Economy

Founders of IHT Management hope to create a wirehouse-like alternative to lure other advisors.

J.P. Morgan enticed advisors from competitors, including Morgan Stanley, Merrill Lynch and Wells Fargo, in a half dozen markets to fuel its nationwide expansion of wealth management.

As part of its FP50 special report, Financial Planning tracks the breakdown between fee and commission revenue. Here are the IBDs with the highest percentage of fee revenue.

Baird and McAdams Wright Ragen will combine offices in Portland, Ore., following Baird's recent acquisition of the Seattle-based broker-dealer.

Despite record revenues from wealth management, Bank of America reported that profits slid 43% due to $4 billion in litigation expenses.

A Morgan Stanley team that managed over $650 million has gone independent using a new consultant.

Benjamin F. Edwards grabbed nearly a dozen advisors and opened offices in three states.

A Morgan Stanley advisor with $200 million in assets under management has rejoined Merrill Lynch.

D.A. Davidson gets a facelift as the regional firm nears its 80th anniversary and enters a new period of growth.

Morgan Stanley has picked up five financial advisors from Merrill Lynch, Wells Fargo and J.P. Morgan.

Wells Fargo's second quarter profits rose to $5.7 billion, buoyed in part by a roughly 25% increase in profits at the San Francisco bank's wealth, brokerage and retirement unit.

Raymond James & Associates lured away a UBS advisor team managing $575 million in assets.

Many independent advisors say they consider themselves fiduciaries, even if they aren’t legally obligated to adhere to that standard of care. So why are so many opposed to the DoL's expected proposal?

Deutsche Bank's asset and wealth management unit is in growth mode in the U.S., hiring a string of managers and advisors.

Dalton Strategic Investment Services, a smaller broker-dealer firm with almost $1 billion in client assets, has joined Securities America as a super-OSJ.

Deutsche Bank, Germany’s largest lender, is relying on its money-management businesses to bolster growth, said Michele Faissola, the unit’s head.

With the acquisition of broker-dealer McAdams Wright Ragen complete, Baird has grown to more than 800 advisors and $125 billion in assets.

Morgan Stanley has lost a team that generated $3 million in annual revenue to Steward Partners Global Advisory, boosting the eight-month old independent firm's total recruited assets to more than $1 billion.

Thomson Reuters mid-year data shows that Morgan Stanley has jumped up underwriter ranks in the second quarter from the first quarter, managing a larger volume and increasing its market share.

Morgan Stanley CEO James Gorman wants to reduce advisor compensation relative to revenues, but experts warn that changing comp isn't without pitfalls.