Economy

"Optimizing choice for our clients … is critical to how we operate as a firm," CEO James Gorman said during an earnings call where the wirehouse reported net revenue was a record $3.9 billion last quarter.

Paul T. Lebel excessively traded shares that carried large front-end loads and "willfully disregarded the customers' interest," the agency said.

A $2.2 billion Morgan Stanley team's move to independence shows how breakaways use shell companies to take advantage of the legal pact, and why more than 1,500 firms have signed on.

The firm's digital advice service, to be piloted in early 2017, is a bid to give RIAs unprecedented scale.

The new recruits are the 10th team to join HighTower this year.

The regional brokerage firm picked up recruits from Wedbush Securities and Merrill Lynch.

Headcount rises for the 11th consecutive quarter for the wirehouse, which is prepping for the Department of Labor's fiduciary rule.

Net income for the wealth management unit rose to $677 million from $606 million for the year-ago period.

News that LPL may be looking for suitors comes at a time of financial pressure for the country's largest independent broker-dealer.

The bank has already taken action in instances of staff misbehavior, according to Chief Financial Officer Marianne Lake.

The No. 3 U.S. bank by assets has made a change at the top after a snowballing scandal involving the creation of fraudulent accounts.

Shareholders shouldn't hold out too much hope for a takeover and here is why.

Industry experts survey the field of potential suitors.

The wirehouse's latest hire will help ultrawealthy clients with estate planning and other services.

The regional firm’s latest recruit joined its employee channel after 17 years at the wirehouse.

Will Morgan Stanley's John Perry, the current No. 1, return to the newest ranking? Or will a new young professional take the top spot? Here's a chance for advisers to join this elite group.

After the fiduciary rule was announced, it wasn’t clear how brokerage firms would adapt. Here's why the wirehouse is a standout on its approach to the new regulation, and why one competitor isn't.

The Wells Fargo scandal has given the sale of loan and bank products a bad name, but experts say that, done right, it is a crucial revenue driver.

The firm's latest recruit has more than three decades of industry experience and previously worked at Wells Fargo Advisors.

With LPL Financial potentially exploring a sale of itself, we look back at some of the biggest deals over the last few years.