Economy

The three practices, which have a combined $673 million in assets under management, are now among the more than 540 practices nationally with the independent brokerage arm of Wells Fargo & Co.

Tampa-based JHS Capital Advisors has announced three new hires. Katie White comes from Wells Fargo, Tim Forsman from Sterne Agee, and Matthew Lovett from World Equity Group.

A Florida federal court rejected Merrill Lynch's petition to vacate an arbitration decision on Monday, clearing the way for two financial advisors to receive a $10.25 million awarded to them in April.

Deutsche Bank has unveiled a new executive committee for its newly formed Asset & Wealth Management division, with division head Michele Faissola serving as chairman.

Citigroup Inc.'s $4.7 billion pretax writedown of its Morgan Stanley Smith Barney stake probably won't reduce a profit-sharing plan's award for Chief Executive Officer Vikram Pandit that could total $24 million.

J. Kevin Stophel has moved on after 13 years with the firm to establish an independent wealth practice partnered with Concert Advisor Services and Concert Wealth Management Inc.

Lawson/Wincester Wealth Management is an independent firm in Chattanooga, Tenn., led by Matt Lawson and William F. Winchester, The team also is acquiring the existing practice of Raymond James Financial Services advisor John Goodson in Wincester, Tenn.

With all the economic uncertainty many clients may be dissatisfied and primed for switching to advisors who can relate to them on a personal level.

RBC's American wealth management unit is pushing ahead with a stronger emphasis on fee-based business, an increased focus on ultra-wealthy clients and a more aggressive campaign for its brand, according to George Lewis, group head of RBC Global Wealth Management.

A group of family trusts has lost a $7.56 million arbitration claim that highlights the difficulties of winning individual claims tied to various Morgan Keegan funds that have fallen under regulatory scrutiny.

Technology was one of the main reasons Nova Bank chose Sorrento Pacific Financial

To attract more independent advisors, HighTower has introduced two new options, the HighTower Network and the HighTower Alliance. Elliott Weissbluth, the company's CEO, said by adding these channels, HighTower will be able to attract advisors who prefer to continue to own their own practices rather than joining a partnership.

Wells Fargo Advisors has tapped an executive from Citigroup and two of its existing leaders to serve in new senior leadership roles.

President Obama will likely win a second presidential term in November, but the election's outcome for policy and investing will likely not be as decisive, according to a research report released Wednesday by UBS Wealth Management Americas.

Looking to bolster its wealth management division, the bank has tapped Steve Sokic to lead the ultra-high net worth, trust, fiduciary and tax divisions.

The U.S. Court of Appeals in Chicago today affirmed U.S. District Judge Robert Gettleman's decision last year to throw out the complaint filed against Merrill Lynch and Bank of America Corp. The Charlotte, North Carolina-based lender acquired the securities firm for $33 billion in 2009.

Wells Fargo Advisors has extended its summer hiring spree with the addition of two Morgan Stanley Smith Barney advisors with $127 million in client assets under management.

Morgan Stanley and Citigroup have agreed to a $13.5 billion valuation of Smith Barney that clears the way for Morgan Stanley to complete its acquisition of the brokerage business by June 2015.

A spate of new hires from Wells Fargo accompanies the opening of Benjamin Edward's 26th office in Northfield, N.J.

The Kentucky-based firm has hired a former Merrill Lynch advisor with $29 million in AUM.