Economy

RBC Wealth Management lured away a wirehouse advisor managing $116 million in assets from Wells Fargo Advisors.

Deutsche Asset & Wealth Management grabbed a financial advisor from rival Barclays.

Lebenthal Wealth Advisors has recruited a former wirehouse branch manager and two independent advisors to fulfill its growth plans.

An independent advisor managing $165 million has joined Ameriprise's employee channel.

Alex Vicencio, a financial advisor at Wells Fargo, says that building a business one client at a time was the biggest challenge he faced as an advisor in his 20s.

The Denver-based association announced Friday that it has grown in 2014 to more than 10,000 members and certificates worldwide.

Profits are up at wealth management firms, and executives are taking stock of their priorities and goals.

The changing nature of retirement for clients is an opportunity for firms. "They’re still going to need advice, but the advice is going to take on a different form," says Merrill Lynch's John Thiel. "It is moving from investment advice to life advice."

Keith Banks, president of U.S. Trust, is searching for new talent in a unique place: within his own firm.

Stifel has been busy building its business with little public profile. The firm wants to change that, says President and CEO Ronald Kruszewski, who acknowledges that the lack of attention thus far has probably been a good thing. "You want to be famous; you don’t want to be infamous."

In an exclusive set of interviews with On Wall Street, the industry's leading executives talk about how clients' needs are changing, technology is evolving and how firms can keep growing the bottom line.

Mary Mack is not only president of Wells Fargo Advisors, she’s a client too. In an exclusive interview with On Wall Street, Mack talks about what it’s like being a Wells Fargo client, the direction of her firm and the changing landscape for advisors.

Janney Montgomery Scott lured away a husband-wife team from Wells Fargo Advisors.

FINRA promotes Richard W. Berry to lead its arbitration unit.

Deutsche Asset & Wealth Management spells out its plans to serve wealthy clients with complex needs and demands.

Raymond James Financial's private client group contributed to record profits for the company on strong performance.

Ameriprise's executive vice president says the firm has spent a lot of resources, especially in the major markets and major cities, establishing training programs to bring new advisors into this business.

Ameriprise CEO Jim Cracchiolo credited growth in the firm's fee-based businesses and wealth management unit for the company's robust overall performance.

"This is a head-on counterattack and is definitely making the [digital] space a lot more competitive," says William Trout, a senior analyst for Celent.

Edward Jones Managing Partner James Weddle says the firm grows organically, recruiting from colleges and even the military for new advisors.