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Raymond James CEO balks at high price of RIAs
'The biggest change in the competitive landscape has been RIA roll-ups that pay prices that we can't quite figure out,' Paul Reilly says.
Stifel Financial hits new high in client assets
Since 2014, the firm's global wealth management revenue has grown by 150 percent.
Franchise Group CEO steps down amid SEC probe
Brian Kahn is exiting as CEO just months after a leveraged buyout of Franchise Group aided by B. Riley Financial.
$615M family office joins LPL from Raymond James
Bay City, Michigan-based Maier & Associates includes members of three generations of the Maier family.
SEC probes B. Riley deals with client
The agency has carried out interviews about the broker-dealer and its relationship with a key client who was linked to a securities fraud.
Stifel entices $650M team from LPL Financial
Team of seven advisors is led by a 36-year industry veteran.
Nominations are open for inaugural InvestmentNews Awards
Do you have what it takes to make the prestigious list?
Citi launches $2B private lending solution with LuminArx Capital
The two firms' capabilities aim to provide a differentiated offering.
JPMorgan’s Jamie Dimon is getting a hefty pay rise
CEO to benefit from 5% increase amid firm's strong profits.
RBC chief eyes ‘significant opportunities’ in US capital markets
Canadian bank's CEO aims to expand the firm’s share of the market.
Raymond James adds $160M advisor from Edward Jones
Frank Durrum operates as Durrum Wealth Management in Mount Pleasant, Texas.
Schwab saw decline in net new assets in Q4
'No one at Schwab is kidding themselves that everything is perfect right now,' says CEO Walt Bettinger.
JPMorgan plans to hire again as deals, wealth business grow
President Daniel Pinto also shares his views on rate cuts.
Morgan Stanley’s new CEO Pick has wealth management in his veins
Industry executive warns it will take time for Pick to earn the trust of advisors.
JPMorgan to pay $18M for blocking client contact with SEC
Firm's tactic 'not only undermined critical investor protections and placed investors at risk, but was also illegal,' says SEC enforcement director.
Goldman profits surge, driven by equity trading
The asset and wealth division helped drive the results, posting its highest quarterly revenue in two years on a gain tied to the sale of its Personal Financial Management unit.
Wells Fargo Advisors to sell new bitcoin ETFs
'We’ve made significant investments the last few years across our franchise to better serve our customers, and help drive growth,' says Wells CFO Mike Santomassimo.
Merrill adds new clients by tapping Bank of America customers
'In 2023, a record number of existing Bank of America clients became Merrill clients,' says Eric Schimpf, president and co-head of Merrill Wealth Management. 'We can and will do more here.'
Morgan Stanley to pay $249M over block trade probes
The agreement with federal prosecutors ends a years-long investigation and allows the bank to avoid criminal charges.
JPMorgan posts record net interest income
The bank said the windfall may continue this year; its earnings also included a $2.9B charge for an FDIC special assessment related to last year's bank failures.
