Recruiting Roundup: Raymond James Grabs $2M Team from Wells Fargo, Davenport
Meanwhile, Merrill Lynch adds a wealth strategist in Miami; Focus Financial draws large RIA in New York.
BofA Wealth Profits Fall in Q4; Morgan Stanley Shows Mixed Results
Merrill Lynch says its advisors had close to $1 million in yearly fees and commissions in 2015.
Q4 Profits Up 15% at Wells Fargo’s Wealth Unit
Morgan Stanley and Merrill Lynch will report their financial results on Tuesday.
Recruiting Roundup: $400M Team Leaves First Allied for DFPG
In other news, Raymond James says a bank group has become its latest institutional affiliate.
Morgan Stanley Brokerage Chief Exits, Kelleher Named President
CEO James Gorman said to plan longer tenure; Colm Kelleher gains oversight of wealth management unit.
Who Wins, Who Loses With New DOL Rule? $3 Trillion in Play
Morningstar's Stephen Ellis looks at the costs, benefits of DOL fiduciary rule, says $3 trillion in assets will be affected.
Ex-JPMorgan Bankers Accused of Stealing From the Dead
Two personal bankers stole $400,000 from inactive accounts, prosecutors say; “preyed” on accounts in Brooklyn, police say.
JPMorgan Wants Ex-Worker Found in Contempt Over Poaching
Bank says ex-employee Salvatore Alesia is improperly soliciting former clients after joining Morgan Stanley.
Raymond James Grabs Wells Fargo Rep in Denver
Veteran advisor Robert Campbell comes on board with an associate and some $190 million in client assets.
These Will Be Wall Street’s Most In-Demand Jobs Next Year
Job cuts and shrinking bonuses dominated headlines from Wall Street this year, so it’s easy to forget pockets of the industry are booming.