Economy

Activities unfolding within 3 separate industry rulemakers -- the SEC, FINRA and the Labor Department -- suggest changes ahead for both brokers and advisors.

Despite a recent show of political opposition, the Labor Department seems poised to press ahead with a proposal to broaden the definition of fiduciary to cover advisors working in the retirement plan segment, a leading opponent of the measure warns.

The answer rests not with the firms but with advisors themselves, says James Kerr, president of Davidson Companies.

Demand is high for experienced executives across all channels. While advisor migration to independent RIAs remains the dominant trend, large wirehouse and bank players are also very much in the game for talent.

“We’re not maniacally focused on how many advisors we have affiliated with the firm,” says Scott Curtis, president of Raymond James Financial Services.

Mary Mack, Wells Fargo's new brokerage chief, plans to put more retail clients into managed accounts as the largest U.S. firms nudge advisers away from picking individual stocks.

The first U.S. exchange-traded fund tracking China’s domestic stocks will lure investors seeking exposure to a broad range of industries in the biggest emerging economy, according to Societe Generale SA’s private bank.

Advisors in the field, or those who cover multiple bank branches, will be able to electronically transport clients’ documents in an easier format.

The U.S. is in the midst of an economic revolution akin to the Industrial Revolution of the late 1700s and early 1800s, says Raymond James strategist.

Mitsubishi UFJ Financial Group’s securities joint venture with Morgan Stanley will take a majority stake in the Japanese bank’s wealth-management business, deepening ties between the two firms.

With the launch of a new Institute for Sustainable Investing, the firm is looking to add $10 billion in client assets to its socially responsible investing platform.

Umpqua Bank's plan to grow the private banking business to 10 times its size by 2018 may shift into high gear if its parent company's planned acquisition of Sterling Financial Corp. is approved.

Wells Fargo President and CEO Danny Ludeman discusses the challenges of marketing and winning new business.

U.S. Trust's Keith Banks says being a part of bank of America helps him deliver more than just wealth management services.

Bob McCann, CEO of UBS Group Americas, says while independent channels are making in-roads and can't be ignored, the threat doesn't keep him awake at night.

Tash Elwyn, President of the Private Client Group at Raymond James, discusses succession planning.

Morgan Stanley's Greg Fleming sees managed accounts as the crown jewel of his business, and expects only minor changes in wealth management in the coming decade.

Merrill Lynch's John Thiel predicts that in the not-too-distant future, RIAs will grow up to look just like their wirehouse competitors.

In this special expanded report on wealth management, On Wall Street’s editor interviewed ten of the most influential executives in the industry to find out where the business is heading, what challenges keep them up at night, and how they’re working to create a sustainable business model that puts clients first while maximizing company revenue, all in the face of increased regulatory scrutiny. Read their insights and observations in the State of Wealth Management.

Jim Weddle, managing partner at Edward Jones, the opportunity for financial advisors is huge as baby Boomers seek expertise as they start seriously saving for retirement.