Wirehouses

Two wirehouse advisors who oversaw $140 million in assets joined the super regional's employee advisory ranks.

Advisors should understand the personality styles of their branch managers for financial success, job satisfaction and comfort within their own firm.

"The bar of expectations among advisors has been raised by their experience with a best-in-class website," says the author of a new report in which advisors ranked fund managers.

Collectively, the new recruits from Wells Fargo, Morgan Stanley and A.G. Edwards managed a total of $600 million in assets before joining the firm.

These leaders are finding it more difficult to keep a balance between advisors and their firms.

Three advisors were stripped of their CFP designations, 13 were suspended and seven were publicly admonished for technical infractions.

The recruit oversaw $160 million in client assets while at Merrill, according to a UBS spokesman.

The group was responsible for about $425 million in client assets.

Better technology, cultural differences and bigger deals have enabled regional firms to recruit more competitively and keep up the momentum.

Recruits from Edward Jones, Morgan Stanley and Barclays leave for the wirehouse.

The wirehouse picked up the Blaustein Clancy Financial Group in New York.

Both wealth managers, who left UBS, also had a combined $289 million in client assets before making the move, RBC said.

One of the advisors managed about $200 million in client assets while working for the wirehouse. The other joins a $500 million team at Janney, the firm said.

Three advisors left the wirehouse to join the independent brokerage network at Wells Fargo.

Total client assets for the wirehouse also rose to a record $2.047 trillion, edging it into the no. 1 spot past rival Merrill Lynch.

An arbitration panel granted the wirehouse's request for damages for breach of contract, but the award fell short of the original $1.4 million the firm sought.

Quartet of advisors with $175M in AUM joins Raymond James' independent operation.

Bank of America and its Merrill Lynch unit were sued by two former financial-advisor trainees who claim they weren’t paid overtime for long days and weekend work.

The challenge for traditional firms like Wells Fargo Advisors, says its new digital head, is taking the reputation it has built through one-on-one client relationships over years and translating that for a digital age.

But net income drops at Merrill Lynch and U.S. Trust, according to first quarter earnings.