Career moves

Four elite advisers who left the independent channel to launch their own RIA deliver blow to Wells Fargo's target of a best-ever recruiting year.

Also, Dynasty lured teams managing nearly $1 billion in client assets to independence.

The seven recruits made the move from three wirehouses, Raymond James and Stifel.

With core business down and adviser headcount shrinking, the brokerage nets a profit by selling non-essential divisions.

The legendary money manager is losing his No. 2, Kumar Palghat, who will become co-manager of a new Janus Short Duration Income ETF.

Seven recruits made the move to either the firm's employee or independent channels.

David Paterson, who was the Empire State's top executive from 2008 to 2010, has joined a group that includes former wide receiver Wayne Chrebet.

The turn to an outsider marks the latest twist in a struggle to regain footing after a steep decline.

The recuits joined the wirehouse from Deutsche Bank, which is selling its U.S. Private Client Services unit to Raymond James.

The regional BD also recruited a complex manager from J.P. Morgan.