Economy

If the graying financial services industry is to replenish the ranks of retiring advisors and brokers, firms and trade groups must take a more active role in promoting the field to millennials, says Pershing's Mark Tibergien.

Community bank leaders entered 2014 with a rosy view of their companies' prospects, according to a new survey from Abound Resources.

As the Financial Services Institute marks its tenth anniversary, the trade group is focused on expanding its advisor membership and ramping up its advocacy on legislation and regulation at the state level.

Morgan Stanley Chairman and Chief Executive Officer James Gorman’s compensation package for last year includes a $5.06 million stock bonus that’s almost double his 2012 equity award.

Raymond James & Associates' branch manager of the year has grown his complex's annual revenue to $32 million from $4 million and boosted client assets to $5 billion.

Raymond James Financial reported strong profits for the first quarter, with growth led by the company’s asset management and private client group divisions.

UBS has added a team of six former Morgan Stanley advisors to its office in Atlanta.

The firm is expanding its operations, pulling talent from RBC Wealth Management and Wells Fargo Advisors.

Dynasty Financial Partners has hired Ronald Sallet as senior vice president of network development, making good on its promise to boost business development in 2014.

The IRS has released a set of proposed regulations to prevent abuses of the partnership basis adjustment rules, disallow partnership loss transfers and avoid some of the abuses uncovered by the Enron scandal.

Assets managed by dually registered advisors are growing faster than any other channel -- underscoring the industry's "slow but steady migration" toward independent models, according to new research from Cerulli.

Morgan Stanley posted strong revenue growth for the fourth quarter led by record earnings for the firm's wealth management division -- a sign of how far the firm has come since acquiring Smith Barney.

The principles that served him well in selling Paine Webber to UBS, Donald Marron says, helped him pull the trigger to sell Cetera.

RCAP buys J.P. Turner for $27 million; Schorsch is calling IBDs, large and small, in search of deals, says Cambridge's Schwartz.

Northwestern Mutual is fishing for talent -- and it's using 6,400 hooks.

Morgan Stanley reported profit that beat analysts' estimates as equity-trading revenue increased and earnings from wealth management climbed to a record.

On the heels of a companywide rebrand, some advisors think 'Here we go again'; others are happy with the change.

Gearing up for more stringent regulations ahead, SIFMA is calling on regulators to better coordinate efforts and craft a business-model neutral fiduciary standard.

RCS Capital moved to become the nation's second-largest independent broker-dealer by advisor count on Thursday by agreeing to purchase Cetera Financial Group for $1.15 billion in cash.

Bank of America's wealth management unit produced strong profits for the fourth quarter of 2013, and did so with fewer advisors.