Financial institutions

UBS AG, the Swiss lender shrinking its investment banking business, overtook Bank of America Corp. to top a ranking of the world’s biggest wealth managers compiled by Scorpio Partnership.

In an effort to expand its presence in northern New Jersey, RBC Wealth Management has added the Levy Tebeleff Group, formerly of Morgan Stanley, to its Parsippany office.

Michael Brannam and Patrick Brannam will join the firm’s Jacksonville, Fla., branch, where they will be equal partners of Brannan Wealth Management of Raymond James.

Merrill Lynch Wealth Management hauled in four advisors with $434 million in assets from Morgan Stanley.

FINRA has delayed consideration of a highly contentious proposed rule on recruitment compensation disclosure.

Baird has been on a hiring spree in an attempt to bolster the retirement planning services it offers to oil and gas industry professionals in Texas.

A Philadelphia district court handed down a $100,000 fine and six-month prison sentence for allegedly unlawful trades.

When wirehouse brokers consider shifting to independence, they need to weigh a lot of factors and ask a lot of questions. John Stuart and Mag Black-Scott of Beverly Hills Wealth Management provide 11 questions that should be top of mind before making the move.

A trio of advisors from Wells Fargo, RBC and Morgan Stanley have joined Stifel.

Just days after luring another Morgan Stanley advisor, Stifel announced the hiring of longtime Morgan Stanley veteran Richard Linnihan.

Timothy Throckmorton will oversee and help grow the personal trust and estate administration business.

Wedbush picked up a legacy Morgan Keegan advisor in Texas.

The companies announced an agreement to merge Acacia into Stifel Bank and Trust, the investment bank and brokerage's $3.9 billion-asset bank. The terms were not disclosed.

Once lost, a reputation is hard to regain, and it’s costing financial services companies hundreds of millions in sales.

Gen Y planners foresee RIAs booming and perceive fundamental flaws within the wirehouse model. They see advisors making big mistakes with next generation clients. They have fears about the future of the industry along with some ideas on how society should change to create a more financially secure world.

Investors overreacted to Federal Reserve Chairman Ben S. Bernanke’s comments that the central bank could reduce monthly bond purchases, Goldman Sachs Group Inc. Chief Executive Officer Lloyd C. Blankfein said.

With a new managed accounts platform, Merrill Lynch advisors will be able to turn to one website instead of five to answer a single client question – “How am I doing?”

Stifel has picked up a former Morgan Stanley advisor who oversaw $374 million in assets.

Increasing emphasis on client satisfaction may be changing the way wealth managers get paid and how they are evaluated.

Benjamin Edwards has added offices in Canton, Ohio and Abilene, Kansas., growing the firm to 33 branches in 17 states.