Economy

The wirehouse’s pipeline for incoming brokers is at a two-year high.

The hire comes about a week after the boutique wealth manager lost a similarly-sized team to rival Morgan Stanley.

Wealth Enhancement Group has also grown organically by more than $1 billion each of the past two years.

James Gorman dismissed any speculation after the unit posted record revenue and pretax profit in the second quarter.

Dynasty CEO Shirl Penney sees it as an option down the road.

The beleaguered bank has suffered from attrition since a fake accounts scandal rocked the firm in 2016.

The SEC’s 564-page rule shows the new disclosure could prove time-consuming, even vexing, for firms.

The offering would mirror a similar move by Charles Schwab to offer clients a new pricing plan for its robo service.

With 7 million accounts and more than $400 billion in assets, Karl Roessner’s firm can be selective as it expands into wealth management.

More than one-third of the $1 billion new assets on the digital advice platform are from new clients.

The brokerage may pay about $2 billion for the additional advisory clients, according to reports.

David Ahlquist is the latest addition to the firm’s growing employee broker-dealer.

Some plan to downsize to an inexpensive town nearby.

Independent Advisor Alliance also started a robo advisor under Betterment for Advisors after adding more than $2 billion in assets over the past 12 months.

Home prices are outpacing wages in about 40% of markets, while 61% were less affordable than the historic average, data shows.

Cathy Bessant is among executives who remain in talks with Wells Fargo, while JPMorgan Chase’s Gordon Smith won’t be taking the job, according to people with knowledge of the situation.

Even as the wirehouse has cut back on recruitment, the hire of two new industry veterans show it’s still looking for top teams.

Summit Brokerage Services will fold 450 advisors into one of the 41 OSJ regions under Cetera Advisor Networks this summer.

Robert Limmer made the move after less than a year at Gladstone Wealth Group.

Once selected, the chapters will begin a two-year centralized testing process.