Financial institutions

Veteran advisors Vann Wilder and Van Martin are taking their $300 million team from Morgan Stanley to Raymond James Coral Gables, Fla. office.

Julius BaerGroup Ltd., the Swiss money manager established in 1890, agreed to pay about 860 million Swiss francs ($880 million) for Bank of America Corp.'s Merrill Lynch wealth management business outside the U.S.

As Morgan Stanley Smith Barney reportedly faces changes ahead for its brokerage unit, including slashing support staff jobs, combining offices and raising production requirements, all eyes turn to how any decisions may affect its advisor force.

Neil Hattem has joined Stifel Nicolaus as a senior vice president in Los Angeles.

Proving that advisory competition is still strong, Merrill Lynch has hired a Morgan Stanley Smith Barney advisor duo with $377.8 million in client assets, and lost two other teams to other wirehouse firms.

Morgan Stanley Smith Barney has shuffled two of its top executives as it aims to bolster ties its Consulting Group business has with the firm's wealth advisory services and the clients its advisory force serves.

Looking to build out its wealth management division, SEI expects Doug Pugliese will draw clients at companies' top brass.

A former UBS AG municipal-bond executive told an ex-colleague to forget about a transaction as they discussed how to handle an expanding government probe of bond big rigging, the second man testified at trial.

Merrill Lynch Wealth Advisor Ted Murphy does not usually tell his clients that he is an Olympic silver medalist, but says that his rowing career has prepared him for the discipline that he applies to his career today.

Stifel CEO Ron Kruszewski explains why Knight Capital's survival was important following last week's costly software malfunction.

Bank of America Merrill Lynch has grown its new financial benefit plan assets to a record $20 billion this year as it leverages stronger ties between its bank and brokerage forces.

Creative Management Group will apply its ProjectDouble program in effort to help advisors double their AUM.

Citigroup Inc., the third-largest U.S. bank by assets, started an investment banking joint venture in China that will give it access to the world's second-biggest market for share sales.

An arbitration panel has struck down an investor's $1 million plus claim against Morgan Keegan's troubled bond funds, citing the standard industry warning "Past performance is not guarantee of future results."

Merrill Lynch Wealth Management has snapped up a financial advisor duo with $789.5 million in client assets under management months after they joined Barclays Wealth Management.

UBS Wealth Management Americas reported $211 million in pre-tax profit for the second quarter on Tuesday, up 28% from the same quarter last year, as the division continued to grow its financial advisor headcount.

Wealth managers are still struggling to create a full-service family office practice on a mass scale primarily because most advisors still aren't taking the entire family into consideration. Here are some ideas that can help.

The Swiss financial services firm said it suffered $357 million of losses from "the gross mishandling of Facebook's market debut" by Nasdaq OMX Group and that it will "pursue compensation for the full extent of our losses."

Morgan Stanley Smith Barney has scaled back its number of total regions to 12 from 16.

Morgan Stanley, trading at less than half of its liquidation value, could be worth as much as $32 a share in a breakup, said Michael Mayo, an analyst at CLSA Ltd.