Expansion-minded Savant Capital Management has bolstered its presence in the vibrant Chicago metropolitan market, acquiring Paragon Advisors, a $150 million firm in Naperville, Ill.
A big LPL practice with $3.7 billion in assets under management is picking up a $300 million Chicago-area firm.
When they come to us for everything, we then truly are their lead advisor, says Mike Ott, the new head of the unit.
For United Capital's newest advisor, it was the tools that closed the deal.
The fast-growing Kansas-based advisory firm with national ambitions has planted its flag in New York City, signing on RR Advisory Group.
Although many in the industry consider Dynasty and HighTower rivals for the allegiance of breakaway teams and independent RIAs, CEO Shirl Penney says Dynasty doesnt run into [HighTower] as much as you may think.
Senior financial services executives said the industry needed to move more quickly to promote diversity and inclusion throughout the organization.
Keith Morris, managing director of Conshohocken, Pa.-based Morris Capital Management Group,has left Wells Fargo to affiliate with Raymond James Financial Services.
Want to work with more female clients? Don't make the mistake of assuming that they're all the same.
At the Schwab Impact conference this week, four growth experts discussed how advisors can overcome these obstacles -- offering a mix of high-tech and high-touch solutions.
The firm alleged a former broker breached the terms of his contract when he left the firm just over two years in.
Wealth management firms seeking to recruit new advisors need to first develop a clear business strategy, executives tell attendees at Schwab Impact conference.
The new model has to be able to serve clients "any time, any place and anyhow," said Bernie Clark, the head of Schwab Advisor Services at the financial service giant's annual Impact conference in Washington, D.C.
The answer rests not with the firms but with advisors themselves, says James Kerr, president of Davidson Companies.
Demand is high for experienced executives across all channels. While advisor migration to independent RIAs remains the dominant trend, large wirehouse and bank players are also very much in the game for talent.
In addition to an advisor shortage, bank programs will contend with the challenge of keeping up with technology and client expectations regarding communication practices.
The company has a new deal with a Texas firm targeting ultrahigh-net-worth clients.
See which institutions made the list this year.
The academic community is struggling to mint new financial planners as fast as the industry gobbles them up.
The firm snapped up four Merrill Lynch advisors overseeing a total of $3.1 billion in assets.
A renewed federal emphasis on financial literacy education could have an ancillary payoff for the financial planning profession: more new planners.
The owners of the worlds largest brokerages say the days of paying big bonuses to lure each others brokers and keep their own in place may be ending.
Morgan Stanley picked up two former UBS advisors with a combined $3 million in production.
In seven years, Focus Financial has grown to $65 billion in AUM from $3 billion. CEO Rudy Adolf shares the companys growth strategy.
The brokerage added five advisors from Wells Fargo and opened three offices.
Large firms are targeting smaller lifestyle advisors who want to remain independent but need resources, guidance and business support from the substantial ecosystem of solutions that are now available.
Three big industry names are joining forces to form a new wealth management firm, Lebenthal Wealth Advisors.
Educators say they expect full explanation and transparency.
Advisor network Northstar Wealth Partners added two new advisors managing a combined $800 million in client assets with the help of its independent broker-dealer.
The firm picked up five advisors with almost $450 million in assets under management.
A recent round of hires includes one Wells Fargo advisor with over $1 billion in assets under management.
Two former Morgan Stanley advisors with approximately $1 billion in assets have jumped to RBC in New York.
A pair of the countrys largest independent broker-dealers are the first firms to get the new recognition.
Independent RIAs in the increasingly competitive -- and lucrative -- San Francisco Bay Area market may have to raise their game, according to a leading investment banker.
Our 7 honorees have earned their accolades with impressive individual accomplishments and a commitment to bettering the financial advice industry. Meet this year's winners.
A recent study highlights the industry's dire need for new advisors, and aims to help firms understand Gen Y's huge potential. Here are the key takeaways.
Financial services firms have to start recruiting the half-million college students who may be interested in becoming advisors, or risk having demand for financial advice outstrip supply within ten years, a new study from Pershing shows.
At a time when recruiting is down across the independent broker-dealer space, Cetera Financial Group has added 247 net new advisors nationwide between Jan. 1 and June 30, 2013.
UBS picked up a Morgan Stanley veteran with $345 million in assets under management.
Raymond James picked up a $500 Million team from Morgan Stanley and a Jefferies advisor with $100 million in assets.
