Baird has appointed a director for its Houston market and has picked up another advisor with $350 million in client assets.
The wirehouse aims to appeal to the next generation of advisors with its new Team Financial Advisor training program.
A veteran advisor has left Morgan Stanley for a Chicago-based boutique investment firm where he will oversee $300 million in client assets.
Securities America will acquire assets of a Missouri-based full-service broker-dealer with 368 advisors and $2.4 billion in client assets.
Two financial advisors have left Wells Fargo to join Raymond James Financial Services, the regional's independent broker/dealer.
Despite their smaller size, these boutique IBDs outperform on several desirable metrics.
J.P. Morgan enticed advisors from competitors, including Morgan Stanley, Merrill Lynch and Wells Fargo, in a half dozen markets to fuel its nationwide expansion of wealth management.
Baird and McAdams Wright Ragen will combine offices in Portland, Ore., following Baird's recent acquisition of the Seattle-based broker-dealer.
A Morgan Stanley team that managed over $650 million has gone independent using a new consultant.
Benjamin F. Edwards grabbed nearly a dozen advisors and opened offices in three states.
A Morgan Stanley advisor with $200 million in assets under management has rejoined Merrill Lynch.
Morgan Stanley has picked up five financial advisors from Merrill Lynch, Wells Fargo and J.P. Morgan.
Deutsche Bank's asset and wealth management unit is in growth mode in the U.S., hiring a string of managers and advisors.
With the acquisition of broker-dealer McAdams Wright Ragen complete, Baird has grown to more than 800 advisors and $125 billion in assets.
Morgan Stanley has lost a team that generated $3 million in annual revenue to Steward Partners Global Advisory, boosting the eight-month old independent firm's total recruited assets to more than $1 billion.
Ameriprise enticed away a Morgan Stanley advisor who generated $1 million in annual revenue, according to a spokesman for the regional broker-dealer.
A complex manager at Merrill Lynch was promoted to market president at Bank of America.
Two advisors managing more than $160 million in client assets have jumped from Merrill Lynch to Bison Financial Group, an independent practice of the Wells Fargo Financial Network.
Two UBS advisors managing more than $300 million in assets have joined Wells Fargo.
The recruiting firm awards exam fee reimbursements to three new planning graduates -- as long as they pass the test.
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Father-and-son advisor team managing more than $200 million in assets left Sterne Agee for Raymond James.
A Stifel advisor team that managed almost $200 million in assets has left the firm to join Raymond James & Associates.
An advisor team managing more than $170 million in client assets has left UBS to join Stifel, Nicolaus.
UBS, Switzerlands biggest bank, named former U.S. Senator George Mitchell chairman of a new advisory council for the firms business in the Americas.
Morgan Stanley, owner of the worlds largest brokerage, received more than 90,000 applications for its summer program for analysts and associates.
Two former RBC advisors managing about $230 million in combined assets jumped to Baird.
A UBS advisor team managing $430 million in assets has left the wirehouse to join regional broker-dealer First Kentucky Securities.
A former UBS Advisor with more than $130 million in assets and $1.2 million in annual production made a move to RBC Wealth Management-U.S.
RBC Wealth Management-U.S. has recruited a former Morgan Stanley executive director to help with the firm's growth plans.
U.S. Capital Advisors, a small regional firm in Texas, has recruited five former UBS and J.P. Morgan advisors who managed more than $500 million in combined client assets.
Merrill Lynch lured away two advisors from Barclays Capital, where they managed a combined $285 million in assets.
A former Merrill Lynch executive has joined Focus Financial Partners to co-head a program that helps wirehouse advisors go independent.
Regional wealth manager D.A. Davidson is launching a new training program aimed at bringing recent college graduates into the financial advisor profession.
A former J.P Morgan advisor team that managed $1.5 billion in client assets has left the firm to join Wells Fargo Advisors.
Two former UBS advisors are moving over to Stifel.
Stifel Nicolaus & Co. has added a former Morgan Stanley advisor who managed more than $250 million in assets.
