Economy

The new hire signed on to the regional broker-dealer during a recent wirehouse recruiting binge.

Ronald Kruszewski says a shift in the size of transition packages, made in response to the fiduciary rule, "benefits us competitively."

Planners will have control over the service, which will not be available directly to clients, according to the firm.

The firm also scooped up a market manager from Stifel.

The wirehouse will make “many” of the pricing and product design changes it planned last year, include lowering commissions for trades involving stocks and ETFs “to the benefit of our clients,” according to an internal memo.

The wirehouse also reported record revenue of over $2 billion for the recent quarter.

The new recruit generated more than $1 million in annual revenues, according the regional firm.

Regional directors are “sorry to see Doug go," a Cetera adviser says. Tom Taylor, now COO, will take his place.

On Wall Street's annual ranking of successful young planners.

The recruit generated $2 million in annual production, according to Merrill.

One barred broker borrowed funds from clients without approval, according to FINRA.

The wirehouse's new hires oversaw $466 million in client assets, according to a spokesman.

On Wall Street's annual ranking of successful young planners.

The new recruits joined the firm's independent and employee channels.

Too much growth has led to a slowdown in business efficiencies. Smart firms need to fix their operating models.

The adviser reversed course after Merrill Lynch unveiled plans to phase out commission-based retirement accounts as part of its plan to comply with the Department of Labor's fiduciary rule.

The firm's latest hire had spent 17 years at Raymond James and its predecessor firm, Morgan Keegan.

Recruits from Morgan Stanley and RBC joined the independent firm affiliated with Raymond James.

On Wall Street's annual ranking of successful young planners.

The former Fidelity RIA head replaces a 30-year company veteran.