BAIS Moves Reps to Merrill (Investment Advisor) - Banc of America Investment Services (BAIS), Inc., transitioned its registered representatives to Merrill Lynch, and then requested that FINRA withdraw BAIS’s broker/dealer registration.

Bank Broker Productivity Inches Up (Bank Investment Consultant - Breaking News) - In October, sales productivity of the average full-time broker working in a bank rose 1% to $17,437 from a month earlier, according to the Kehrer-AXA Distributors Monthly Bank Investment Services Monitor.

Wells Fargo to impose 25% withholding tax rate across adviser network (Investment News.com)

Citigroup private banking unit poaches talent from rivals (Wealth Bulletin) - Citigroup’s private banking arm has recruited senior bankers from Bank of America’s US Trust and Wells Fargo for its Miami office, according to a report in The Wall Street Journal.

First Mercantile Boasts New Southwest Regional Sales Director (Bank Investment Consultant - Breaking News) - Travis Cox will take over December 1.

Citi Soon Moving Advisors To Fee Model (FA Mag) - The change in strategy for Citigroup Inc.'s wealth management group will start to get reflected in advisors' paychecks next month.

With BofA reps under the recruiting protocol, rivals may pounce (Investment News.com)