Economy

Regulators are contacting the bank after financial details of some 50,000 clients were inadvertently sent to an outside party, according to a person with knowledge of the matter.

Social Security numbers and portfolio information for some high-net-worth clients and advisors was provided inadvertently as part of a lawsuit.

Firms still rely heavily on commission income despite drops last year.

Stan Leavitt said he was drawn to the regional firm for its culture and financial planning capabilities.

The four advisers joined the more than 500 lost by the wirehouse in the last nine months.

Rising markets boosted revenues for wealth- and asset-management arms at the largest U.S. banks to $18.4 billion in the second quarter, according to data compiled by Bloomberg.

What used to be a complex and expensive barrier to entry for independent RIAs has now become much simpler and cheaper.

The firm needs a digital advice offering for clients who don't want a traditional relationship, CEO James Gorman said.

The increase in real estate exposure is an “extraordinary move," according to an industry observer.

The new complex manager will oversee 43 advisers at the regional brokerage.

Convinced that clients want as much human interaction as ever, the Wall Street firm is using machine learning to help its financial advisers stay informed and work efficiently.

"I don’t have one yet, but I want one," says Tom Halloran, president of Voya Financial Advisors.

The firm also said it has benefited from low attrition and its training program.

The advisers previously worked at RBC Wealth Management, with one of them making the firm’s Chairman’s Council.

The two advisers bolted in a quarter that saw their ex-firm lose 130 advisers.

The nation’s largest IBD plans to launch a platform with load-waived shares from 20 companies.

This is the second time Jefferies has poached Miami-based adviser talent from the wirehouse.

Depending on business mix, some advisers could see a pay cut.

Despite hiring pullbacks at the larger firms, there's been no shortage of multibillion dollar moves.

Marketing and sales strategies are better received when firms provide information advisers are actually seeking.