Charles Paikert

The heart of the initiative is helping the apprentices build up their own books of business by emphasizing prospecting skills – including cold calling.

“Why should a really good smaller firm that’s growing have a lower multiple than a big firm that’s crappy?” asks Peter Raimondi, president of Boston Private Wealth.

Proponents of advisory firms going public cited “powerful” advantages while detractors point to “hollow” promises.

The primary buyers of advisory firms are RIAs, banks and roll-up companies.

Travails of parent company RCS Capital have been "distracting" but haven't impeded expansion, says Douglas King, Cetera Advisor Networks' president and CEO.

"BlackRock is potentially a very powerful partner for advisors," says Sean McDermott, Corporate Insight analyst.

"The D.C. metro area is a hot market," says Savant Chief Executive Brent Brodeski.

Clients are understandably worried, but smart advisors can calm their nerves. Here’s how.

People are looking at social security more strategically… it's heavily nuanced [and] if you make the wrong decision it has significant implications for the future," Howard Schneider, president, Practical Perspectives.

The Bronfman-Highline deal is the 74th RIA M&A transaction this year, and is unlikely to be the last for the firm going forward. "We love this business…and we have capital," says Matthew Bronfman, chairman.