Economy

It's 'not what I would consider to be planning,' said RCS Capital CEO Michael Weil during a Citi Asset Management Investors Conference in New York.

The firm also said it had recruited a wirehouse team with $2 million in annual revenues.

Yes and no, experts say. But it's a thorny issue given that many IBD advisors consider themselves fiduciaries and do most of their business through RIAs.

Two Morgan Stanley advisors managing about $150 million in assets moved to the regional broker-dealer.

A team that produced $3.1 million in annual revenue moved between wirehouses.

The review is likely to start with broker-dealers and their platforms; It will coincide with a second, more targeted phase of the commission's cybersecurity sweep.

The firm's employee channel picks up two financial planners from brokerage M.J. Whitman.

Banks and credits unions have only about one-third of the total advisors they need to provide "a really good client experience," says executive at BISA's 2015 annual convention.

At least three senior BofA executives with long ties to Merrill Lynch have departed the division headed by Montag since bonuses were paid last month.

The firm agreed to pay $225,000 for failing to adequately supervise its registered representatives, one of whom allegedly bilked elderly clients of over $300,000.

Raymond James & Associates tapped a former Morgan Stanley exec and RIA co-founder as regional director.

Advisors Patti Brennan and Judy Rubin offered tips on communicating value to new clients.

Wealth managers from separate teams moved to the wirehouse.

Advisors must do a better job nurturing new women advisors and engaging female clients. Even so, AIG Advisor Group CEO Erica McGinnis has high hopes for women in the industry moving forward.

CFO moves up as departing exec heads to asset management shop.

Management roles at the wirehouse have shifted following the announced departure of a key executive.

James Gorman and other executives got performance-based stock awards that have more than doubled in value since they were granted three years ago.

To court young talent, banks are reimagining their ads for positions like call center agents and video tellers as YouTube clips. They are also finding ways to make applications easier to fill out on mobile devices.

Two groups representing five advisors left Morgan Stanley to join RBC.

After 18 years with LPL, veteran advisor Edward Metz leaves for more personalized service at the smaller BD.