Career moves

As Raymond James, Wells Fargo and RBC reported big recruiting deals this week, FINRA said it was going to pay back to its members a large chunk of the fees they paid last year.

The momentum is clearly accelerating behind registered investment advisory firms, but every individual team's choice requires careful consideration.

Osaic and UBS have both been on the losing end of some recruiting deals in recent months, while this week Cambridge, Rockefeller and RBC were on the winning end.

Also this week, Raymond James pulls from Ameriprise, UBS from Morgan Stanley and LPL from RBC.

RBC Wealth goes to UBS again to pull over advisors with large AUM tallies; Carson Group buys a firm in Colorado, and Goldman Sachs alumni set up an RIA through Dynasty Financial.

LPL Financial also pulls an advisory team from RBC, and Cetera hires a chief fiduciary officer for its trust subsidiary.

Brian Mora, senior vice president of experienced advisor recruiting, thinks Ameriprise has the antidote to the high dropout rates seen in most industry training programs.

The transition challenges were great, writes Kimberly Foss; the ultimate rewards for her and her clients, even greater.

UBS continues to lose larger advisory teams after making changes to compensation policies last year. Meanwhile, Ashton Thomas and LPL both score advisory teams.

Also this week, LPL picks up teams from Cetera and Ameriprise and Stifel draws from Merrill