Wells Fargo has expanded its Denver, Colo., operations adding an advisor with $150 million in assets under management.
Baird has brought on four advisors with $330 million in assets.
Wells Fargo has created new positions for a director of client acquisition and a director of client experience.
Ameriprise Financial has hired three financial advisors from UBS, Raymond James Morgan Keegan, and HSBC.
Independent broker-dealer Securities America is pressing ahead with its aggressive recruitment campaign, hiring three regional directors to help attract prospective independent advisors, the firm announced Tuesday.
Beefing up its presence in Sacramento and Newport Beach, Calif. Beverly Hills Wealth Management has lured the Sullivan Wealth Management Group from Morgan Stanley.
With a new branch manager, the St. Petersburg, Fla.-based firm forays into an increasingly competitive Seattle market.
Raymond James lured six advisors with over $350 million in client assets to its independent channel, the company announced Thursday.
Northwestern Mutual, the nations 7th largest independent broker-dealer by total-revenue, announced Wednesday it has hired more than 1,100 financial representatives so far this year, and nearly 3,000 financial representative interns.
In an effort to expand its presence in northern New Jersey, RBC Wealth Management has added the Levy Tebeleff Group, formerly of Morgan Stanley, to its Parsippany office.
Michael Brannam and Patrick Brannam will join the firms Jacksonville, Fla., branch, where they will be equal partners of Brannan Wealth Management of Raymond James.
Merrill Lynch Wealth Management hauled in four advisors with $434 million in assets from Morgan Stanley.
Baird has been on a hiring spree in an attempt to bolster the retirement planning services it offers to oil and gas industry professionals in Texas.
A trio of advisors from Wells Fargo, RBC and Morgan Stanley have joined Stifel.
Just days after luring another Morgan Stanley advisor, Stifel announced the hiring of longtime Morgan Stanley veteran Richard Linnihan.
While most see HSBCs decision to change advisor compensation to salary and bonus as risky, some see merit in the move.
Wedbush picked up a legacy Morgan Keegan advisor in Texas.
McRary will be responsible for managing the Boca Raton, Fla.-based independent broker-dealers advisor recruitment and transition efforts.
HSBC made the switch to align the compensation structure for advisors in the U.S. with those in the rest of the global bank.
Stifel has picked up a former Morgan Stanley advisor who oversaw $374 million in assets.
Benjamin Edwards has added offices in Canton, Ohio and Abilene, Kansas., growing the firm to 33 branches in 17 states.
A final handshake on Morgan Stanleys acquisition of Smith Barney will tie up some lingering loose ends, including a smoother clearing process for client assets, for one of the largest wealth management industry deals in the past decade.
Raymond James announced Wednesday it hired Claire Friedrichs as first vice president of investments.
Less than a week after landing another Morgan Stanley advisor, Raymond James has lured a Midwestern group with over $240 million in assets under management from Morgan Stanley to its independent-broker dealer.
Wells Fargo Advisors has hired nine financial advisors from Morgan Stanley, Merrill Lynch and RBC Capital Markets with $1.12 billion in assets under management.
Christian Widen has left his position as a director of Pershing Advisor Solutions to return to the rapidly growing firm where he began his career, Boston-based U.S. Wealth Management.
John David J.D. Joyce and his team moved to Wells Fargo Advisors Financial Network in Houston on May 23.
Morgan Stanley has turned to Wells Fargo and UBS for new advisor hires for the second time this month.
A $1 million producer has jumped from Morgan Stanley to Raymond James in Columbus, Ga.
Janney continues to emphasize its focus on the Southeast with the addition of two former Stephens advisors in Columbia, S.C.
Hilliard Lyons continues growth in North Carolina with the addition of two former UBS advisors.
Stifel nabbed two UBS advisors and opened a new office in Tampa, Fla.
Only 30% of advisors are currently women and that needs to change says Kim Guimond Dellarocca of Pershing. Changing consumer demands and an industry talent shortage are just some of the reasons the industry needs more women advisors.
Morgan Stanley Wealth Management has tapped rival wirehouses UBS and Wells Fargo for four advisor hiress with $475 million in client assets under management and $4.5 million in production.
Janney has expanded its operations in Washington, D.C. with a two-man team overseeing $142 million in assets.
The network was launched in September to help breakaway brokers transition from the traditional wirehouse model to independence.
