News•Mar 10, 2026
BofA Co-President Plans ‘More Aggressive’ Advisor Recruiting
Bank of America’s Merrill Lynch division, led by co‑president Dean Athanasia, announced a more aggressive push to recruit financial advisors, aiming to expand its 15,000‑advisor platform. The bank has revived veteran‑focused hiring, backed by a 48% YoY rise in forgivable loans to $375 million and enhanced AI tools plus 1,000 product specialists. Athanasia highlighted a medium‑term goal of 4‑5% net new asset growth and the untapped potential of 8‑9 million high‑net‑worth clients at the consumer bank. The strategy also leverages Merrill’s $600 billion workplace benefits business to fuel future fee revenue.
By AdvisorHub
News•Mar 9, 2026
Edward Jones Advisor Departures Hit 5-Year High in 2025: Report
Advisor departures at Edward Jones reached a five‑year peak in 2025, with 1,458 advisors leaving—a 35% increase over 2024. Roughly a third of the exits were veteran brokers with ten or more years at the firm, and retirements doubled, indicating...
By AdvisorHub
News•Mar 9, 2026
UBS Bonus Pool Rises 10%, Ermotti Pay Unchanged at $19 Million
UBS increased its 2025 bonus pool by 10% as the Credit Suisse integration approaches completion, while CEO Sergio Ermotti’s total compensation remained unchanged at 14.9 million Swiss francs ($19.1 million). The bank cited stronger financial performance, progress on integration, and...
By AdvisorHub
News•Mar 3, 2026
Ares CEO Says UBS Call on 15% Private Debt Default ‘Absolutely Wrong’
Ares Management CEO Mike Arougheti dismissed UBS analysts' worst‑case projection that private‑credit defaults could hit 15%, labeling it irresponsible. UBS warned the scenario could materialize if artificial‑intelligence disruption spikes borrower distress, but otherwise expects defaults to rise about 5% before...
By AdvisorHub