Financial institutions

Errors and omissions insurance premiums are rising. A proposed fiduciary standard for advisors would drive the cost up further, according to insurance specialists.

Raymond James is recruiting the industry's top talent at the expense of the wirehouses.

Wells Fargo is adding Bob Vorlop and Joe Nadreau to its executive, according to Mary Mack, president of Wells Fargo Advisors.

A Morgan Stanley broker and the managing clerk at the law firm Simpson Thacher & Bartlett LLP were arrested today for an insider-trading scheme that authorities said netted $5.6 million in illicit profit.

Community banks are revamping branches and offering new services in an effort to become trusted advisors to small businesses. Such a transformation is often easier said than done.

Janney Montgomery Scott recruited a veteran Merrill Lynch advisor with $1 million in production.

The firm continues its recruiting bonanza with the addition of an advisor-team from Morgan Stanley with more than $1.3 million in production.

Morgan Stanley plans to merge its institutional and wealth management municipal desks to provide more efficient trading services

RBC Wealth Management is adding new names to its top executive team, announcing a new head of International Wealth-USA.

Raymond James has done it again. The firm has stolen away a Merrill Lynch advisor-team with $200 million in assets under management, marking its sixth major recruitment win in the past two weeks.

Raymond James appointed a new COO for its Private Client Group as well as a replacement North Atlantic regional director.

The firm grabbed a team with $2.5 million in production for its independent broker-dealer channel.

The commission is committed to moving forward on a uniform fiduciary standard for advisors and broker-dealers and also expects to finalize money market reforms by the end of the year.

Raymond James is on a recruiting spree, poaching million-dollar teams from Merrill Lynch and Wells Fargo, and now grabbing a UBS team with $1.9 million in production for the company's Charlotte, N.C., office.

Raymond James enticed away an advisor with $2.2 million in production as well as several associates from Merrill Lynch for its Cincinnati office.

Upstate New York banker John Buhrmaster discusses the regulatory challenges small banks face, his issues with big banks and why smaller banks need to take a serious look at charging more for the services they offer.

"We're seeing more inquiries like this," says Dynasty president and CEO Shirl Penney. "As the opportunity presents itself, we think more teams will see the advantage of joining to achieve scale, size and get more bang for their buck."

Detroit agreed to pay $77.6 million to UBS and Bank of America's Merrill Lynch unit to end interest-rate swaps that have cost taxpayers more than $200 million since 2009, according to a court filing in the city's bankruptcy.

Profit sharing lies at the heart of Edward Jones' compensation plan, as the firm aims to grow its advisory staff and assets under management by more than a third by 2020.

A Morgan Stanley wealth manager first learned about financial planning and client service working in her grandfather's restaurant.