Economy

The bank looked to one of its own to replace the current wealth management and insurance division head.

Two advisors go independent with Raymond James, looking to structure their practice without wirehouse limitations.

FSI endorses IBD head Brian Kovack for FINRA post; Kovack hopes to win mid-sized IBD seat in which he would says he would represent firms, not investors.

The Wayne, N.J.-based bank chose Cetera Financial Institutions because it believed the firm could help the bank expand its service offerings into the mass-affluent market.

A recruit who worked with $658 million in client assets moves between the wirehouses.

Advisors aren't so happy this year, in particular due to changes in comp plans and subpar leadership, according to the new J.D. Power study.

A trio of advisors leaves the wirehouse for the independent channel at Raymond James.

Rival Edward Jones has grown and wants to keep on growing.

"If we don't grow, then we abdicate that opportunity to our competition," says James Weddle, managing partner of Edward Jones, which hopes to surpass Morgan Stanley as the industry's largest brokerage by headcount.

Customers continue to be underwhelmed by banks’ customer service. Even worse, young customers see very little difference in services from one bank to another.

The wirehouse lured away a team that managed $750 million from Barclays, which recently announced a deal to sell its U.S. wealth management division to Stifel.

The wirehouses aren't fading yet, but many independents argue that these firms will need to change dramatically to retain market share.

Two veteran advisors went independent with Dynasty, dwarfing the firm's previous recruits.

Merrill Lynch lured back three advisors after seven years with rival UBS.

Leaving the wirehouses for independence can be worth it, but be prepared for the unexpected, advisors say.

"LPL is a different place than when we started there 11 years ago," says CBD Wealth Management partner Robert Comeaux, Jr.

Things have changed and will continue to do so; advisors shouldn't be deterred.

KeyCorp in Cleveland has hired Gary Poth as head of its family wealth division at Key Private Bank.

A Morgan Stanley exec and other industry experts urge financial planners to embrace this approach to making investments, popular with both millennials and women.

JPMorgan sued six former executives who defected to rival Morgan Stanley, seeking a court order blocking them from enticing clients to follow.