Wealth management firms are fighting negative perceptions to recruit college students and other millennials to the business.
The generation gap may not be as wide when it comes to young recruits and their elder counterparts.
The industry takes on the challenge of mentoring young recruits by focusing on the senior wealth managers who guide them.
Summit Financial, based in Westlake Village, Calif., is a primarily fee-based RIA offering clients investment management, insurance and retirement planning, says Triad, which offers advisory firms both a broker-dealer and a fee-based RIA multi-custodial platform.
A group with $4 million in production moved between the wirehouses, saying it wanted access to the banking and lending capabilities at Bank of America.
The former Southwest Securities team had overseen $225 million in assets at the time of their departure.
Three bank breakaways join two former colleagues who started the independent firm Standard Investment Advisors last year.
A former H. Beck advisor joins Securities America after 27 years with the firm to explore some of the industry's latest technological advances.
King Financial Network president says the team went private for better accessibility and technology.
Independent advisors are bucking the broader trend and going to work for wirehouses and regional firms, ditching managerial tasks for simplicity and payoff.
Advisors with 25 years of combined experience leave the wirehouse for the broker-dealer's private client group.
A team with more than 35 years of combined industry experience leaves the wirehouse for the regional broker-dealer.
Two veterans left the wirehouse this week for different firms, including Janney Montgomery Scott.
Four advisors made the move between the wirehouses.
Two advisors left the wirehouse where they generated more than $1.1 million in annual revenues.
Looking for a new home for your practice? Here's what you need to consider.
The regional broker-dealer landed a former business director from Lifetime Financial Growth, who also worked for Merrill Lynch and Lehman brothers.
Two advisors that produced $2.15 million in annual revenue joined Raymond James Financial Services, the firm's independent broker-dealer.
Two other groups that managed more than $300 million also move to the wirehouse.
New hires join the firm's employee and independent channels.
The trio collectively supervised about 200 advisors who oversaw more than $17 billion in client assets for UBS and Wells Fargo.
Morgan CFO Ruth Porat was eligible for $14.1 million in unvested restricted stock and $13.8 million in total deferred compensation as of the end of 2014.
Sage Private Wealth recruits an advisor with about $1.3 million in annual revenue -- and a family resemblance.
The new recruits generated an estimated $1.4 million in combined annual revenue while at Merrill Lynch.
Two wirehouse advisors who oversaw $140 million in assets joined the super regional's employee advisory ranks.
Collectively, the new recruits from Wells Fargo, Morgan Stanley and A.G. Edwards managed a total of $600 million in assets before joining the firm.
These leaders are finding it more difficult to keep a balance between advisors and their firms.
After 20 years with UBS, the nearly 40-year industry veteran will now head a Baird branch in the Midwest.
An advisor's move to HighTower sheds light on an issue that bedevils those making the transition: Whether to risk losing partners -- and possibly clients.
The recruit oversaw $160 million in client assets while at Merrill, according to a UBS spokesman.
The group was responsible for about $425 million in client assets.
The wealth management industry has long been characterized by a lack of diversity. After the success of Raymond James' Women Advisors Network, though, a group of advisors and branch managers at the firm has launched a Black Financial Advisors Network.
Better technology, cultural differences and bigger deals have enabled regional firms to recruit more competitively and keep up the momentum.
Consider every encounter at work and in your community an opportunity to create a positive reputation for your business.
Recruits from Edward Jones, Morgan Stanley and Barclays leave for the wirehouse.
Both wealth managers, who left UBS, also had a combined $289 million in client assets before making the move, RBC said.
Three advisors left the wirehouse to join the independent brokerage network at Wells Fargo.
The move marks HighTower's fifth recruiting grab this year, totaling about $2 billion in client assets.
Three wirehouse advisors joined RBC to open a new branch office.
Quartet of advisors with $175M in AUM joins Raymond James' independent operation.
The firm picked up three recruits from the wirehouse and New York brokerage.
The giant IBD is focused on recruiting more than acquisitions, says new president Dan Arnold.
The wirehouse recruited three advisors from rivals Merrill Lynch and UBS.
A Charles Schwab advisor left the firm where he managed about $350 million in client assets, according to a firm spokesman.
The firm says they "are pleased to welcome" Thomas Buck and his team.
The two advisors move between the super regionals.
HighTower adds a group led by one of On Wall Street's Top 40 Advisors Under 40.
A 33-year industry veteran heads the three-member group.
The firm recruited three advisors to its employee and independent channels from rivals Edward Jones, Wells Fargo and MetLife Securities.
A father-and-son team from Janney Montgomery Scott joined the wirehouse.
John Horner will succeed Craig Delany, who announced his retirement last month.
