Financial institutions

Banks are lining up behind Capital One to launch robo platforms even as they gird for an initial hit to their brokerage business.

Meanwhile, the SEC hints that more actions could follow the $425 million in penalties levied against the brokerage firm.

Wells Fargo, Morgan Stanley, Bank of America and J.P. Morgan Chase were among the dissenters, people familiar with the matter said.

The wirehouse was hit with sanctions from the SEC and FINRA for disregarding securities rules, misusing clients’ cash and not disclosing product costs.

Eleven executives were tapped this year to lead wealth management and related investment services groups at Key Private Bank, Regions Bank, U.S. Bank, Wells Fargo Private and Wilmington Trust. Find out who they are and what their new roles entail.

Sandra Pierce will assume her role once Huntington completes its acquisition of FirstMerit.

Some call it 'relentless,' but scouting for the best candidates has resulted in a better array of services from the industry's top firms, says leading recruiter Mark Elzweig.

BIC took a fresh look at its top program managers and re-ranked them based solely on team assets under management.

Three industry veterans – one with more than four decades of experience – oversaw more than $205 million in client assets, according to Raymond James.

The wirehouse's latest hires will support client development and strengthen product delivery, according to Morgan Stanley.

Industry insiders say wealth management is going through its biggest upheaval in decades.

"It was terribly important to us that we were participating and supporting a partnership with a firm that is innovating and has strong backing," said Richard Steinmeier, head of the Wealth Advice Center at UBS.

Some wirehouse branch managers have made the transition to the independent channel, but doing so takes careful planning, experts say.

The new recruits are opening a new office for the independent firm.

The branch is staffed by 22 advisers, most of whom are recent recruits from Credit Suisse.

The UBS Americas president explains why he thinks the industry's pursuit of top talent has gone too far.

The Gryphon Group generated $1.3 million in production before leaving the wirehouse.

Analysts and industry insiders are divided as to what impact the wirehouse's revamped plan may have on rival firms and breakaway advisers.

President Tom Naratil says the firm will recruit less, spend more on advisers already at the firm and give additional power to branch managers.

Prior to her financial services career, the recruit was a U.S. Army reservist working as a Russian linguist.