Corporate governance

Recruiters say the moves show how wirehouses will continue to fight an uphill battle as they struggle to keep experienced teams from moving on in the coming year.

The GameStop saga is long over, but the retail investors who drove it could turn into long-term clients if wealth management firms adapt to changing times.

Industry recruiters see the changes as intended to make client assets and advisory teams "stickier" and to retain executive talent.

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.

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

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

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

The renewal of a major clearing and custody contract reflects how the BNY Mellon-owned firm is trying to win business from a burgeoning cast of rivals.