Also, Merill Lynch scores a billion-dollar recruitment win in New York with a sports-focused advisor defecting from UBS.
Toward the end of last year, UBS said it was redrawing its pay plan for advisors, but "every time one of the big firms like UBS tinkers with the advisors' compensation, some of them say, that's it, that’s the last straw," recruiter Danny Sarch said.
The Merrill Lynch defectors expand RBC's reach in Texas while LPL bolsters its New York presence.
The approval of the pay proposal, which handsomely compensates its CEO and president, bolsters claims that big payouts are a must in the war to retain leadership.
RBC and Rockefeller strengthened their East Coast presence, including a $5 billion defection from JPMorgan, as Merrill welcomes a top-caliber advisor in California.
Bleakley announces a double addition from Northwestern Mutual while RBC takes in an experienced advisor from US Bank.
Industry research report unpacks trends in advisor channel movement, declines at wirehouse firms, and momentum building towards RIA affiliations.
The Wall Street giant's newest alts offering, launched under a "G-Series" branding, builds on a broader trend of investment firms looking to expand alts access to the masses.
Farhad Firoozi is the latest in a long line of senior executives Wells Fargo Advisors has hired from rivals.
Can employees sue over what they perceive as mismanagement of pharmacy benefits?
The financial advice industry has waited for years to see if the wirehouse would embrace RIAs.
The firms' latest additions in Florida and Nevada come as a strategic change at UBS raises risk of advisor defections.
Banking giant stresses commitment to merit-based hiring, compensation, and promotion as anti-DEI orders from Trump reverberate across federal agencies and corporations.
Toward the end of last year, UBS said it was redrawing its pay plan for advisors.
The banking giant is undertaking a tech revamp as it addresses longstanding concerns around data risk management.
Calvin Gray repeatedly impersonated victims who were customers of a number of other banks and financial institutions, according to a federal indictment.
The Finra panel found UBS Financial Services liable for $69.1 million in punitive damages.
The wirehouse's "strong investment in technology and AI has improved financial advisor productivity," KBW's David Konrad said.
According to his BrokerCheck report, Roger A. Gallagher was charged last August with two felony counts and he pleaded not guilty to both.
But the Finra panel's decision against James Iannazzo was not unanimous.
