Charles Paikert

The firm was "cut out" from an entire class of advisers, says CEO Alexandra Lebenthal.

The percentage of M&A deals involving brokers leaving for advisory firms has plunged.

Assets under advisement were said to be $13 billion. The AUM was much less.

Median operating profit declined more than 6 percentage points in 2015.

The country's largest independent broker-dealer added 100 advisers in the second quarter.

See which independent broker-dealers have the most high-end reps, plus dive into the average production for the top 10.

Two firms were fined over $100,000 for not disclosing nearly $5M in loans to clients.

"Call it an arms race of offerings," says Jonathan Beatty of Schwab Advisor Services.

The goal is to make clients appreciate the value of services being offered.

Backed by the considerable resources of Manulife Financial, Hancock wants to be a player in an altered IBD marketplace.

Steps firms can take to better serve advisers and become industry leaders.

Even as markets regain footing after vote turmoil, there is still a “dark cloud” that advisers must be ready to discuss, says Greg Valliere, chief strategist for Horizon Investments.

LPL touts its size and scale as a plus to attract advisors, but the company's heft can also work against it, consultants say.

Ash Narayan "secretly siphon[ed] millions of dollars from accounts he managed for professional athletes," the SEC alleged.

"I expect a seismic change as product manufacturers will have to adapt to the new rule," says NextCapital's Rob Forreger.

The year-old automated advice service is revealing some new ways advisers use robos — and it's quelling some big fears.

"If you're a financial services company and you're not thinking of yourself as a financial tech company, then you're probably in a declining business model," says Rob Foregger, co-founder of NextCapital.

"Clients that are buying your services on price are clients that you don’t want," says consultant Jamie McLaughlin.

Better engagement and smart analytics can "lift revenues significantly," according to the Global Wealth Report.

The deal follows a string of acquisitions by prominent private equity firms.