Advisor Moves

Also this week, Hightower invests in a large RIA and Bernstein names a new head of wealth management.

Also this week, a Dynasty Financial firm picks up a $1.5B team from Morgan Stanley, Wells Fargo recruits from PNC Investments and UBS, and LPL draws from Osaic.

Also this week, Focus Financial ups the responsibilities for some top executives and Advisor Asset Management appoints a new CEO.

Edward Jones meanwhile reshuffles its leadership ranks amid its push to become a full-service financial planning firm, and Rockefeller picks up big teams from Merrill.

In a big week for industry recruiting, Stifel lands practices managing $2.9 billion at Merrill, Merrill recruits a $1.9 billion team from Raymond James and Rockefeller pulls part of a $2.3 billion team from UBS.

Modern Wealth also takes on $1B in AUM through two acquisitions, and LPL hires a chief data, AI officer from JPMorgan.

Also this week, Raymond James recruits from Morgan Stanley, and Mercer Advisors and EP Wealth Advisors make big M&A deals.

Also this week, Ameriprise CEO James Cracchiolo sees a 12% bump in compensation in 2024 and new LPL CEO Rich Steinmeier also sees a hefty pay bump.

Stifel pulls a $1.35 billion team from Raymond James, while LPL draws from Edward Jones and Wells Fargo, in advisor moves this week.

Also this week, Captrust scoops up a $1.4 billion RIA, and Mercer Global adds a head of M&A.