The wirehouse is tweaking how it calculates advisers' payouts.
Meanwhile, the investment bank announced plans to launch a digital wealth manager in the U.S. next year targeting affluent clientele.
Press releases touting recent hires fall short in the effort to make the financial advice industry more diverse.
James Gorman of Morgan Stanley and Charlie Scharf of Wells Fargo both took time during their earnings conference calls to share some thoughts about their RIA competitors.
The process of switching investment accounts from one firm to the another is one of the most anxiety producing events in the work life of a financial adviser.
Unpaid arbitration awards have been a consistent stain on the retail securities industry. Brokers have been walking away from paying investors for years.
Firm leaders and executives should aim to broaden their potential talent pool and professional networks, says Schwab's Leslie Tabor.
The former broker, Dalas Gundersen, sued Edward Jones in 2015, seeking damages, after three fake gay-sex ads were posted on Craigslist earlier that year listing his business phone number.
The new adviser development program is up and running with 750 advisers. Some of the new recruits could be already licensed to sell securities, but don't have a background in financial advice, according to the company.
In July, Charlie Scharf said that indie brokers were 'underutilized.' In the latest quarter, the number of advisers declined 2.1%.
