Wirehouses

A recent report about bad incentives for brokers "did not accurately reflect how we do business and serve our clients," said Jon Weiss, head of wealth and investment management.

Clients were allegedly steered into investments maximizing revenue for the bank and employees.

The bank is said to have been aware of the accusations for years.

The newly independent advisors added a new team and are looking to bring on more practices.

Planners are seeking the independence and support that they say they aren’t getting at wirehouses.

She'll now be responsible for supervisory operations at one of the largest firms she once helped regulate.

The bank aims to have a total of 4,000 representatives by year-end in Merrill Edge, which now has 2.4 million accounts and $184.5 billion in assets.

The broker belonged to Morgan Stanley's Chairman's Club, a group reserved for the elite among the firm's advisor ranks.

The wirehouse hires will aid Advizr's focus on reaching smaller broker-dealers, says chief executive Hussain Zaidi.

Despite leaving the Broker Protocol, UBS continues to selectively recruit high-end teams.

Wirehouses have been losing talent as advisors seek more freedom in how they structure their practices.

The firm is seeking to buy wealth management assets more aggressively after gaining greater clarity from global regulators on how much capital the bank will need over coming years.

The firm’s headcount increased 8% in just one year.

The new hires from Merrill Lynch and JPMorgan are welcome news for the embattled bank’s wealth management division.

The bank sometimes ignored the advice of its own diligence vendors in packaging and selling loans.

The departure is the latest in a string for the wirehouse, whose broker ranks have shrunk by more than 300 over the last year.

The move comes more than three months after Morgan Stanley and UBS quit the agreement.

The broker-dealer has been scooping up talent from its rivals for months.

James Van Steenhuyse will oversee the firm's planned growth in the region.

The unit will provide specialized services for private banking, international and institutional clients."