Independent advisors

Brokers were worried a new rule intended to lighten their responsibility to monitor advisors' side hustles would ironically mean greater supervision duties with RIAs.

A Ninth Circuit appellate panel ruled that10 advisors recruited to LPL from Ameriprise have the right to resist turning over their personal devices to a forensic examiner to be searched for evidence of misappropriated client data.

Philadelphia-based Clark Capital will be one of several "boutique" firms in Raymond James' global asset management division.

Wells Fargo stands out among wirehouses with FiNet, its dedicated channel for independent advisors. Wells Fargo Advisors head Sol Gindi says this structure gives the firm a competitive advantage rivals will find difficult to replicate.

The regulator considers raising the AUM threshold it uses when considering how newly proposed rules are likely to affect small RIAs.

Also, DayMark Wealth Partners sells a minority stake to Constellation Wealth Capital.

An industry lawyer warns that RIAs often don't do enough to delineate their responsibilities and shield themselves from liability when they add tax preparation to their service offerings.

With the rapid growth of the RIA industry, large wealth managers are increasingly finding ways to make money by supporting independent advisory practices.

A new Cerulli report finds that advisors who outsource investment management spend more time in direct dealings with clients.

LPL executives have said they're well on the way to retaining 90% of the client assets they're seeking to bring over from their recent purchase of Commonwealth. But advisor departures have ticked upward.

Scott Posner, who's in charge of advisor and institutional recruitment as LPL's business development head, on why LPL leads in advisor "capture" at a time when fewer teams are switching firms.

LPL CEO Rich Steinmeier said the firm is nearing its goals for retaining Commonwealth Financial Network's assets and advisors, freeing up internal recruiters to bring in advisors from other firms.

Industry compliance experts say there are few more complicated decisions than knowing when to leave a firm and start your own advisory practice. The government shutdown is making it worse.

Dynasty Financial Partners' investment bank joins Diamond Consultants to help departing teams vet transition options, whether that's joining another wirehouse, selling to an RIA aggregator or starting their own business.

Janney also adds teams from Morgan Stanley and UBS, while LPL Financial picks up advisors from Janney for its direct employee channel.

Though advisors keep heading for the door following the sale of Commonwealth, industry analysts believe LPL Financial can still hit its post-purchase goals for retaining assets and headcount.

The purchase comes as Creative Planning seeks to build out its expertise in managing retirement plans.

Francisco Gil tried to claim his status as an independent contractor entitled him to tax deductions for travel, meals and marketing expenses. The IRS and a federal judge said he was in fact an employee.

Golden State Wealth Management is just the latest large advisory team to exit UBS following changes the wirehouse made to its compensation policies.

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