Industry

The sale could see up to 50 advisors move to Stifel but doesn't involve B. Riley's 190 independent wealth managers.

Before the injunction, Gary Carruthers is believed to have poached $24.3 million in client assets in breach of a nonsolicitation agreement.

Dimple Shah, Osaic head of corporate strategy, said she and other executives expected some advisors to leave during the firm's "Journey to One" and that attrition has been mostly in line with expectations.

Despite most clients expecting holistic planning services, many advisors still don't provide them. And those who do are far from agreeing on how to best charge for them.

Opto Investments is building out a fully integrated tech platform for RIAs to gain access to the multitrillion-dollar private markets.

The case is the latest example of what Ameriprise paints as LPL's systematic overstepping of bounds in its advisor recruitment.

An LPL vice president testified that 30 former Ameriprise advisors imported client information for accounts with more than $1 billion under management and $16 million in yearly revenue generation.

Modern Wealth also pushes its AUM over $6 billion with an M&A deal, and Americana Partners of Dynasty Financial gets private equity backing.

The Chicago-based RIA giant is taking majority ownership in NEPC, a firm offering institutional research and new investing opportunities.

The appointment comes less than a month after the former company head, Dan Arnold, was fired for failing to maintain a respectful workplace.