Economy

Looking at the range of services received by clients in all advisory channels, traditional wirehouses take the lead in catering to high-end client needs, according to research from Cerulli Associates.

A continuity plan should be simple and spell out how unexpected interruptions could affect the business and how to safeguard the firm, employees and clients.

Agency secures $4 billion in penalties; expert says: “make sure that you have a robust and dynamic compliance program.”

Around 80% of KMS' advisors, who are about equally divided between fee and commission-based business models, are based in Washington, Oregon and Idaho.

Morgan Stanley Wealth Management saw profits jump 17% for the 3rd quarter, despite a 1% drop in the firm's advisor workforce.

Fidelity Investments is telling investors and advisors that clients' data appears not to have been captured by the hackers who infiltrated the systems of JPMorgan Chase earlier this year. And while clients aren't yet worried, advisors say, such threats are unlikely to go away.

Deutsche Asset & Wealth Management lured away a managing director from J.P. Morgan.

Stifel Financial brings in a veteran Morgan Stanley advisor for a newly created client office in West Chester, Pa.

The SEC plans an enforcement action against a former Wells Fargo compliance officer for altering report.

The SEC has yet to produce or even propose any binding rules regarding cybersecurity, but officials have been sending strong signals that they expect firms of all sizes to put in place policies and procedures to protect sensitive information.

Waddell & Reed picked up an advisor from rival Edward Jones.

Bank of America said wealth management profits were up 13% year-over-year and reported an increase in its advisor ranks. The company reported that profits for its Global Wealth & Investment Management division, or GWIM, which includes Merrill Lynch and U.S. Trust, increased to $813 million for the third quarter from $720 million a year ago. …

Assets under management among SEC-registered advisors increased 12.6% in 2014 to $61.7 trillion in April, according to an industry report.

In tapping a discharged LPL broker, broker-dealer Wunderlich Securities could face 'reputational risk' and legal headaches, observers say.

Wealth management advisory work has evolved from the retail brokerage days of the 1980s, when advisors were considered salespeople.

Wells Fargo said that third quarter net income for its wealth management division rose 22% year-over-year.

Female advisors from Raymond James' Private Client Group got a mix of planning tips, technology tricks, strategic advice and female empowerment.

A Morgan Stanley advisor duo with $213 million in AUM has left the wirehouse to join RBC Wealth Management.

A former UBS broker was ordered to pay back the wirehouse $1.75 million of his recruiting bonus – the third such million-dollar judgment against him this year.

FINRA barred a Chicago-based broker after it was discovered he transferred over $1 million from client accounts into his own over a number of years.