THE BIG PICTURE
Big-bank wealth growth leans on IPO listings and recruiting as Merrill advisory flows slow
Morgan Stanley's record wealth haul rode on IPO listings while Merrill's recruited assets doubled and its advisory flows slowed, a gap that makes headline net new assets a weak guide.
Sterling Park, Chief Analyst
MARKETS IN 5
Tech selloff eases as yields fall and producer prices spike
STOCKS
S&P 500 snaps three-day losing streak with 0.3% gain
RATES
Ten-year Treasury yield eases to 5.10%
ECONOMY
Producer prices jump 1.3% in September, largest monthly gain since 2022
SECTORS
Nike leads Dow gainers as consumer names rebound
EARNINGS
Kimberly-Clark rises after preliminary third-quarter beat
Miles Ashford, Markets Correspondent · Read it in five minutes
FROM THE NEWSROOM
Advisor moves, week of Oct 5–11, 2026: 16 moves, $1.1B Praxis team to LPL
LPL Financial posted the week's largest net gain, +$1.1 billion, as the tracker recorded 16 moves and $6.1 billion in client assets across the eight moves that disclosed assets.
Grant Whitmore, Moves Correspondent
Private equity backed three of every four RIA deals this spring
Sponsor-backed platforms set a record share of acquisitions, and Form ADV filings show how much of the independent business already sits with its largest firms.
Vivian Cole, Deals Correspondent
Mega sellers set record as RIA deal count falls 17% in Q3
Consolidators handled 53% of announced RIA deals through September as the third-quarter count fell to 77, according to DeVoe & Company's quarterly report.
Nora Kessler, Practice & Technology Correspondent
Wells Fargo entities and Merrill settle NASAA commission probe for $4.4 million
Regulators announced a combined $4.4 million settlement with Wells Fargo entities and Merrill Lynch over alleged unreasonable commissions on small equity trades, according to NASAA.
Theo Marsh, Regulation Correspondent
THE WIRE
MOVES · RIABIZ
TD Bank's RIA unit poaches Schwab's 'head of firmwide AI' and makes him its 'head of U.S. Wealth' with an eye on national franchise
FINANCIAL PLANNING
How 5 of the industry's biggest firms do RIA custody
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FINANCIAL PLANNING
Schwab blocks unauthorized AI agents, points clients to 'Charley'
FINANCIAL PLANNING
Amid pessimistic economic and policy sentiments, advisors see the potential in their firms
HEAT INDEX · 24 HOURS
1. Schwab 7 stories
2. Wells Fargo 4 stories
3. Merrill 3 stories
4. UBS 3 stories
5. Raymond James 2 stories