Economy

A complaint that Schorsch instructed ARCP executives to shift numbers in the company’s second-quarter results to cover up errors from the first quarter is part of a defamation suit against ARCP, Schorsch and former ARCP Chief Executive David Kay, according to The Wall Street Journal.

An attorney for Jorge Posada and Jose Contreras says ballplayers were "victims of fraud, taken advantage of at every turn."

Regulators penalized both the independent and employee channels of Wells Fargo for failing to properly screen over 200,000 customer accounts.

Raymond James' independent broker dealer lured away two advisors producing $1.85 million from Morgan Stanley.

Wells Fargo Advisors is increasing several advisor bonus awards, while its core payout grid will remain unchanged next year.

From the family feud that rocked Nicholas Schorsch's REIT and IBD empires to LPL's regulatory lapses and a wealth management crisis sparked by a CEO's private fund, the advisory industry had a healthy share of lowlights in 2014. Here are some of the most memorable.

"He clearly wouldn't be walking way [from American Realty Capital] if things were business as usual,” says Aite Group analyst Alois Pirker. “The optics are just not very good."

An advisor joined BB&T Scott & Stringfellow to become the firm's latest wirehouse recruit.

With nearly 16,000 firms managing $2.4 trillion in assets, Cerulli predicts the RIA industry will capture 28% of retail investor assets by 2018.

A couple who bought a business using money from their self-directed IRA faced a big tax bill as the value of the business increased; Plus, how to transition your clients before you retire.

Raymond James & Associates lured away a wirehouse team with $116 million in AUM.

The wirehouse named former football pro and advisor William Thomas to head the firm's San Francisco complex.

From the breakthrough performance of 'robo advisors' to Schorsch's big grab, the advisory industry has seen major changes in 2014. Here's a look at the most important events and trends pushing the industry forward this year.

The National Adjudicatory Council upheld an earlier ruling finding Wedbush liable for failure to file accurate and on-time reports of customer complaints and broker registrations.

RCS Executive Chairman Nicholas Schorsch and two other top executives resigned from American Realty Capital Properties.

A Wells Fargo team left the wirehouse to join Raymond James & Associates.

UBS advisors with growing practices may earn more money in 2015.

An advisor managing $181 million in assets left Morgan Stanley for the Swiss firm.

TK

Merrill Lynch compensation remains mostly the same next year, with some tweaks to smaller accounts.