Corporate finance

First-quarter profits jumped almost 40% on $577 million in revenue.

Some brokers who recently left the wirehouse cited differences over its policy to cease offering commission-based retirement accounts.

While first-quarter revenue from insurance services fell 7.5% year-over-year, the overall wealth management business still managed to come out ahead.

The Buffalo-based institution generated $120 million in first-quarter revenue from trust services, up 8% year-over-year.

First-quarter revenue jumped 9% year-over-year even as the number of advisers fell by 10%.

Net income and client assets grew even as the firms' headcount continued its steady decline.

The last time the pool was smaller was in 2012, when it decided to cut large parts of the investment bank and was fined for trying to rig global interest rates.

The nation's largest IBD vows to take a “proactive approach” to the fiduciary rule.

CEO Jim Cracchiolo said the firm's efforts won't go to waste should the rule be overturned.

Ronald Kruszewski says a shift in the size of transition packages, made in response to the fiduciary rule, "benefits us competitively."

The wirehouse also reported record revenue of over $2 billion for the recent quarter.

What breakaway brokers and service providers can learn from the collapse of Sanctuary Wealth Services.

The firm is preparing for the fiduciary rule and contesting a lawsuit alleging that Raymond James allowed a $350 million fraud to be perpetuated.

Revenue in 2016 from the retail brokerage business slipped 6% to $281 million from $300 million in 2015.

While fourth-quarter revenue from brokerage services posted a sharp 20% over-over-year decline, the overall wealth management business still managed to come out ahead.

Fourth-quarter revenue jumped 19% year-over-year, while profits soared 57%.

James Gorman laid out plans for the wealth management unit, which turned in record earnings for the fourth quarter.

The advisory business ended the year on a strong note, boosted by growth in net interest income, which rose 14% year-over-year.

The business, which includes Merrill Lynch, said profits were up 1.8% year-over-year, but down 9% from the previous quarter.

Fragmented programs can squash productivity and firm growth.