Economy

The new recruit joins the regional BD from Hilliard Lyons.

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

James Gorman earned $22.5 million after the firm made progress toward financial targets and its stock rose by a third.

One of the bank's new recruits comes from the wirehouse's elite Private Banking & Investment Group, which serves ultrawealthy clients.

Once a top-producing planner at LPL, Carson now possesses a direct line to the CEO.

Gap in coverage concerns older clients; planners are also taking a closer look at HSAs.

The costs of complying with the fiduciary rule may cause many smaller independent broker-dealers to disappear. Advisor Group plans to take advantage of this trend.

The large community bank will look to LPL to help the investment services business meet the requirements of the fiduciary rule.

Matrix Wealth Partners, partly owned by Fuld, will complement Matrix Advisors, a consulting firm that Fuld set up after Lehman's 2008 bankruptcy.

Their attorney said he would instead file claims in arbitration.

An ongoing heavy focus on the business unit has benefited the overall firm.

Growth will be “in line with what we did in the last few years,” says the bank's group CEO.

One of the new recruits says his group was attracted to the firm's platform and culture.

The spat between the firms started when the regional BD recruited a group of advisers who collectively oversaw about $1.1 billion in client assets.

Even among the wealthy, a growing number of clients want more digital engagement, says CEO James Gorman.

James Gorman laid out plans for the wealth management unit, which turned in record earnings for the fourth quarter.

Coding and other billing system errors were to blame, according to the regulator.

The advisory business ended the year on a strong note, boosted by growth in net interest income, which rose 14% year-over-year.

The move comes as a surprise; "active search" for a replacement underway.

The business, which includes Merrill Lynch, said profits were up 1.8% year-over-year, but down 9% from the previous quarter.