Wirehouses

Wells Fargo is adding Bob Vorlop and Joe Nadreau to its executive, according to Mary Mack, president of Wells Fargo Advisors.

A Morgan Stanley broker and the managing clerk at the law firm Simpson Thacher & Bartlett LLP were arrested today for an insider-trading scheme that authorities said netted $5.6 million in illicit profit.

Janney Montgomery Scott recruited a veteran Merrill Lynch advisor with $1 million in production.

The firm continues its recruiting bonanza with the addition of an advisor-team from Morgan Stanley with more than $1.3 million in production.

Morgan Stanley plans to merge its institutional and wealth management municipal desks to provide more efficient trading services

Raymond James has done it again. The firm has stolen away a Merrill Lynch advisor-team with $200 million in assets under management, marking its sixth major recruitment win in the past two weeks.

The firm grabbed a team with $2.5 million in production for its independent broker-dealer channel.

The commission is committed to moving forward on a uniform fiduciary standard for advisors and broker-dealers and also expects to finalize money market reforms by the end of the year.

Raymond James is on a recruiting spree, poaching million-dollar teams from Merrill Lynch and Wells Fargo, and now grabbing a UBS team with $1.9 million in production for the company's Charlotte, N.C., office.

Raymond James enticed away an advisor with $2.2 million in production as well as several associates from Merrill Lynch for its Cincinnati office.

"We're seeing more inquiries like this," says Dynasty president and CEO Shirl Penney. "As the opportunity presents itself, we think more teams will see the advantage of joining to achieve scale, size and get more bang for their buck."

Detroit agreed to pay $77.6 million to UBS and Bank of America's Merrill Lynch unit to end interest-rate swaps that have cost taxpayers more than $200 million since 2009, according to a court filing in the city's bankruptcy.

A Morgan Stanley wealth manager first learned about financial planning and client service working in her grandfather's restaurant.

Merrill Lynch Wealth Management is putting the spotlight on advisor training with its appointment of Racquel Oden as head of new advisor development.

That makes for two big recruits in two days. A day after announcing the addition of a $1 million team from Wells Fargo, the firm has landed a second million-dollar team.

The firm has enticed away an advisor team with $1 million in production from Wells Fargo for its Bartlett, Ill., office.

The husband-and-wife team is the eighth team to join HighTower’s New York headquarters.

With the advisor population aging and looking to retire, more wealth management firms are stepping up their efforts to recruit and train a new generation of advisors.

The firm has landed an advisor team with $225 million in assets under management from Morgan Stanley.

John Lindsey, who left Edward Jones in 2012 and won a FINRA arbitration case against his former firm last summer, has launched The Bold Advisor to provide support, guidance and information to breakaway advisors.