Vishal Bakshi moved to Merrill Lynchs Private Banking and Investment Group in New York after managing more than $1 billion in client assets at Credit Suisse.
The firm picked up a 32-year industry veteran in Rochester, N.Y.
JPMorgan Chase & Co. hired Travis Machen from Morgan Stanley to run corporate banking for hedge funds, money managers and other mid-sized financial firms.
Baird has snapped up an advisor with $200 million in AUM from William Blair, an employee-owned brokerage in Chicago.
Wells Fargo added a former Edward Jones advisor in Hudson, Ohio.
Executive Recruiter Mindy Diamond explains why advisors, even those with as little as $100 million in assets under management, are in the driver's seat.
RBC Wealth Management picked up a former Morgan Stanley broker with $65 million in assets.
The firm completed a round of financing and added two new directors to focus on recruitment.
Janney has picked up a former Morgan Stanley duo with over $1.5 million in production.
The firm added five advisors, with one from Raymond James and one from Morgan Stanley, to further expand in the region.
The Financial Services Institute gained traction with a new round of advisors from Capital Investment Companies.
Thomas Welch knows theres a better chance he will be fired than retire. So he spent his vacation interning at Merrill Lynch Wealth Management to prepare for a second career to sustain him for the next 40 years.
Baird has bolstered its advisor force with two wirehouse teams with $800 million in assets.
The Securities America move underscored the intensity with which advisory firms are competing for talent, executive search experts said.
Breaking into the brokerage business is getting tougher as declining fees make small accounts less profitable and government restrictions on unsolicited calls make phone sales taboo. Thats leaving big firms struggling to replace a retiring generation of advisors.
Two former branch managers at Raymond James have moved to Stifel and LPL in Austin, Texas.
The new hires join the firm in Jackson, Tenn., and Mount Kisco, N.Y.
The St. Louis-based firm, which now has 30 offices, opened its third Florida location with an office in Destin and made inroads into Alabama with a new branch in Birmingham. It also added an advisor to its White Plains, N.Y., and Chattanooga, Tenn., location.
The Louisville, Ky., firm picked up two advisors with a total of $200 million in assets.
If your practice needs a push, it may be time to get professional help. Just make sure you find the right partner.
The firm has reorganized its branch leadership with two promotions and a new hire from Morgan Stanley.
Merrill Lynchs ultra high net worth business, the Private Banking and Investment Group, has snapped up two Morgan Stanley Private Wealth Management advisors in Houston, Texas.
A proposed rule requiring advisors to disclose their transition packages when switching firms could change the tone of the conversations in the war for top industry talent.
Morgan Stanley has hired three advisors from Deutsche Bank, Merrill Lynch, and Wells Fargo who combined for more than $3.2 million in production.
J.P. Morgan Securities announced Wednesday it has added eight advisors to its offices in Boston, New York City, and Florham Park, N.J.
Mindy Rosenthal has been promoted to president from executive director of the Institute for Private Investors (IPI), Campden Wealths U.S. subsidiary, and David Berger was hired as CEO for the Americas.
An arbitration panel has ordered Wells Fargo to pay Stifel $800,000 in the latest dispute over alleged raiding of former A.G. Edwards advisors.
The addition of four legacy Morgan Keegan advisors in Austin marks renewed hiring momentum, according to the firms director of retail.
The majority of Wells Fargos hires hail from Morgan Stanley, while one advisor joins from Edward Jones.
Stifel has snapped up 11 former Wells Fargo advisors with more than $1 billion in assets.
RBC Wealth Management added a branch manager with three decades of experience to its Denver Tech office.
After the successful completion of the Morgan Keegan technology integration, the firm is eliminating 160 positions due to overlap in the information technology segment.
Sometimes it takes a "human capital strategy" to develop top talent. One firm has already used this strategy to multiply revenue by more than four times since 2004 with 30% expansion in staff.
Read More: How to Create Top Advisors
Morgan Stanley Wealth Management hauled in nine new advisor hires on Friday with more than $765 million in assets and $9.2 million in fees and commissions.
UBS Financial Services has picked up three financial advisors from Morgan Stanley in Arizona and Indiana who managed $467 million in client assets.
Expanding its New England presence, the firm added a three-decade industry veteran in Connecticut.
Four advisors with over $3.7 million in total production have jumped to Morgan Stanley from Wells Fargo and Merrill Lynch.
RBC Wealth Management has strengthened its presence in Pittsburgh with the addition of five advisors with $2.8 million in combined production.
