CEO Rich Steinmeier reiterated LPL's goal to retain 90% of Commonwealth's assets and headcount while listing reasons why advisors might think twice about leaving to start their own RIAs.

The decision to rejoin the CEO and chairman roles comes roughly two months after regulators removed an asset cap that had stunted the San Francisco-based company's growth for seven years.

The Swiss financial giant also saw its assets flow out of its Americas business in the second quarter as advisors left and clients set aside billions for taxes.

After a difficult start to the year, Stifel reported a strong second quarter, with record AUM and net revenue figures for its wealth management division.

The large St. Petersburg, Florida-based wealth management firm claimed its best advisor recruiting figures since the global financial crisis, though it didn't cite specifics.

The Fed's rate cuts last year also took a toll on the company's results for the second quarter, when there were sharp drops in the flow of incoming client holdings.

The brokerage giant's asset tally rose to a record high of $10.76 trillion in the second quarter.

The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.

But the Bank of America subsidiaries nonetheless reported rises in AUM and net revenue in the second quarter while adding thousands of new client relationships.

In an earnings call Tuesday, CEO Charlie Scharf credited brokers in the firm's branches for working with consumer bankers for a 10% increase in new assets.