Economy

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.

The New York City based wealth advisory firm appointed Lyle LaMothe as Non-Executive Chairman of the board and Greg Franks as a managing partner and president. Chris Lappas joined the firm as the chief operating officer.

Woodbury Financial brings approximately 1,400 advisors and $25 billion in assets under management to the group’s network, which includes FSC Securities Corp., Royal Alliance Associates and SagePoint Financial.

Ronald Greenidge, the former UBS AG managing director fired for gross misconduct in his supervision of convicted trader Kweku Adoboli, sued the bank claiming it treated him more harshly than others because he’s black.

Gathering the information needed to make a career move and hiding that research from a current firm can be enough to make some advisors decide to forget it. That’s just where The Advisor Center, an anonymous online recruiting community that launches Monday, comes into play.

The average production at wirehouses is 40% higher than that of banks, and yet those advisors don't have an existing customer base. Why is that?

In On Wall Street's sixth annual ranking, the young hotshots of The Street talk clients and strategy. Here's how this year's top 40 advisors under 40 conquered a tough market.

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Royal Bank of Canada, the first Canadian lender to report fourth-quarter results, said profit rose 22 percent on higher trading and investment-banking fees, beating analysts’ estimates.

Treasury Secretary Timothy Geithner offered Republican House Speaker John Boehner a proposal to avert an end-of-the-year fiscal cliff that would trade $1.6 trillion in tax increases for $400 billion in unspecified entitlement program cuts, a Republican aide said.