Dan Shaw

As one advisor leaves Commonwealth Financial Network to join Osaic and others depart to start RIAs, industry experts say the departures are in line with expectations.

Panelists on a FINRA arbitration board cited Randy Anderson's claims of age discrimination when questioning UBS's reasons for firing its former broker. Now UBS argues in a court filing that no evidence of discrimination was ever presented.

As Raymond James, Wells Fargo and RBC reported big recruiting deals this week, FINRA said it was going to pay back to its members a large chunk of the fees they paid last year.

In separate cases, two federal judges found that neither Wells Fargo nor LPL had a fiduciary obligation to look for clients' best interests with uninvested cash held in brokerage accounts.

The deal to buy Natixis' overlay management services comes amid a general push by the St. Louis-based firm to broaden its appeal to HNW clients.

A FINRA arbitration panel's decision marked a rare rebuke for a large wealth manager seeking to reclaim money it provided an advisor recruited from a rival.

Osaic and UBS have both been on the losing end of some recruiting deals in recent months, while this week Cambridge, Rockefeller and RBC were on the winning end.

LPL says its elimination of positions at Atria Wealth Solutions was always part of its plan to acquire the firm, drawing a sharp distinction with what it's doing with Commonwealth Financial Network.

Patrick Funke & Associates' decision to join Commonwealth Financial Network suggests that despite its pending purchase by LPL, Commonwealth still appeals to advisors seeking a smaller setting.

Roughly 200 advisors at the firm are being named "founder specialists" for their track record helping entrepreneurs do everything from set up employee-benefit plans to take their firms public.

Also this week, Raymond James pulls from Ameriprise, UBS from Morgan Stanley and LPL from RBC.

Jamie Price of Osaic says attrition at his firm was below expectations during its recent internal consolidation of nine separate brokerages and that not having a self-clearing and self-custody business is an advantage these days.

George "Keith" Demetriades was accused of violating nonsolicitation clauses and misappropriating trade secrets after leaving for an RIA in 2023.

The deal marks the purchase of one private equity-owned firm by a much larger one with majority private equity backing.

Now at Wells Fargo, Matthew McCrea is accused of violating a nonsolicitation agreement he signed at JPMorgan. The suit echoes allegations JPMorgan made days earlier against a broker now at Morgan Stanley.

The industry watchdog is walking away from more than a dozen regulatory reforms that had drawn staunch opposition from advisors and industry groups.

RBC Wealth goes to UBS again to pull over advisors with large AUM tallies; Carson Group buys a firm in Colorado, and Goldman Sachs alumni set up an RIA through Dynasty Financial.

An advisory panel has recommended changes that would bring arbitration rules for RIAs into line with those now governing FINRA proceedings for broker-dealers. The proposal still has to get through the SEC.

Amid a broad deregulatory push, industry watchdogs are seeking to lower barriers that now limit many alternative investment products to so-called accredited investors.

Ted Pick and Paul Shoukry both see advantages in their firms' ability to invest in technology, offer banking services and provide access to alternative investments.