Two former Wells Fargo Advisors who managed $400 million have left to join a firm with Focus Financial Partners, the network of independent financial advisors.
A former Merrill Lynch advisor team has left the wirehouse to form Quadrant Private Wealth, a new partner firm of Focus Financial Partners, according to a spokesperson.
Millennials represent $1.5 trillion in purchasing power and they want things the way they want themif you want their business, you have to change, not them.
Most of the new arrivals are employees of larger financial service companies, said president Scott Curtis, and about 25% are already independents.
The firm lures three separate teams who manage a total of more than $500 million in client assets.
UBS grabbed a former Merrill Lynch advisor who managed $500 million in client assets.
Benjamin F. Edwards snapped up four advisors from Wells Fargo and opened a new office in Pensacola, Fla.
Two Merrill Lynch veterans who generated about $1.6 million have left the wirehouse for Raymond James & Associates.
Morgan Stanley has lost two advisor teams that managed more than $400 million in assets.
Emboldened by a newfound sense of what their investment programs offer, more banks are turning to wirehouses for recruits.
Raymond James has recruited a veteran advisor from Morgan Stanley where he managed more than $360 million.
Stifel, Nicolaus & Company picked up two wirehouse teams that managed more than $1 billion in combined AUM, boosting the St. Louis-based firm's presence in the Carolinas to 18 offices from 15.
A former Morgan Stanley advisor team that managed $600 million in assets has left the wirehouse to join forces with HighTower.
Former wirehouse complex manager Tony Sirianni launches Sirianni Strategy Group, a consulting and marketing firm, to help independent firms attract wirehouse advisors.
Advisors demanded that the group help 'draw a line' between financial planners and salespeople, and help them solve other challenges.
Two former wirehouse advisors that managed more than $80 million in client assets have left Wells Fargo to join Raymond James & Associates, the firm's traditional employee/broker-dealer.
Switzerlands biggest bank hired Ros Stephenson from Barclays to be global chairman of corporate client solutions, reporting to Andrea Orcel, the investment bank's chief.
A former wirehouse advisor team with $350 million in assets has left Wells Fargo to join RBC Wealth Management-U.S.
Merrill Lynch has scooped up two advisors with $3 billion in assets under management from rival wirehouse giants UBS and Deutsche Bank.
The Cypress Group, a former Morgan Stanley team that managed about $740 million in assets, has left the wirehouse to join Integrated Wealth Management.
With nearly $400 million in assets, the trio will bring their new firm's assets to roughly $1.3 billion.
Revenue growth combined with high expenses and a challenging recruiting environment; CFO calls advisor pipeline 'solid' despite defection of 40 bank advisors.
Revenue climbs and assets grow, but net income slips at the country's biggest independent broker-dealer.
'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.'
Developing successful training programs that embrace Millennial advisors is the single most important way to attract and maintain the wealth of this new generation.
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.
Planners thinking of retirement often seek young partners to share the business. But such pairings can be tricky to pull off.
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.
Deutsche Bank's wealth management unit has recruited former-Barclays advisor Chris Guttilla.
Janney Montgomery Scott recruited an advisor team with $1.7 million in annual revenue from Barclays.
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.
Washington Wealth Management has recruited two advisors from UBS and Wells Fargo, where they collectively managed approximately $150 million in assets.
AUM drops 31% as more top brass depart, with parent SunTrust filling executive ranks with veterans of the bank.
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.
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.
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.
Louisiana-based Summit Financial aims to expand establish itself as a regional power in the Southeast, leveraging its location between New Orleans and Houston.
RBC Wealth Management has recruited an advisor specializing in global high-net-worth clients with $2 million in production.
Wells Fargo Advisors Financial Network has picked up advisors with more than $424 million in assets under management.
Benjamin Edwards is luring away talent from Wells Fargo, boosting its presence in the Midwest and New England.
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An advisor team which managed more than $600 million in assets at Merrill Lynch has left the firm to join Morgan Stanley.
