Economy

CEO Jim Cracchiolo acknowledged that the firm attracted fewer experienced reps in the second quarter, even as its headcount ticked up by 2%.

In a session at the industry trade group’s conference, planner Lazetta Rainey Braxton connected racial and financial literacy.

Sen. Wyden’s bill would give the benefit to currently ineligible professions while curbing its use by wealthy business owners.

A new high in loan volume and a notable influx of advisory AUM drove the wirehouse’s business to more than half a billion dollars in second-quarter net income.

CEO James Gorman says the company has created something new by adding Solium and E-Trade to its existing force of financial advisors.

Higher equity values and client activity pushed up the major custodian’s revenue in the second quarter, despite significant headwinds.

FINRA arbitrators decided not to hold the major custodian liable for transactions prior to 2008, an attorney for the clients says.

The megabank announced second-quarter revenue of $4.1B for the Asset and Wealth Management unit, with net income of $1.2B.

The expanding employee channel firm aims to support practice recruiting efforts and help usher in the next generation of advisors.

Kristin Kimmell brings decades of experience and notable success as the replacement to the former head recruiter promoted only last year.