Industry

New role will oversee leaders and businesses of Wells Fargo Advisors Financial Network (FiNet), First Clearing, and the Registered Investment Advisor (RIA) custody business.

First United Bank in Oklahoma bought a minority stake in Exencial Wealth Advisors instead of acquiring it outright to give the owners an incentive to stick around and help build the business — and to make it easier for the bank to bail if things don't work out.

With succession plans fueling the industry’s continuing records in M&A deals, one firm is trying to address the challenge through its acquisition strategy.

CEO Michael Farr will also become Hightower’s new chief market strategist.

David LaValle, former chief executive officer of custom index provider Alerian, will drive the effort to convert the $25 billion Grayscale Bitcoin Trust into an exchange-traded fund.

Financial advisor Alan Kodama’s team aligned with the No. 1 IBD as it reeled in $35 billion in recruited client assets in the second quarter.

The TAMP saw record quarterly inflows under new CEO Natalie Wolfsen, who has plans to make a splash in wealthtech M&A.

Despite fewer incoming advisors, CEO Ron Kruszewski says the company’s pipeline is strong and extending to the independent channel.

A roundup of this week's news includes advisors on the move, new hires and SEC enforcement.

At least 10 senior bankers and numerous junior employees across the world’s largest wealth management market have left.