The wirehouse landed five recruits from Stifel, Morgan Stanley and RBC.
Raymond James added a Wells Fargo advisor who managed $175 million in client assets.
The pace of RIA dealmaking has leveled off over the last few years, with no increase in the number of deals over the previous year and aggregate AUM acquired ticking up only slightly to $47.4B from $43.7B, according to new data from Schwab Advisor Services.
Long, who oversaw 400 advisors at Wedbush, parted ways with the firm earlier this month.
Four advisors joined the firm from rival brokerage D.A. Davidson.
Facing a talent shortage, banks need young advisors more than ever and they're finding them before they even graduate college.
Two wirehouse advisors generating almost $1.7 million jumped to Steward Partners, an independent firm affiliated with Raymond James Financial Services.
"Im delighted to be returning to my California roots and joining Google," Porat said of her move back home to Silicon Valley.
The recruit generated $614,000 in production at his former job.
Wealth managers who managed over $800 million in combined client assets have joined the wirehouse, according to a spokeswoman.
The elite Bank of America brokerage unit created a new executive role to oversee philanthropic services.
A one-time wirehouse receptionist, at a time when there weren't many women in the business, now runs her own practice.
Will the firm's latest deferred comp measure drive advisors away and hurt recruitment? Recruiter Danny Sarch weighs in on the new plan.
Former head of private banking at Macquarie to develop strategy in the Los Angeles area.
An avid surfer, this wirehouse recruit made the move to Integrated Wealth Management.
The wirehouse grabbed a group that produced $2.5 million at RBC.
The firm also said it had recruited a wirehouse team with $2 million in annual revenues.
The firm named Prudential's Tidjane Thiam to replace Brady Dougan as chief executive officer as the bank grapples with declining profitability at the securities unit and weakened capital.
Two Morgan Stanley advisors managing about $150 million in assets moved to the regional broker-dealer.
A team that produced $3.1 million in annual revenue moved between wirehouses.
Advisors who can bring in and work with clients, wealth strategists with tax and accounting expertise and successor CEOs are in greatest demand.
Raymond James & Associates tapped a former Morgan Stanley exec and RIA co-founder as regional director.
A former branch manager is promoted to oversee 142 employees.
Wealth managers from separate teams moved to the wirehouse.
Veris Wealth Partners, an RIA specializing in sustainable investing, recruited the advisor, who was managing $500 million as a portfolio manager.
To court young talent, banks are reimagining their ads for positions like call center agents and video tellers as YouTube clips. They are also finding ways to make applications easier to fill out on mobile devices.
Two groups representing five advisors left Morgan Stanley to join RBC.
Two advisors who managed $175 million in client assets moved between the wirehouses.
In a rare independent-to-employee move, four independent advisors joined the employee channel of Raymond James.
Arthur Tambaro thought his career was over just a year ago. But his latest move makes sense in his career path, he says.
The two new hires managed about $210 million in client assets while at Morgan Stanley.
Three former Ameriprise advisors will sign on with the employee advisory channel at Raymond James.
The former wirehouse group is larger than Dynasty's biggest recruiting grab in 2014.
The three-advisor team generated more than $2 million in annual revenue before making the move.
A wealth manager, with $65 million in client assets before he left the regional broker-dealer, joined an independent firm affiliated with SagePoint Financial.
Regional broker-dealer Wunderlich Securities recruited two wirehouse advisors.
Advisor Billy Belcher joined the firm's independent broker-dealer.
Advisors generating $5.8 million in annual revenue left Morgan Stanley for Merrill. The team is led by the No. 7 advisor on On Wall Street's Top 40 Under 40 ranking.
Morgan Stanley lost an advisor producing $883,200 in annual revenue to Merrill Lynch.
A former RBC team that managed $200 million in client assets has signed on with Raymond James' Los Angeles office.
The recruit takes on a new role as complex manager at the firms latest office in Birmingham, Ala.
Two veteran wirehouse advisors joined regional broker-dealer Wunderlich.
Two UBS advisors managing $170 million in assets joined Baird.
The former branch vice president will now serve high-net-worth clients at the banks Los Angeles office.
A Morgan Stanley advisor left the firm to join HighTower.
Recruiting activity will intensify as seven-year contracts begin to expire. Is now the time to cut a deal? Headhunters weigh in.
Next-generation advisors, next-gen clients and next-gen technology are at the heart of TD Ameritrade's newest programs for advisors.
Ameriprise Financial reported 33% year-over-year growth in wealth management profits.
A pair of sessions at the FSI OneVoice conference focused on recruiting and retention challenges facing IBDs, many of which center on hybrid or dually registered RIAs who are edging toward greater independence.
