Economy

Three advisors left the wirehouse to join the independent brokerage network at Wells Fargo.

Total client assets for the wirehouse also rose to a record $2.047 trillion, edging it into the no. 1 spot past rival Merrill Lynch.

Three wirehouse advisors joined RBC to open a new branch office.

Behind the accounting errors that knocked $4 billion off American Realty Capital Properties' market value was a hidden scheme that generated more than $900 million in managers’ fees and bonuses, investors said in a lawsuit against the company.

An arbitration panel granted the wirehouse's request for damages for breach of contract, but the award fell short of the original $1.4 million the firm sought.

Quartet of advisors with $175M in AUM joins Raymond James' independent operation.

Revenue from wealth and investment services dropped for the fifth consecutive quarter, swooning 10.7% to $7.9 million from $8.8 million a year ago.

Bank of America and its Merrill Lynch unit were sued by two former financial-advisor trainees who claim they weren’t paid overtime for long days and weekend work.

The firm picked up three recruits from the wirehouse and New York brokerage.

The regional broker-dealer reported profits of $135 million for the past year, up 15% year-over-year.

The challenge for traditional firms like Wells Fargo Advisors, says its new digital head, is taking the reputation it has built through one-on-one client relationships over years and translating that for a digital age.

But net income drops at Merrill Lynch and U.S. Trust, according to first quarter earnings.

How these leaders forge stronger relationships with advisors.

Some of the proposed exemptions could be so expansively interpreted that they permit the egregious conduct that bona fide fiduciary standards are designed to constrain.

The wirehouse reported that wealth management first quarter profits soared 18% year-over-year.

Multifamily office CEO Joe Votava cites work conflicts and family issues in his decision, while critic suggests the Camarda lawsuit is driving off leaders.

The wirehouse recruited three advisors from rivals Merrill Lynch and UBS.

A Charles Schwab advisor left the firm where he managed about $350 million in client assets, according to a firm spokesman.

The firm says they "are pleased to welcome" Thomas Buck and his team.

The proposed consolidated database would bring together BrokerCheck and IAPD and include data on unregistered financial professionals across the industry.