Industry News from Financial Planning

The up-and-coming IBD Arkadios recruits an entire Morgan Stanley team and a significant share of Merrill's headcount in Dothan, Alabama.

The tide is in the wirehouse's direction in its fights with advisors who've left for rival firms.

Also this week, Raymond James picks another team from Commonwealth amid its purchase by LPL, and Cetera recruits from B. Riley Wealth Advisors.

Bloomberg reports that Citi has enlisted a law firm to look into complaints about Andy Sieg's behavior to current and former colleagues, including former private banking head Ida Liu.

The numbers don't reflect much change in the low representation of female wealth management professionals, but there are some signs of progress.

Only about 4% to 6% of advisors switch firms in a given year, for any number of reasons. Here's how growing advisory teams add to their ranks.

Stanley Tulin and his wife, Riki, say they were deprived of more than $19 million by a scam run by their former investment advisors. And JPMorgan, they argue in a lawsuit, could have prevented the whole thing.

Today's bereaved women clients expect respect, empathy and real connection from wealth managers as the great wealth transfer unfolds.

A group of former Ameriprise brokers argue they had no say in a court agreement requiring them to hand over their cell phones and other devices to a third-party forensic examiner.

Retired women find themselves leaning on Social Security as a primary source of income at greater rates than men, according to new research from the Transamerica Institute. Financial advisors say that has significant implications for retirement planning.

Plus, UBS loses a pair of advisors from a prominent team to Morgan Stanley, while SageView and Corient make big acquisition deals.

Each of the biggest firms in the channel grew substantially in 2024, but LPL's giant M&A deal to buy Commonwealth for $2.7 billion has further consolidated the ranks.

Firms like LPL, Cambridge, Osaic, Independent Financial, Commonwealth, Raymond James, Ameriprise and Cetera are racing to develop new tools.

Edward Jones reported a sharp decline in net new client growth for the second quarter, even as it brings on more advisors to the business.

Longbridge Wealth Advisors of North Canton, Ohio is dropping its Ameriprise affiliation.

Also this week, both Arax Investment Partners and Aspen Standard Wealth add RIAs with $1B in AUM.

One study uncovered interesting findings on market saturation, while another shed light on the regional trends shaping M&A deals.

Being a financial advisor with ADHD comes with challenges. But it can also lead to positive change.

Valuation experts caution that advisors selling their businesses put too much weight on EBITDA multiples and overlook many factors that can reduce the value of a deal.

AFE Private Wealth's upcoming move to a larger office will launch what its partners say is a separate but symbiotic pairing with an exclusive gathering place.