Some of the biggest brands in wealth management are trying to figure out what normal looks like, and how and whether it makes sense to bring employees back to the office.
John Alexander is the second senior manager with two decades at the firm to leave Wells Fargo Advisors in recent months.
Charlie Scharf earned $24.5 million last year, up from $20.3 million for 2020.
The RIA channel saw a net gain of 1,530 financial advisers in 2021, while the wirehouses had a net loss of 2,065.
The hiring push comes after Merrill and Bank of America reported a 6.3% decline in financial adviser head count last year.
James Iannazzo, who's facing three charges as a result of the incident in January, seeks to plead not guilty and be put on probation for up to two years.
No details about closing branches or offices of Wells Fargo Advisors locations were included in the filing with the Securities and Exchange Commission.
CEO James Gorman says the firm has seen relatively few departures in the wake of the pandemic. In contrast, he says the bank received about 500,000 job applications last year.
Richard DeYoung and Jessica Boehm opened their new firm, Highland Wealth Partners, in The Woodlands, Texas, and affiliated with LPL's Strategic Wealth Services.
The Swiss bank also identified 'a small number' of wealth management clients who were sanctioned in response to Russia's invasion of Ukraine.
The three advisers operate as RCC Wealth Management in Spartanburg, South Carolina.
The business group formerly known as the Global Family Office is being folded into a larger unit in an effort to link the bank's work serving billionaires more closely to its investment banking business.
The bank said regulators including the Labor Department are looking at transactions related to the plan's employee stock ownership feature.
The trend of breaking away seems to have intensified a year after most employee-advisers were suddenly left without the resources or supervision of daily office life.
A solo adviser joined the firm in Yakima, Washington, and a duo signed on in Durango, Colorado.
Greenwood Village, Colorado-based Brent Hablutzel and Zachary Bond-Stefo will operate as the Hablutzel Group.
The three advisers, who operate as Outcome Private Wealth in Salt Lake City, are affiliating with LPL through OSJ Stratos Wealth Partners.
The SEC and the Justice Department are looking at how bankers, including those at Morgan Stanley and Goldman Sachs, work with hedge funds to carry out stock sales big enough to send prices tumbling.
The win follows several losses for Credit Suisse on similar actions brought by former brokers who say they were denied pay when the firm shut down its U.S. private bank.
The $104 billion Chicago-based aggregator is going after a Seattle adviser for taking clients with him when he left a year ago.