Raymond James & Associates recruited advisors from Oppenheimer & Co. and Wells Fargo Advisors, each with close to $1 million in revenue.
Two wirehouse advisors generating $1.3 million in annual revenues joined RBC Wealth Management.
The regional broker-dealer lands three new recruits for its employee channel, including one who managed more than $100 million AUM.
Two Merrill Lynch advisors left the wirehouse for independent firm Snowden Lane Partners.
A wealth manager with 30 years of experience left Citigroup Global Markets to join the year-old Lebenthal Wealth Advisors as a producing branch manager.
The seven-member group left Morgan Stanley to join Wells Fargo.
Raymond James lured away a Morgan Stanley advisor managing more than $85 million in client assets.
Seth Barnes was promoted to oversee 10 branch offices at the wirehouse.
Two advisors left Wells Fargo to join Stifel.
An advisor managing more than $188 million in client assets joined Raymond James & Associates.
Kevin Reed, head of wealth management for Janney Montgomery Scott, explains how the firm is shifting its focus to meet the needs of a "new breed of FA."
The firm hired the former CEO of Source Capital Group as a regional manager.
Raymond James lured away a UBS advisor managing more than $120 million in assets.
An Edward Jones advisor managing more than $114 million in client assets joined the Raymond James independent channel.
Two advisors left RBC to join Raymond James' employee channel.
Stifel Nicolaus lured away a 36-year veteran advisor from RBC.
The CFP Board has launched a new online portal intended to serve as a resource for people looking to start a career in financial planning.
U.S. Capital Advisors recruited a veteran Wells Fargo advisor who previously managed $550 million in assets as part of a three-person team.
An advisor managing $215 million in assets left Merrill Lynch to join the regional firm.
A former BNY Mellon advisor that managed $850 million in client assets has formed an RIA affiliated with Raymond James' independent RIA channel.
The elite team left Merrill Lynch for Morgan's ultrawealthy consulting group. The mega move comes on the heels of the firm's data breach.
The new recruits come from Morgan Stanley and UBS.
The fast-growing, private wealth management firm has partnered with a new team, TC Wealth Management.
Firm president Tash Elwyn explains the upswing in advisor headcounts.
Bank wealth management has been on a tear, but pressures such as recruiting and robos threaten to the slow down the momentum. Heres how banks are fighting back.
Banks need more advisors and have the business to support a bigger headcount, but many are too busy chasing only the best producers, leaving them in a Catch-22 where they cant staff up enough to see real growth.
Cerulli predicts that market share gains in the RIA and dually registered channels will likely come at the expense of wirehouses and independent broker-dealers.
The firm recruits a team with advisors from Wells Fargo and JP Morgan.
Three of the four formed a team with $218 million in assets under management.
The Bogart Group was previously with RBC Wealth Management-U.S., managing client assets of more than $600 million.
The wirehouse recruited advisors from rivals Merrill Lynch and UBS.
Merrill's newest recruit managed more than $185 million in client assets while at UBS.
Margaret Towle was most recently a partner and managing director with HighTower Advisors. She's also editor-in-chief of The Journal of Investment Consulting.
Raymond James' independent broker dealer lured away two advisors producing $1.85 million from Morgan Stanley.
Raymond James & Associates lured away a wirehouse team with $116 million in AUM.
The wirehouse named former football pro and advisor William Thomas to head the firm's San Francisco complex.
A Wells Fargo team left the wirehouse to join Raymond James & Associates.
An advisor managing $181 million in assets left Morgan Stanley for the Swiss firm.
Wealth managers called into active duty have a delicate balancing act between serving firm and country.
Lebenthal picked up an RIA that oversees $250 million in assets, as well as a team of two advisors in New York.
Mega teams spend months, sometimes years, in the effort to find a new home and transition their oversized books.
Raymond James & Associates recruited an advisor managing more than $191 million in assets from regional rival Stifel.
The wirehouse brought over five advisors from UBS and Citi Personal Wealth Management.
The team, known as Madison Street Financial Group, generated $3.5 million in annual revenue.
HighTower recruited a Merrill Lynch advisor to join a group that broke away from the wirehouse earlier this year.
An advisor team generating $6.7 million in annual revenue has left J.P. Morgan Securities for Raymond James & Associates.
A new addition to Raymond James & Associates helps further the firm's growth plans.
Two Raymond James advisors joined Ameriprise; one went to the employee channel, the other moved to the firm's independent side.
Wells Fargo Advisors recruited a veteran advisor generating more than $1 million in annual revenue.
Merrill Lynch lost a group of advisors managing $535 million in assets to Raymond James & Associates.