Wirehouses

A group with $4 million in production moved between the wirehouses, saying it wanted access to the banking and lending capabilities at Bank of America.

The former Southwest Securities team had overseen $225 million in assets at the time of their departure.

Independent advisors are bucking the broader trend and going to work for wirehouses and regional firms, ditching managerial tasks for simplicity and payoff.

Advisors with 25 years of combined experience leave the wirehouse for the broker-dealer's private client group.

Two veterans left the wirehouse this week for different firms, including Janney Montgomery Scott.

The firm said pretax profits for its global advisory business rose 24% from the year ago period.

Four advisors made the move between the wirehouses.

Two advisors left the wirehouse where they generated more than $1.1 million in annual revenues.

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There is an opportunity for the industry to learn from technology and get better, said Merrill Lynch Wealth Management head John Thiel.

Competitors from traditional and digital sectors of wealth management weighed in on the debate over industry disruption at the LinkedIn FinanceConnect conference in New York.

Andrew Parish, publisher of the wealth management gossip site, admitted he failed to pay more than $341,000 in employment taxes for his recruiting business, Axiom Consulting Group.

Two advisors that produced $2.15 million in annual revenue joined Raymond James Financial Services, the firm's independent broker-dealer.

The head of UBS' Client Advisory Group Bob Mulholland is set to retire, and will be replaced by fellow executive Brian Hull according to an internal UBS memo.

Two other groups that managed more than $300 million also move to the wirehouse.

New hires join the firm's employee and independent channels.

Profits fell 1% at the wirehouse's Americas wealth management unit this past quarter, as advisor headcount continued to slide.

The trio collectively supervised about 200 advisors who oversaw more than $17 billion in client assets for UBS and Wells Fargo.

Learn how these leaders are focused on growing the advisor ranks and helping them build bigger businesses.

Management is pushing advisors in new directions, implementing more behavioral bonuses and restricting payouts on small household accounts.