Ralph Ortega

The high-ranking recruit will work on the firm's expansion plans and serve as a liaison between branch managers and top brass.

The recruits include two advisors who joined the employee channel at Ameriprise and three who went over to the firm's independent side.

Advisors are applying this familiar approach using new technology and strategies to deliver for their clients.

The group generated annual revenues of $3 million before making the move.

The Rosen Team had $2.6 million in annual production before switching wirehouses.

A team with almost $1 million in production left the wirehouse to join the independent side of Raymond James.

On Wall Street's annual Top 40 Under 40 rankings recognize the hard work of an elite group of young professionals employed by the wirehouses and largest regional broker-dealers. The editors of On Wall Street are now accepting nominations for the overall Top 40 Under 40 ranking, and Top 40 Under 40 Advisors at Regional Broker-Dealers. The results will be published in January.

There's no place for complacency these days, and the biggest wealth management players anticipate changes by regularly adjusting their strategies.

The self-regulatory organization plans an internal and external search to replace the industry veteran.

A recent recruit to wealth management comes to the industry after working in financial services management and serving as a lieutenant colonel in the Marines.