The ability of advisors to recruit and manage millennials will likely play an important role in the industry's sustainability.
Raymond James is recruiting the industry's top talent at the expense of the wirehouses.
Janney Montgomery Scott recruited a veteran Merrill Lynch advisor with $1 million in production.
The firm continues its recruiting bonanza with the addition of an advisor-team from Morgan Stanley with more than $1.3 million in production.
Advisory firms are embracing social media to help with recruiting and hiring talent. Keep a few rules in mind.
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LPL Financial says the pace of new advisors affiliating with the firm has slowed from the levels of late 2013 "in part due to disruptive weather."
A "sunset program" for soon-to-retire advisors is already underway at some banks. But there is still much to be done, industry executives say.
Raymond James is on a recruiting spree, poaching million-dollar teams from Merrill Lynch and Wells Fargo, and now grabbing a UBS team with $1.9 million in production for the company's Charlotte, N.C., office.
Despite some bright spots, the bank channel has some surprising areas in need of improvement, according survey findings unveiled at the annual review-and-preview at this week's BISA conference.
That makes for two big recruits in two days. A day after announcing the addition of a $1 million team from Wells Fargo, the firm has landed a second million-dollar team.
Banks and credit unions need to up the ante if they want to lure advisors from other firms.
Advisors grappling with hiring costs can take heart: Wooing and retaining young advisors goes beyond cash compensation, industry experts say. Consider including some of these benefits in your recruiting pitch.
The husband-and-wife team is the eighth team to join HighTowers New York headquarters.
With the advisor population aging and looking to retire, more wealth management firms are stepping up their efforts to recruit and train a new generation of advisors.
Make no mistake: Bringing on new talent is a high-risk endeavor. Be sure you get it right.
RBC Wealth Management is expanding its presence in Texas. The Minneapolis-based broker-dealer has added six veteran financial advisors from Morgan Stanley to its office in Austin, Texas.
If an advisor is offered 360% of trailing-12, this app will break down the details: how much is upfront and how much is doled out for various thresholds along the way. Plus, annual payout bonuses will be revealed.
Advisors who want to hire millennials need to extend a hand, says one workplace consultant.
Enterprise growth, Gen Y outreach and a "war for talent" were in the spotlight last week as more than 1,600 advisors and about as many vendors and industry consultants gathered in Orlando, Fla., for TD Ameritrade Institutional's annual national conference.
You've finally hired some smart young associates. Consider these ideas to make them as productive as possible.
At the group's national conference in Orlando, president Tom Nally announces several new initiatives aimed at helping advisors expand their businesses.
Advisors can no longer expect to hire only seasoned, mid-career professionals with an established book of business, industry experts say.
If the graying financial services industry is to replenish the ranks of retiring advisors and brokers, firms and trade groups must take a more active role in promoting the field to millennials, says Pershing's Mark Tibergien.
What should you be doing to ensure that your culture and management mentality perpetuate an attractive place for new hires to work and grow for years to come? Here are some tips to consider.
Dynasty Financial Partners has hired Ronald Sallet as senior vice president of network development, making good on its promise to boost business development in 2014.
Northwestern Mutual is fishing for talent -- and it's using 6,400 hooks.
As the cost of recruiting new advisors has soared, says CEO Erica McGinnis, such small-scale growth has become more difficult -- and more expensive.
An advisory group in Winter Park, Fla. with $550 million in client assets leaves Morgan Stanley to go independent.
Granite Financial says it hopes moving to the IBD will power growth.
The well-financed venture promised big hiring in 2013, but a November ADV form shows them well short of goal.
An overwhelming majority of Hispanic and African-Americans say that financial services firms need to hire more diverse staffs, according to a survey conducted by Harris Interactive on behalf of Edward Jones.
Your expansion strategy may determine your firm's ultimate success. Be sure to get this one right.
The New York-based platform outsourcer and service provider for large wealth management firms is beefing up its business development team, vowing to become much more aggressive in going after new clients.
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.