Merrill Lynch reportedly paid $400 million for the purchase of the Advest Group from AXA. The purchase includes the private client retail division, an asset management arm and a capital markets group. According to analysts, Merrill got the firm...

The firm known primarily for its tax preparation services is ramping up its financial advisory force. H&R Block Financial Advisors had a record recruiting month in August, bringing aboard 48 financial advisors with a combined $1 billion in assets...

A $450 million class-action lawsuit filed in New York against Morgan Stanley on Friday could have major implications for brokerages’ pay practices in the state. Filed by a former Morgan Stanley broker, the lawsuit claims the firm failed to...

Merrill Lynch and AXA Financial, part of French insurance giant AXA, announced today that Merrill would buy The Advest Group, AXA’s full-service retail brokerage arm.

As expected, Morgan Stanley board members from the Philip Purcell era continue to decamp, with two more directors out. Charles Knight and John Jacob, both of whom were on the board’s compensation committee, resigned Friday. Knight was...

When are mutual fund companies charging too much in advisory fees? What constitutes proper disclosure of, say, revenue sharing? And which governmental authority has jurisdiction over these issues?

The changing of the guard at Morgan Stanley continues as leadership loyal to departed CEO Philip Purcell heads for the exits. The company announced Tuesday that director Michael Miles had resigned his post, and analysts say more directors are...

It has long been the case that the heaviest hitters rely mostly on high-net-worth retail clients for their outsized success. But now many advisors are finding what they seek one more link up the food chain in the lower reaches of the institutional...

Location City: Houston, Austin, San Antonio, McAllen Location State: TX Base Salary: 100,000 Bonus & Incentives: Signing bonus of 20% of trailing 12 but in the form of a forgivable loan. Monthly draw based on commission Position Responsibilities...

Morgan Stanley is in for what could be a $10 million fine from the SEC for failing to retain emails, according to a report by the Wall Street Journal Online.