Bank channel

Banks and other institutions are driving significant recruiting moves while aiming to convince more members and clients to sign up for financial advice.

U.S. retail customers who said their primary bank met their needs for guidance gave it much higher grades, according to J.D. Power’s annual survey.

Most credit unions don’t offer planning services, and affiliating with the No. 1 IBD could help CUNA Brokerage change that, the firm’s president says.

CUNA Mutual Group’s wealth manager of 550 financial advisors will almost certainly represent the largest recruiting move in the sector next year.

More growth is on the way: the No. 1 IBD has one more massive recruiting move and a $300M acquisition to complete.

The IBD network added a community bank’s investment program after exceeding the goals it set at the beginning of 2020, its head recruiter says.

A team that has grown through acquisitions dropped the No. 1 IBD after the institution purchased another one for more than $600 million.

CEO Dan Arnold cites growth in traditional channels and in recently launched models that could bring even more opportunities.

The No. 1 IBD’s 2,500-advisor bank channel will add 285 more reps when two massive investment programs affiliate next year.

The independent firm has been an aggressive recruiter since its founding in 2013.

The policy shift involves a modest number of advisors in Texas as wealth managers also gear up for office reopenings.

The No. 1 IBD added Securities America’s largest enterprise, whose founder says the firm’s new private equity-backed owner made him uncertain about the future.

Firms "pulled in many directions" in recent years can find their way with the right technology, Jemstep CEO Simon Roy says in an episode of Financial Planning's Invest Podcast.

For wealth management to achieve sustainable organic growth, the industry needs to boost the number of households served by financial advisors and firms, consultant Gavin Spitzner says in an episode of Financial Planning’s Invest Podcast.

Fueled by a rebound in trading, especially in fixed income, the company said profit jumped 21% in the fourth quarter.

The Chase Wealth Management and J.P. Morgan Securities operations will become one unit with $400 billion in assets.

Washington Trust warned that it could lose $3 million in annual revenue after two top advisers left to join a brokerage firm. Other banks are facing similar hits.

Joseph Mazzucco and at least two dozen other advisors affiliated with the No. 1 IBD in eight moves over a seven-week span.

The private equity-backed parent now spans four independent broker-dealers with nearly 2,000 advisors and $65 billion in client assets.