Economy

Janney has hired two advisors from Morgan Stanley and Raymond James with $91.6 million AUM.

Ameriprise Financial has hired three financial advisors from UBS, Raymond James Morgan Keegan, and HSBC.

Independent broker-dealer Securities America is pressing ahead with its aggressive recruitment campaign, hiring three regional directors to help attract prospective independent advisors, the firm announced Tuesday.

Since the start of the year, Regions has hired 102 financial consultants and is aiming for 125 by year-end. It is looking to build an advisor force of 160 to 170 by the end of 2014.

Julius Baer Group said increased client trading boosted margins as Switzerland’s third- biggest wealth manager integrated Merrill Lynch businesses acquired from Bank of America Corp. last year.

First-half revenue at the six biggest U.S. banks climbed for the first time in four years, fueling profits and vindicating Bank of America Corp. and Morgan Stanley leaders who presided over stock slumps.

Smaller signing bonuses and shorter contract terms are on their way, says recruiter Mark Elzweig, and an aging advisor population is to blame.

It’s a tricky act, being both big and personal. But organizers of LPL’s 23rd annual conference are aiming to strike this balance, according to one of its organizers.

Founder Eric Schwartz is making big plans to preserve the firm’s independence and viability for the long term -- by giving away control now.

Northstar Wealth Partners, the largest LPL Financial-affiliated wealth management firm in Connecticut, has nearly doubled its assets under management to just under $2 billion -- by recruiting two advisors formerly with Essex Financial Services in Essex, Conn.

Morgan Stanley and Goldman Sachs Group Inc. led Wall Street banks in posting a collective 42% increase in equities-trading revenue in the second quarter, the largest jump in more than three years.

Securities America has ramped up the fierce competition for independent advisors, launching a new RIA targeting advisors with between $50 million and $250 million assets under management.

Morgan Stanley, owner of the world’s largest brokerage, reported a 66% earnings increase that beat analysts’ estimates as trading revenue jumped and wealth- management profit margins climbed.

One Major League All Star was unsure of whether he’d reach the big leagues as a minor-leaguer in Mobile, Ala. So he lined up an internship at Morgan Stanley.

Bank of America’s Global Wealth and Investment Management business posted strong growth across the board in the second quarter.

The division, created in 2001 and made up of affiliated RIA firms who custody their assets with Raymond James, now includes about 100 firms, approximately 250 advisors, and more than $8 billion in assets.

According to the new arrangement, Raymond James will send one advisor to join the bank to represent the program to clients and prospects at several locations.

Private banking, trust and brokerage units have each enjoyed periods when they were the big guys on campus. But now no one group is more important than the other.

With a new branch manager, the St. Petersburg, Fla.-based firm forays into an increasingly competitive Seattle market.

Goldman Sachs Group Inc. said earnings doubled, beating analysts’ estimates on a surge in underwriting revenue and gains from the firm’s own investments.