Independent advisors

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.

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.

Advisor pay policies are often notoriously complicated affairs. LPL is seeking to simplify it all with a new AI offering that promises to bring "clarity and intelligence to every payout."

A proposed "model rule" would give state regulators laws they could adopt to bring their marketing regulations for investment advisors in line with the SEC's.

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.

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.