that fell short of expectations.

Retirement plan sponsors and their financial advisors receive guidance from the IRS on how the Secure 2.0 Act opened the door for "de minimis financial incentives."

The Internal Revenue Service provided initial guidance to aid employers in establishing pension-linked emergency savings accounts, an outgrowth of the wide-ranging SECURE 2.0 Act of 2022.

As a whole, the megabank saw its net income rise by 9% in 2023's final quarter. But its wealth management unit was another story.

The firm's wealth management co-head said that recent changes to its pay grid have been favorably received.

In a change that may affect financial advisors and tax professionals' clients, the agency reversed course on a position it took seven years earlier.

Robinhood and a few other trading app providers immediately announced support for the newly approved spot bitcoin ETFs. But Vanguard announced this week it would not allow customers to invest in them.

The gains in assets under management come as the banking giant continues to add to its advisor headcount.

In 2023, seven tech stocks dominated the Nasdaq 100. Analysts expect 2024 to be different.

The deal would end an investigation into Morgan Stanley's employees' handling of stock sales big enough to move markets.