Economy

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.

Deutsche Asset & Wealth Management hired a new regional executive from J.P. Morgan.

Deutsche Bank AG, the German lender that has pledged to improve controls after criticism from regulators, hired Elizabeth J. Ford from Goldman Sachs Group Inc. as head of compliance for the Americas.

An advisor pair that jumped to Merrill Lynch after just four months with Barclays must pay back over $6.6M in hiring bonuses, FINRA rules.

Raymond James reshuffles its divisions, leading to several management appointments.

A UBS advisor managing $108 million in assets has left the wirehouse to join rival firm Merrill Lynch.

On Wall Street has dropped its minimum AUM for its annual ranking of the top 40 advisors under age 40. Who will it be this year?

An advisor team with $400 million in client assets has left Wells Fargo to go independent with the help of Dynasty Financial Partners.

One Morgan Stanley CFP uses her bankruptcy to build bridges to her clients and hone her practice.

Advisor Jo Ellen Fisher, who allegedly stole nearly $1 million from a 95-year-old client, is barred from the industry and has been sued by her former employer.