Meanwhile in Chicago, the wirehouse also lost another $454 million team as a group of defectors moved to Wells Fargo.
Financial advisor Derek Wittjohann shares the lessons he learned after leaving a major wirehouse to set up his own practice in the second installment of InvestmentNews' new 'Independence Stories' series.
News of the nine-person team's defection comes as the Swiss-based wirehouse welcomes a 25-year veteran from Wilmington Trust.
The firm expands its Tri-State presence with a veteran advisor group from New York, while LPL and Osaic also report smaller additions in Texas and the Hudson Valley.
Following Wall Street Journal reporting from unnamed sources, the Chicago-based financial giant stressed its commitment to "delivering long-term value to our stakeholders."
The new legislative proposal, which includes more aggressive cuts to Medicaid and a lower SALT cap, threatens a goal of passing President Trump's tax-cut legislation by July 4.
Meanwhile, Kestra partner Coastline Wealth Management passes a milestone in its geographic expansion with a former Ameriprise team in New York.
Meanwhile, the bank is also investing in technology for its financial advisors in the United States.
Toronto-based Bank of Montreal has hired a three-decade veteran from Bank of America to lead its newly combined US operation as one of its top leaders plans to step down.
Meanwhile, Wells Fargo reels in a veteran from JPMorgan in Las Vegas, Nevada.
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
"We think this happened because of Anderson's age and that he was possibly leaving," said the advisor's attorney.
The undoing of the penalty, which has hung over the Wall Street bank for seven years, marks a significant victory for CEO Charlie Scharf.
Back office workers and support staff are particularly vulnerable when big broker-dealers lay off staff.
Wealth management is a key focus for a new service tier.
InvestmentNews is searching for the country's emerging young talents.
The latest additions to RBC's long history of attracting billion-dollar UBS teams have bolstered its presence in Boise, Idaho.
The deal ending more than 30 years of ownership by the Swiss bank includes six investment strategies representing more than $11 billion in AUM.
Research finds contributions to 401(k)s are dropping due to economic fears.
In regards to the new fund, called WVB All Markets Fund, Morningstar analysts wrote that, "despite the brand-name pedigree of the asset managers involved, most of these strategies are untested."
