Economy

Financial crises will not be a suitable excuse for oversight in suitability according to the regulator’s decision against Merrill Lynch.

Grabbing a top executive from one of the world's premier technology companies, LPL Financial has nabbed a top technology officer from Dell Inc. to help lead the independent broker-dealer's technology effort.

Raymond James will be instrumental in helping the program transition to fee-based business from transaction-based business.

Many Americans are in the dark about stock market performance in 2012, according to an Edward Jones survey.

Two teams with over $1 million in production have joined Merrill Lynch in St. Paul, Minn., and Ithaca, N.Y.

A little more than a year after launching Retirement Ready, a retirement income program for its advisors, John Hancock Financial Network today announced the launch of a new iPad application and updates to the program.

Bank of America Merrill Lynch has refocused on growing fee-based and banking business and boosting client retention.

Beverly Hills Financial Planners, Informative Financial Services, and Ranker-Hanshaw Wealth Management are the newest firms to join Royal Alliance, which has nearly 2,000 affiliated independent financial advisors.

Determined to keep its 48-year-old firm’s “small, hometown feel,” Investors Security of Suffolk, Va., has decided to drop its own broker-dealer and affiliate with Securities America.

The husband-wife team of Joe and Penny DiRago have been hired by Wells Fargo in San Antonio.

The Securities and Exchange Commission has initiated cease-and-desist proceedings against the former board members of five registered investment firms, alleging that they failed to maintain appropriate fair-market valuations of debt securities that comprised a substantial portion of the companies' portfolio.

Baird's director of estate planning reminds clients that just because they can make large tax-free gifts this year, doesn’t mean they should.

LPL Financial, the nation’s largest independent broker-dealer, announced Monday that Legacy Financial Planning has transitioned to its broker-dealer platform.

Recruiters question if the new compensation model will be enough to sway advisors.

The firm has modified payouts to encourage asset growth and will allow advisors to buy into company stock as part of a deferred compensation program.

Raymond James has lured an LPL team of financial advisors in Towson, Md., that will operate under its independent broker-dealer.

Wall Street’s cost cuts and dismissals, which have helped erase more than 300,000 financial- industry jobs in the past two years, are far from over.

In the first half of 2012, bank and thrift holding companies generated $59.4 billion in wealth management income, down 6.6% from the year before.

The credit union cited CUSO’s technology platform and tools that allow members to manage their investment and insurance needs.

Morgan Stanley Wealth Management has added eight financial advisors from rival firms Merrill Lynch and Barclays.