After helping to build up the largest IBD over more than a dozen years each with the firm, they've landed in recruiting and financial advisor support roles.

The incoming recruits from midsize rival LaSalle St. come as the top IBD sets headcount records and acquires the $40-billion asset Financial Resources Group.

Planners warn that clients still need financial education to understand the ins-and-outs of new plans.

The bank is moving away from direct wealth management services in order to tap into an unmet need for many independent financial advisors, its CEO said.

Popular brokerage is letting investors put retirement money into traditional and Roth IRAs.

Bank of America is slowing hiring as fewer employees leave in an attempt to manage the company's headcount ahead of a possible U.S. recession, Chief Executive Brian Moynihan said.

JPMorgan Chase is planning to increase headcount in its Latin American private-banking unit by about 25% next year as the firm looks to attract more clients with $5 million to $25 million to invest at the bank.

The joint project with one of the largest advisory practices in the firm's tax-focused brokerage displays how wealth management firms are backing their OSJs.

More tax savings means happier clients and potentially wealthier financial advisors.

The deal follows at least 14 transactions made by the consolidator this year. Other firms are expanding by forgoing M&A in favor of just recruiting financial advisors.