The bank's wealth management group also started 2022 in hiring mode, reporting this month that it had recruited two longtime Merrill advisers in New York.
While the company hasn't staunched the bleeding of its financial advisers completely, the three months ending in December saw the rate of decline slow a bit, while the average revenue per adviser continued to increase.
The former UBS chief was named co-chair of recently rebranded NewEdge Capital Group.
Matthew Clason was registered with Lincoln Financial Advisors until 2016, when he moved his registration to LPL Financial.
Fieldpoint Private will remain a private bank, and, as part of the new transaction, will offer its banking capabilities through the Summit adviser platform.
The combination of Seattle-based Laird Norton and San Francisco-based Wetherby Asset Management creates a firm with $15 billion in client assets.
The settlement stemmed from potential claims related to Merrill's "management and oversight" of brokerage accounts opened by the owner of Jay Peak, the failed Vermont ski resort.
National Securities Corp. and Calton & Associates Inc. reported increased expenses in light of potential legal costs.
Despite last year’s riot at the Capitol and a variety of lethal Covid-19 variants, the broad stock market roared, which is always good news for financial advisers and their firms.
Advisers like the autonomy of working from home and don’t want to have to go back to the office and wear a suit again.
