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.

Pat O'Connell, who heads the advisor group, says "literally thousands of advisors" have started interacting with clients using Go Social, and that it's been "very well-received."

Chip Packard, who coheads the German bank's wealth management unit in the U.S., says it’s not clear the firm's UHNW clients wants to replace advisors with automation in the states.

The group of 5 advisors will be opening a new office for the regional broker.

There are big payoffs for advisors who plan carefully.

The OAKS Wealth Management Group has a combined $3.2 million in production.

The new recruit had generated $2.7 million in production before switching wirehouses. A second advisor from UBS who had $1.9 million also went to Morgan.

"The more investments and account types a client has, the more complicated their tax picture can become. Add to that the variations between state and federal tax laws, and the complexity increases further," says Greg Steiger, manager of retirement income planning at RBC.

"Not all brokers put a lot of thought into it. I imagine because it's not where you're making your money," says Robert Gordon, president of Twenty-First Securities. "But they should, because it's part of the service to the client, and because it's the right thing to do."

Advisors describe how both their clients and business benefit when retirement planning enters the decumulation stage.

Experienced wealth managers say they can do the best job of landing a junior partner.