Economy

Upstate New York banker John Buhrmaster discusses the regulatory challenges small banks face, his issues with big banks and why smaller banks need to take a serious look at charging more for the services they offer.

"We're seeing more inquiries like this," says Dynasty president and CEO Shirl Penney. "As the opportunity presents itself, we think more teams will see the advantage of joining to achieve scale, size and get more bang for their buck."

Detroit agreed to pay $77.6 million to UBS and Bank of America's Merrill Lynch unit to end interest-rate swaps that have cost taxpayers more than $200 million since 2009, according to a court filing in the city's bankruptcy.

AdvisorGroup announced Monday that Rick Fergesen has been named as president and CEO of one of its four independent broker-dealers.

Most businesses start out small, and many don't survive. But for advisors who take the long-term view, there is a wealth of opportunity.

Profit sharing lies at the heart of Edward Jones' compensation plan, as the firm aims to grow its advisory staff and assets under management by more than a third by 2020.

A Morgan Stanley wealth manager first learned about financial planning and client service working in her grandfather's restaurant.

Independent broker-dealer network Advisor Group has a new CEO with big goals. First on the list: Find acquisitions.

Broker-dealers have managed to control the terms of the regulatory debate. Advisors: It's time to watch your language.

Esther Stearns is working with financial software maker Guide Financial in its quest to "carry the NestWise torch."

Merrill Lynch Wealth Management is putting the spotlight on advisor training with its appointment of Racquel Oden as head of new advisor development.

As four officials begin terms as volunteer chairmen of CFP Board councils, a former panel chairman highlights the challenges they may face.

That makes for two big recruits in two days. A day after announcing the addition of a $1 million team from Wells Fargo, the firm has landed a second million-dollar team.

'There will be absolutely no pressure to sell any of our products,' says RCS chairman Nicholas Schorsch, who built a fortune on nontraded REITs but has recently been acquiring several big independent B-Ds.

A survey of 500 mass affluent investors by an industry association finds -- conveniently -- high awareness and use of nontraded REITs.

The firm has enticed away an advisor team with $1 million in production from Wells Fargo for its Bartlett, Ill., office.

For RCS advisors and brokers, the sweet spot will be individuals and families with $300,000 to $3 million in investable assets, Schorsch says.

RCS Capital wants to buy an investment research firm, an RIA and a family office -- and hold a major industry event modeled on Charles Schwab's annual Impact conference.

Royal Securities to pay $175,000 in FINRA fines over non-traditional ETF sales, church bonds and other violations.

The husband-and-wife team is the eighth team to join HighTower’s New York headquarters.