Rather than focus primarily on recruiting advisors, Raymond James plans to grow its business by improving advisors production, advisor retention and recruitment, reports Financial-Planning.com.

Merrill Lynch, Morgan Stanley and UBS have expressed support of a Finra proposal that would require firms to disclosure recruitment incentives they use to encourage brokers to switch firms, reports AdvisorOne.

Finra has ruled that its own rule prohibiting the use of judicial class action waivers in broker-dealer customer agreements is invalid. That’s because regulation of the matter is preempted by the Federal Arbitration Act, reports Lexology.com.