Advisor Moves

As analysts raise concerns that AI could undermine the economics of generous transition deals, executives at Ameriprise, Stifel and Raymond James wonder if firms are paying too much to recruit advisors.

An industry recruiter said departing Commonwealth teams tend to stick with brokerages because their objections are less to IBDs and more to LPL. Generous transition deals also help.

Although many advisors choose to leave Wall Street mainstays in favor of firms offering greater independence, some find they're still most at home at another wirehouse. Just ask Todd Hatfield.

As large wealth managers struggle to retain advisors seeking greater independence, Wells Fargo has taken a distinct approach with its FiNet channel. But is the loss of profit margin worth the retention gains?

Retaining Bartholomew & Company comes as a big victory in LPL's bid to hold on to AUM and advisors from its acquisition last year of Commonwealth Financial Network.

The big moves hit the Swiss firm as it continues to lose advisors on a net basis — though now it's reportedly sweetening its recruiting offers.

An industry recruiter says two big questions remain: Can Raymond James keep up its recruiting momentum after most Commonwealth advisors are settled? And how will LPL Financial respond?

Gryphon Wealth will keep Wells Fargo Clearing Services as its custodian in a deal that brings in tech support from TradePMR, a firm acquired by Robinhood in 2024.

Firms with big recruiting loan balances are often the ones with the most success hiring advisors from industry rivals. But the numbers also suggest they're offering increasingly generous deals.

In Wells' latest big recruiting deal, two separate groups at Merrill are coming together to form Twin Harbors Private Wealth at Wells Fargo Advisors Financial Network, or FiNet.

Principality Private Wealth adds to the 115 teams &Partners has onboarded since its founding in 2023.

Bartoli Private Wealth Management Group comes to Wells Fargo following two other large advisory practices that recently joined from Morgan Stanley and UBS.

Wells' latest advisor recruiting coup comes just days after it pulled over a 19-person team formerly managing nearly $6 billion at Morgan Stanley.

Jazz Wealth, whose name honors eccentric musicians who've mastered a difficult art form, specializes in reaching out to "misfit" clients with YouTube videos and events like wine socials.

The Taylor Group of Wells Fargo Advisors is led by nine advisors, all of them relatively young and many of them siblings.

The Bahnsen Group, founded in 2015 by a former Morgan Stanley team, has grown into a private wealth powerhouse with roughly 100 employees and offices in three states.

Touchstone Wealth Partners is the fourth team with more than $1 billion in client assets to join Wells Fargo's FiNet unit this year.

The addition of Peter Laidlaw to Merrill's offices in San Francisco comes as firm executives aim to engage in "more aggressive recruiting."

The LPL–Commonwealth megadeal set off a two-sided scramble. As LPL fought to retain advisors and assets, rivals raced to poach both.

The Apollo Group, a six-person team in New York, is the latest to show that former First Republic advisors are still not completely settled at JPMorgan.