Bank of America has launched Merrill Edge Roadmap, which is a financial planning service that matches the firm’s 1.6 million mass affluent clients with Merrill Financial Solutions Advisors, reports AdvisorOne.com.

Last year was the second-best year for Wells Fargo’s efforts to recruit advisors for its Advisors Financial Network, which caters to independents.

The Security and Exchange Commission’s Office of Compliance Inspections and Examinations has issued a report that identifies common weaknesses in how broker-dealers keep client data confidential, reports Lexology.com.