Advisors on the move

The firm lost 94 existing advisors, but recruited 79 new ones in the first quarter. Here are six of its new additions.

The wirehouse exodus continues, as a team of Wells Fargo advisors jumps ship for the independent firm.

One of the biggest notable losses came from Merrill Lynch, which lost a team managing $1 billion to the independent space.

Among recent career changes, Merrill Lynch lost brokers managing $2.2 billion to rival J.P. Morgan Securities.

As lure, the firm deploys a $52 million technology platform that is the “best that I've seen.”’

This is the second time in recent weeks that the firm has poached talent from the wirehouse.

The advisor was drawn to the regional BD’s small culture.

Advisors have been ditching some of the larger firms for greater latitude.

Known for his advocacy for planning at all income levels, Paré wants the FPA to expand its membership to 24,000 and beyond.

Wells Fargo, Merrill Lynch, UBS and Morgan Stanley all lost talent in 2017.

The firm has been driving its expansion, pulling in talent from its competition.

Stifel says the fact that it owns a bank — instead of being owned by one — is a big appeal in recruiting.

Morgan Stanley alone lost 11 teams managing about $7 billion after its abrupt exit from the protocol pact, according to recent hiring announcements.

The wirehouses have lost teams overseeing more than $12 billion in client assets over the past month, according to recent hiring announcements.

Independent and regional firms have been maintaining strong appeal with new recruits.

Regional brokerages and firms that assist breakaway advisors have been picking off top talent at the wirehouses.

Though the wirehouse notched impressive wins, Merrill wasn't the only firm to land elite recruits recently.

The Broker Protocol is just the first step. Those entering the fiduciary world still have to proceed with caution.

HighTower and Dynasty added big platform clients as wirehouse brokers continued to flee.

The advisers oversaw nearly $900 million in combined AUM, and moved to Morgan Stanley, Raymond James and HighTower.