Financial institutions

The wirehouse is sending executives to Credit Suisse offices to deliver the firm's pitch, and will fly advisors out to its headquarters in St. Louis next week.

Chief Executive Paul Reilly acknowledged that the firm has been exploring potential acquisitions, but declined to discuss specific targets with analysts during an earnings call.

The firm's wealth management unit reported that growth in client assets was flat year-over-year, and declined $20 billion from the previous quarter to fall to $433 billion.

The new recruits have gone over to the independent side of Wells Fargo, opening practices s in two states.

Jim Weddle, head of Edward Jones, says his firm won't develop a robo advisor, but adds that competitive pressures are pushing the entire industry to up its digital game.

The wirehouse pulled over four advisors from rivals Merrill Lynch and Morgan Stanley.

The German bank has faced questions and criticism in recent years about its internal controls.

The team generated $2.9 million in production before switching wirehouses.

Four advisors left the wirehouse to join regional broker-dealer Benjamin F. Edwards.

The firm said wealth management profits rose to $509 million for the third quarter, boosted by lower compensation expenses.

An advisor who had been at Merrill Lynch for 20 years left the wirehouse to join UBS.

An advisor who moved to a wirehouse from a boutique offers guidance on finding a firm that will offer greater job satisfaction and also benefit clients.

If you take only one message from a rather tumultuous 2015, you might want to consider this: Build your practice with a firm where retail wealth management is a core business.

Barclays lost a team to RBC, the latest defection since the British-owned firm agreed to sell its brokerage unit to Stifel. This is the first to go to a regional brokerage instead of a wirehouse or high-profile boutique.

Jim Weddle, managing partner of Edward Jones, says the firm hasn't been finding as many quality recruits as it would like.

Wells Fargo reported that even as profits rose, client assets for the firm's retail brokerage unit shrank 4% year-over-year.

Bank of America said profits for its wealth management unit, which includes Merrill Lynch, fell 19% year-over-year. Meanwhile, Merrill's advisor force increased 6%.

CEO Tidjane Thiam said he plans to allocate more resources to wealth management and strengthen the bank's position in Asia, while scaling back the investment bank, mirroring an approach of UBS.

An ex-wirehouse advisor sought damages for libel and other misconduct against Merrill.

Credit Suisse's losses include a three-member team that generated $7.2 million in annual revenue, which joined UBS.