Wirehouse advisors

The giant independent broker-dealer said Wednesday that it had created a new channel to target wirehouse advisors with high net worth practices.

A pair of advisors caught up in long-standing recruiting litigation will lose money from an earlier FINRA award in order to pay penalties to their former employer.

Officials are looking into the banking giant's anti-money laundering measures with clients outside the U.S.

Even with an exodus from the acquired firm, the Zurich-based bank managed to pull in $22 billion in net new client money in the third quarter.

Despite recruiting efforts, firms have struggled to bring in new blood, making retention more important than ever.

The inquiry into Wells Fargo comes at a time when clients can often secure much better rates of return through money markets and certificates of deposit.

Some think the firm needs to become better known if it's to reach its growth goals.

Financial Planning's Top 40 Brokers Under 40 rankings recognize the industry's top elite young producers among broker-dealer firms. Nominations are now open for the 2024 edition.

The nine-person team specializes in working with ultrahigh net worth clients, including private equity partners and company executives.

Morgan Stanley's wealth management inflows slow in third quarter

Merrill president and co-head Lindsay Hans said the firm is well-positioned for the "largest asset-gathering opportunity that FAs have seen in decades."

The leaders of the group specializing in serving high net worth families were seeking to run their business entirely on a fiduciary basis.

The Wall Street giant is staggering under its plan to shift back to serving primarily the ultrawealthy.

A new Cerulli report found that the 10 largest broker-dealers hold 58% of retail AUM, in the wake of rapid consolidation among the top 25 BDs.

CEO Charlie Scharf said the bank's troubled wealth unit had 'treaded water' for a while, but showed signs of recovery as client assets and fee income grew.

All eyes will be on the incoming veteran executive as the banking giant seeks to take advantage of expected growth in global wealth.

The banking giant also reported a whopping 36% increase in net income for its banking and wealth management unit.

The Wall Street giant is seeking to enforce contract clauses meant to keep former employees from working for rival firms or reaching out to clients for six months.

The team, led by three experienced industry players, will work out of the Philadelphia office the Swiss banking giant opened in August.

Naratil sees the new CEO as the right person to deliver on integration with Credit Suisse.