Wirehouses

Wealth management leaders are weathering current markets while aiming to jumpstart AUM growth with expanded client services and new tech tools.

Yet that wasn't Merrill's only recruiting success, as the wirehouse also picked up a team overseeing more than $500 million in client assets.

The recruits moved to the firm from Morgan Stanley, Wells Fargo, Stifel and Voya.

Vice Chairmen Dan Cummings and Sam Chapin, who helped meld the wealth management firm to the bank after the financial crisis, are stepping down.

The recruits made the move between wirehouses with two client associates.

The head of the advisory group also was returning to where his career started.

While large brokerage firms pilot digital advice platforms, D.A. Davidson is holding back to see what works and doesn’t, says a top executive.

He will join a team of ex-Merrill advisers that will oversee more than $370 million in client assets at Snowden.

The firm is not launching a standalone robo service, but says new technology will empower its roughly 7,100 advisers to better meet client needs.

The independent firm affiliated with Raymond James recruits a veteran with nearly 40 years of industry experience.

The firm's newest hire was an ex-Morgan Stanley complex manager.

The wirehouse will consider the move if “conditions remain as they are or grow worse,” CEO Sergio Ermotti says.

There's a chance clients won't be able to tell the difference if brokerages adopt uniform standards on investment products.

Earnings have been soft for the industry's biggest brokerages, but lending has helped bolster performance.

The latest intelligence on which wirehouses and regional broker-dealers are offering the biggest recruiting packages to advisers.

The proposal, which would allow more consumers to join class-action lawsuits over disputes, could drive up compliance costs. Agency director Richard Cordray wants more accountability.

Competition is driving up what wealth management firms are willing to pay advisers looking to move, leading recruiters say.

Wealthbalancer's developers say the multiple question approach employed by competing platforms is too general.

Stung by a 16% year-over-year decline in transaction-based revenue, the wirehouse looks to loans, bank products and a contingent of former Credit Suisse advisers for a bounce back.

The bank suffers net income declines, while volatility causes a slump in trading across the firm.