UBS is also expanding its Manhattan complex with a trio of defectors from Morgan Stanley, and Wells Fargo's billion dollar-team binge continues with an ultra-high-net-worth practice in Texas.
A 17-person ensemble led by top-ranking next-gen advisors, the Taylor Group's addition gives Wells Fargo Advisors one of its largest New York City recruits in recent memory.
JPMorgan, KKR, Ares and Cliffwater also announce senior appointments across wealth and alternatives business lines.
Raymond James is also welcoming a $400M Merrill Lynch duo in Lexington, Kentucky, while RBC adds a $542 million UBS team in the Philadelphia market.
Strong advisory flows and trading activity lift results as integration nears completion.
Raymond James is also welcoming a $480M Brooklyn team from Wells Fargo's independent network, while JPMorgan adds a $400M Goldman Sachs advisor in New York.
He left Bank of America for a JPMorgan role. Then, he says, HR stopped listening
Separately, UBS strengthens its Manhattan presence with a defector from Deutsche Bank, while Cetera welcomes a father-daughter tandem from Osaic.
The deal will give Citi Wealth clients access to a single account structure combining ETFs, mutual funds, separately managed accounts and alternatives — with BlackRock integration built in.
Breakaway advisors cite independence, ownership and broader capabilities as key drivers.
Meanwhile, recruiting financial advisors is up at Bank of America and attrition is down, its CEO says.
Meanwhile, Citi logged its best quarterly revenue in at least 10 years, with profitability metric topping the bank's own targets for the first time since 2021.
With $464 billion raised in alternatives since 2019 and wealth management fees up 17% year-over-year, the firm is pressing its advantage.
Touchstone Wealth Partners, a multigenerational team based in Ohio and Florida, is the fourth billion dollar-plus practice to join FiNet this year.
Meanwhile, Merrill extended its reach in Florida with the addition of a veteran reporting $645 million in client assets from UBS.
In the most aggressive cases, the bank's new revenue targets would effectively double some bankers' required output from a year ago — which some insiders say is simply out of reach.
Meanwhile, Wells Fargo's FiNet welcomes a $300 million pair from Private Advisor Group, and Raymond James reels in another veteran advisor from Commonwealth.
Entrepreneurship rises, AI use grows, and family support strains finances across generations.
Court filings spotlight disputed account activity and transfers linked to figures in Epstein’s orbit, including Apollo co-founder Leon Black.
Strong trading, underwriting drive higher payouts, though risks and hiring slowdown loom ahead.
