Wirehouses

The settlement would apply to advisors who participated in the firm’s deferred-compensation plan from February 2011 through January 2020.

One of the new hires oversees more than $300 million in client assets and has more than 30 years in the business.

Wealth management is playing an ever bigger role at the firm, which aims to add a million new clients in the coming years.

Some of Wall Street's most prominent executives have this in common: a long tenure.

The wirehouse boosted profitability even as advisor headcount dropped.

The firm plans to entice new customers through its stock plan administration and financial wellness businesses.

The firm added 40,000 new accounts last year and hit a record $3 trillion in client balances.

The size of the firm's class compares with 145 last year.

The bank continues to struggle with attrition due to scandals, regulatory scrutiny and a graying workforce.