The wealth management division of Bank of America made nearly $5 billion this quarter and is on track to bring in 70,000 new household clients this year, even as fee-based asset management growth has waned after DOL pullback.

He wrote a pivotal opinion on the ability of states to impose income tax.

"This is pretty much first-generation wealth."

Executive Vice President Aaron Schaben will handle business growth and development for the firm while Chief Operations Officer Teri Shepherd will supervise Carson's institution and retail-focused divisions.

The SEC charged AR Capital, its founder, Nick Schorsch, and CFO Brian Block with fraudulently profiting off of REIT mergers.

Michelle Rudd will join the firm from Wells Fargo, where she managed $500 million in client assets.

Patrick Foy and Chris Willis will join LPL Financial from Raymond James Financial Services, citing the firm's platform and resources that can help streamline client services.