Career moves

RBC pulls $1.2B and $705M teams from rivals, Merrill gets a $420M duo, and several large M&A deals close.

Matthew Madera has become the latest former JPMorgan private client advisor to be sued after leaving for another firm. In a recent stipulated order, he agreed to stop soliciting former clients until the dispute can be resolved.

The Couch Group's return to Morgan Stanley is the latest evidence that UBS hasn't been able to stop the recent wave of advisor departures.

Transitioning from military to civilian life has its own challenges, but these veterans used their backgrounds to their advantage in their new lives as financial advisors.

Also, an Ex-Truist/Balentine duo start an RIA, Raymond James grabs a team from Wells Fargo and Janney names a new head of advisor recruiting.

The exit of Hannes Hofmann comes amid continuing overhaul of Citi's wealth business and follows on the departure of its private bank's longtime global head Ida Liu.

Wells Fargo pulls $722M in AUM from Merrill while Osaic adds a $540M team from Primerica (but gets sued); Stifel sells independent unit, and First Clearing names new head.

Wells Fargo also pulls from Merrill and Raymond James again from Commonwealth, while AlphaCore buys up a big RIA and the FPA gets a new CEO.

Industry compliance experts say there are few more complicated decisions than knowing when to leave a firm and start your own advisory practice. The government shutdown is making it worse.