The happiness of the independent advisor appears to be slightly overrated. By a slight but significant margin, advisors in RIAs arent as happy with their careers as those in wirehouses.
American Century Investments has named Joseph Schultz head of intermediary sales, responsible for the firms field and internal sales businesses, including wirehouses, regional and independent advisors, registered investment advisors, insurance company advisors and broker-dealer key account management.
This latest addition follows RBCs hiring of four Morgan Stanley advisors to the new San Diego office in November.
A Financial Industry Regulatory Authority arbitration panels rejection of compensatory damages requests from both Morgan Stanley and one of its former brokers is the latest example of how deals for sign on bonuses can sour when a new position does not work out.
Headhunters say they believe the new plan, which will allow dually registered financial advisors with at least $100 million in discretionary client assets under management to retain 100% of their advisory fees, will help Raymond James retain and attract top hybrid advisors.
UBS latest hires come after Morgan Stanley hired several UBS advisors earlier this month.
Recruiting and hiring experienced, client-facing advisors with ultra high-net-worth experience is extremely difficult right now, with demand high and supply low, say a number of executive search specialists.
Wells Fargo has hired 17 advisors to its standalone branches and added nine advisors to its independent brokerage business, Financial Network.
The firm continues to expand its presence in Florida with the addition of a second Wells Fargo broker.
Raymond James is going after more top advisors -- and it's changing its payout structure to do so.
Mike Papedis of HighTower advisors says there is a trend toward independence among advisors and it will continue.
HighTower Advisors' Mike Papedis talks about why adivsors leave the wirehouse and what they they look for when going independent.
Mike Papedis of HighTower Advisors talks about some of the hurdles wirehouse advisors face when making the move to independence.
Washington, DC.-based Convergent Wealth Advisors has hired a new managing director of advisor recruiting.
The firm's growth spurt has brought Washington Wealths total AUM, which was at a modest $100 million in December 2011, to well over $1 billion.
The St. Louis firm snapped up a former Morgan Stanley advisor with $114 million in assets.
Kaminsky, who was the cable television networks capital markets editor, will work with Morgan Stanleys financial advisors on client development.
Banks need to keep their customers in mind as just one constituency when designing their compensation plans for advisors
In its second big recruiting move of the year, HighTower has picked up a former branch manager from Morgan Stanley.
Merrill Lynch Wealth Management has lured five advisors with $619 million in assets and about $2.9 million in production in its latest move in the hunt for advisory talent.
Morgan Stanley Wealth Management has snapped up a three-member team from Merrill Lynch with $1.3 million in production in the firms latest acquisition in its hunt for new advisory talent.
Dynasty Financial Partners announced Monday it hired Michael Moriarty as director of investment platforms.
Brown Advisory, an independent investment management firm with $33 billion in assets under management, announced the appointment of Porter Schutt and Bill Dugdale as partners in the firms Wilmington, Del., office.
Since its last major recruiting announcement in November, the firm has extended the reach of its boutique operation with a new office in Beverly Hills, Calif., and a number of new hires in key metropolitan areas nationally.
Some pent up demand could make 2013 a more robust year for recruitment.
The firm is revving up its recruiting efforts as it eyes a growing market.
Are advisors getting it wrong on recruiting and hiring? A new report out from Pershing finds a gap between what advisors say they ought to be doing and what they're actually getting right.
The firm has picked up a 26-year industry veteran to help grow its practice in Florida.
Your practice depends on your employees. Here are 3 ways to help them help you.
Advisors whove been through the deal process offer their recommendations for others considering a deal.
Advisors must adapt to the coming generational shift, TD Ameritrade Institutional president Tom Nally stressed at the company's annual conference in San Diego.
The firm has recruited two large wirehouse teams to open a new office in Stuart, Fla.
Morgan Stanley Wealth Management has snapped up five financial advisors from UBS who previously managed $750 million in client assets.
The advisor population is stagnant and aging; older advisors may not relish the hassles of a moving to a new firm. Meanwhile, barriers to entry for new financial advisors remain highless than 15% of trainees succeed in establishing a viable business.
Less than a week after announcing that it had nabbed a trio of Morgan Stanley advisors in Pennsylvania, Raymond James has added another Morgan Stanley team with more than $700,000 in production.
Three industry veterans with nearly a million in production have jumped from Morgan Stanley to Raymond James in Newtown, Pa.