Regional banks

A group of family trusts has lost a $7.56 million arbitration claim that highlights the difficulties of winning individual claims tied to various Morgan Keegan funds that have fallen under regulatory scrutiny.

Looking to bolster its wealth management division, the bank has tapped Steve Sokic to lead the ultra-high net worth, trust, fiduciary and tax divisions.

A spate of new hires from Wells Fargo accompanies the opening of Benjamin Edward's 26th office in Northfield, N.J.

The Kentucky-based firm has hired a former Merrill Lynch advisor with $29 million in AUM.

Despite a tough third quarter, RBC Wealth Management is doubling down and investing in an ambitious growth strategy as it looks to come out ahead post-crisis.

Robert Ceccarelli and John Hursh collectively manage more than $148 million in assets and produce nearly $1 million in revenue. They will join Ameriprise's employee advisor channel and be located in the New Haven, Conn.

After a decline in advisor headcount and legal expenses hurt revenue, the firm continues to invest in efforts to expand its retail brokerage unit.

The Robinson Reuter Group brings $250 million in assets under management to RBC's La Jolla, Calif., office.

Barclays Plc recruited a team for its wealth and investment management division from Morgan Stanley Smith Barney that includes former New York Jets wide receiver Wayne Chrebet.

Benjamin F. Edwards has opened a new Kansas office staffed with four former Wells Fargo advisors.

Programs to strengthen bank liquidity, facilitate credit and buy mortgages were good moves, though it is hard to say how much worse things would have been in their absence, Federal Reserve Board Chairman Ben Bernanke said at the Jackson Hole summit.

After founding his own financial planning practice in 1983, Thomas Morrison has rolled up his firm, Morrison Financial Services, this year and joined St. Louis-based Benjamin F. Edwards as vice president-investments.

Despite record income for the whole company, RBC's wealth management division reported a significant drop in revenue and net income.

The firm moved Paul Patterson into the position of Deputy Chair, RBC Wealth Management, ultra-high net worth international.

A review of auditors that examine broker-dealers has unearthed an array of deficiencies in the process the firms use to evaluate their clients, including numerous of infractions that could amount to violations of SEC or FINRA rules.

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

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

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

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

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."