Economy

Unscrupulous advisors are finding safe havens, and fear no regulatory body.

The Bank of America unit that serves ultrawealthy clients picked a Merrill executive to oversee its Central North division.

Raymond James is seeking to undo a fired advisor's arbitration win against the firm, arguing that a FINRA arbitration panel exceeded its powers.

The new recruits made the move to HighTower from Morgan Stanley and SunTrust.

Implementing the rule is a key legacy goal of the Obama administration.

Although an arbitration panel sided against the wirehouse, it awarded her far less than the $476 million in damages she had sought.

The veteran advisor joined the firm as Credit Suisse exits the U.S. wealth management market.

The advisor joined Wells Fargo's independent network.

An arbitration panel found that a client's complaint about a former wirehouse advisor was "factually impossible or clearly erroneous."

Bowing to legal pressure, Lightyear says it will not try to hire 43 top executives – at least for now.

In a surprise move on Wednesday, the company went public with its plans to prepare its advisors and financial institutions for the coming regulatory changes.

Two veteran advisors overseeing over $210 million left the wirehouse this week to join the independent firm that is affiliated with Raymond James.

The broad-based price reductions could force other IBDs out of business, one expert thinks.

Fee business took hits from both the market and digital advice providers that caused banks to lower fees.

During questioning by Sen. Warren, FINRA CEO Richard Ketchum said the regulator may set up a new fund for "terribly harmed" investors.

Voices: For smaller B-Ds, there will likely be an added cost of obtaining an unbiased assessment of the consistency, accuracy and suitability of their robo tools.

The wirehouse landed another recruit, who had about $500 million in client assets, from its deal to hire Credit Suisse advisors who specialize in Latin American clients.

Royal Alliance, SagePoint Financial and FSC Securities "willfully violated" securities law and breached their fiduciary duties to clients, the commission says.

The new retirement platform will support advisors who are transitioning to the fiduciary model.

LPL's stock buyback proved to be 'sweet' deal for TPG Capital, The New York Times reports.