Updated Thursday, April 24, 2014 as of 4:22 AM ET
LPL Profit Drops 3% Amid Recruiting Pinch
A slowdown in advisor recruiting seems to have squeezed growth and profits at LPL Financial.
The nationís largest independent broker-dealer, reported a 3% drop in earnings for the first quarter, with net income falling to $53.1 million for the first quarter from $54.7 million a year earlier.   more »
More in Recruiting
'Mariner is a well-organized and well capitalized growth company,' says John Furey, principal of Advisor Growth Strategies. 'The pace of growth is best in class and I expect it to continue.' more »
Developing successful training programs that embrace Millennial advisors is the single most important way to attract and maintain the wealth of this new generation. more »
For female advisors, a new CFP Board report finds several challenges that largely fall into two areas: bias, both perceived and actual, and awareness of the profession. more »
Planners thinking of retirement often seek young partners to share the business. But such pairings can be tricky to pull off. more »
Fortress is the fifth firm to join Omaha-based Arbor Point, which provides an open architecture platform aimed at dually registered advisors, since it launched early last year. more »
Deutsche Bank's wealth management unit has recruited former-Barclays advisor Chris Guttilla. more »
Janney Montgomery Scott recruited an advisor team with $1.7 million in annual revenue from Barclays. more »
If the integration process takes longer or is more costly than expected, RCS says it may 'fail to realize' some or all of the anticipated benefits of the pending acquisitions. more »
Washington Wealth Management has recruited two advisors from UBS and Wells Fargo, where they collectively managed approximately $150 million in assets. more »
AUM drops 31% as more top brass depart, with parent SunTrust filling executive ranks with veterans of the bank. more »
Advisor group Cohen Financial Management has joined Raymond James Financial from J.P. Morgan Securities, where the team generated annual revenues in excess of $4.2 million. more »
Switzerland's biggest bank hired 88 advisors this year to service rich Asian clients after assets at its wealth management business in the region jumped 38% in the past two years. more »
Baird reported record revenues for 2013, and added a former-Wells Fargo advisor as branch manager for its Charleston, S.C. office, marking its twelfth recruitment so far this year. more »
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Advisors on the Move: Cambridge Snags $500 Million Team

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