Industry

Hybrid b/d and RIA Cascade Investment Group recommended high-fee mutual fund share classes when cheaper options were available and failed to disclose the fact, the SEC claims.

'We kind of think we’re creating—and not to be arrogant about it—but a new mousetrap,' said CEO James Gorman. 'You’ve got three legitimate channels pouring assets into the house.'

Chairman and CEO Paul Reilly said the firm will 'embrace flexibility' and various work arrangements, although it has set a date for its workforce to return to the office.

Morgan Stanley CFO Sharon Yeshaya talks about her unusual trajectory through the company and industry.

A five-advisor team in Tampa, Fla. has jumped ship from Bernstein for UBS's Private Wealth Management division.

The private equity firm will help the company pursue 'continued growth, technology development and expansion by acquisition,' according to the RIA. Founder and CEO Ron Carson will still be the majority owner.

A senior Merrill Lynch executive said the bank expects single-digit growth in headcount as it focuses on its advisor training and development programs.

Strong M&A trends, alongside marketing and outsourced CFO features, resulted in stronger-than-predicted growth for Advisor Services Exchange.

Citi is adding a no-fee, self-directed brokerage option to complement the robo it launched last year.

While the brokerage's headcount keeps dropping, those that stay at the firm are becoming more productive and raking in additional client assets.