Economy

The bank created a new unit that houses its Marcus online lending business and credit-card venture with Apple.

The changes are the firm's latest steps in a broad reorganization of its wealth management business since it hired Iqbal Khan from rival Credit Suisse.

Rivals will be waiting to seize on any changes that may irk some 4,400 representatives poised to operate under a new parent IBD network.

The record level of transactions — as well as long-term industry shifts — often prompt advisors and other wealth management professionals to assess their options.

The advisors left Wells Fargo, signaling Stifel’s recruiting push will extend into 2020.

In the 1960s, iconoclastic reformers started a campaign to kill fixed brokerage fees. Today, we’re witnessing the logical culmination of that effort.

BlackCrown tried to call foul on Schwab’s anticipated acquisition, asserting it would become an “unlawful monopoly” and stifle innovation in the custodial marketplace.

While advisors have embraced cheaper trades, the move may have long term effects on strategies for client portfolios.

Among the new recruits is an 11-person team.

More often than not, wirehouses were on the losing side of these moves.

Supervisory failures at LPL Financial, J.P. Morgan Securities, Morgan Stanley, Merrill Lynch and Citigroup prevented assets from moving to beneficiaries on time.

This recently passed bill is groundbreaking retirement legislation and will substantially alter the landscape for employer-sponsored retirement plans and individual savers.

“Everything’s on the table for consideration,” the bank's chief financial officer told investors. “He’s certainly not beholden to decisions that we made previously.”

The additions came amid a revamping of the firm’s independent advisor compensation.

The new hires signed on with the firm’s employee broker-dealer.

With Portfolio Intelligent Income, the discount brokerage is shifting some of its focus toward clients ready to spend their investments.

One size fits all? The single form for disclosure of client-advisor relationships applies even if firms offer multiple products and services.

The SEC says broker-dealers may treat investment advisors as if they were subject to the AML Rule — under certain conditions.

With the industry closely watching the complex integration, the selling network's parent divulged how it struck the $1.3-billion agreement to form a giant IBD.