Economy

Morgan Stanley Chief Executive Officer James Gorman said there’s almost no chance of another financial crisis like the one that endangered his firm five years ago.

Larry Roth, former president and chief executive officer of Advisor Group, one of the country’s largest networks of independent broker-dealers, is joining Realty Capital Securities, a major broker-dealer and wholesaler of real estate investment trusts, as chief executive officer.

The bank’s new chief investment strategist is assessing the product platform and is looking to expand Webster’s investment offerings.

In a round of summer hiring, the firm brought in four advisors with a total of over $500 million in assets.

Bank of America is seeking approval of a $160 million settlement from a judge who thrice rejected requests by black financial advisers at its Merrill Lynch unit to sue as a group over alleged racial discrimination.

A 43% increase in assets under management helped the brokerage unit net a profit after spending 2012 in the red.

As summer comes to a close, we're taking a look back at some of the hottest stories this season. Whether you were on vacation or busy working -- maybe you just finally have time to catch up on reading over the long weekend -- we've gathered the summer's top stories all in one place.

As summer comes to a close, we're taking a look back at some of the hottest stories this season. Whether you were on vacation or busy working -- maybe you just finally have time to catch up on reading over the long weekend -- we've gathered the summer's top stories all in one place.

LPL is shuttering NestWise, the once-hyped unit that was launched just last year to serve less affluent customers, and has laid off 40 NestWise employees.

To do so, the country’s largest independent broker dealer expects to have a portal up and running, probably under the name AdvisorHarmony, as early as next year that will allow advisors to sift through potential partners on their own.

John Hancock Financial Network has rebranded under the name Signator Investors, as a sign to advisors of its commitment to grow the advisory side of its business.

As real estate recovers, non-listed REITs are soaring, but they haven’t been much of a hit with customers of Merrill Lynch.

Morgan Stanley has bolstered its New York office with a top billing advisor from J.P. Morgan Securities, the boutique brokerage branch of JPMorgan Chase.

UBS will pay $4.58 million to settle an investigation by regulators into whether its sales assistants were licensed in states where they did business.

A three hour pause in trading is “not going to be that big of a deal” for investors, Stifel’s chairman and CEO Ron Kruszewski says.

For traditional Super OSJs to survive and prosper over the long term, they must begin to provide a more dynamic set of services to independent advisors – who increasingly are facing greater practice management, asset management and technology complexities.

Small business owners are feeling more confident even as the economy struggles to return to a more robust level of growth.

Responding to increased client demand, the firm has launched new efforts to enhance its socially responsible investment options.

Bank of America will retain the Merrill Lynch Wealth Management brand and operations even if it dissolves the parent company, Merrill Lynch & Co.

Bank of America, the second-biggest U.S. lender, plans to merge its Merrill Lynch subsidiary into the parent company to reduce complexity and costs.