Independent advisors

For some RIAs — particularly those that focus on financial planning — adopting a flat-fee structure can make more sense than a traditional AUM-based model.

Nearly two years into a pilot program designed to test remote inspections of brokers' residential and other remote offices, FINRA feels comfortable enough with the results to push for a permanent policy.

Large wealth managers are chasing a multitrillion dollar opportunity to manage more of their clients' assets. But many high net worth investors give their business to multiple firms, whether out of a desire for protection, habit or a need to shop around for the best returns.

In a recent industry snapshot, the Investment Adviser Association found the average number of data points advisors have to report in annual regulatory filings has nearly doubled to more than 1,000 since 2011.

Median total compensation for certified financial planners climbed to $195,000 last year. But pay varied widely, depending on factors like experience and type of firm worked at.

Valuation experts say RIA purchasers are most attuned to organic sources of growth — assets from new and existing clients. But market gains also play a role.

An industry recruiter says two big questions remain: Can Raymond James keep up its recruiting momentum after most Commonwealth advisors are settled? And how will LPL Financial respond?

Head of Schwab Advisor Services Jonathan Beatty maintains there's more than enough wealth management business for everyone to share. But at least one critic says Schwab is clearly seeking a bigger piece of the pie.

Jim Gold of Steward Partners thinks impending advisor retirements will continue driving smaller RIAs into M&A deals with big acquirers — even as AI turns many investors into "do-it-yourselfers."

FIS regularly hears from RIAs and banks with wealth management departments about the need to have better mobile apps and other digital doorways to their services. A new partnership with InvestCloud is designed to provide just that.

Firms with big recruiting loan balances are often the ones with the most success hiring advisors from industry rivals. But the numbers also suggest they're offering increasingly generous deals.

Schwab clients now must have at least $1 million in assets to qualify for a "dedicated relationship" with an advisor. AI promises to bring similar services to a much broader swath of investors.

Jazz Wealth, whose name honors eccentric musicians who've mastered a difficult art form, specializes in reaching out to "misfit" clients with YouTube videos and events like wine socials.

When the same buzzwords — "fiduciary," "holistic," "goals-based," "client-driven" — appear on most wealth firms' websites, they do little to help firms stand out in a crowded market, experts say. There are, however, tactics that work.

The newly formed Cetera Planning Partners is part of the firm's plan to broaden its channel for advisors working as direct employees.

In a Q1 earnings call, CEO Jim Cracchiolo emphasized the firm's recruiting approach that seeks a "built, not bought" advisor workforce.

The Bahnsen Group, founded in 2015 by a former Morgan Stanley team, has grown into a private wealth powerhouse with roughly 100 employees and offices in three states.

Raymond James spent more than $100 million to recruit and retain advisors in its latest quarter. CEO Paul Shoukry says he'd rather do that than buy another firm.

Proceeds from the sale of Stifel Independent Advisors, aligned with declining litigation costs, helped drive firm-wide revenue to its second-highest level on record.

Adam Cox led the wealth management division of a regional bank for 10 years. His lack of an ownership stake in the business he'd spent so much time building eventually drove him to seek independence.