Independent advisors

LPL saw its net income swell while considering price changes meant to lower payouts on client assets.

Schwab directly or indirectly manages only 2% of the $37 trillion in U.S. wealth that could be in the hands of advisors, according to CEO Rick Wurster. The size of the opportunity means there is no need to compete with the firm's RIA clients.

Even more than access to alternative assets and simplified platforms, advisors are looking to outside account providers to help them manage clients' taxes.

In its annual survey of industry consolidators, DeVoe and Co. detects signs that the upward march of RIA deal valuations may soon come to a halt.

JPMorgan has a habit of taking its former private client advisors to court and accusing them of trying to steal clients they met through bank referrals. An industry recruiter says such suits aren't necessarily a sign of recruiting deals gone bad.

Brooke Pilant, who was at Ameriprise from 2017 to 2024, accused the firm of turning against her after she raised concerns about "unethical practices."

As large wealth managers struggle to retain advisors seeking greater independence, Wells Fargo has taken a distinct approach with its FiNet channel. But is the loss of profit margin worth the retention gains?

Although low-cost ETFs remain the most common component of model portfolios built by BlackRock and other third parties, private credit, equity and other alternatives are gaining ground.

Many clients avoid consolidating their assets at a single firm because they don't want the hassle. Advisors say it's important when to know not only when they're most likely to want to move assets, but also what to say.

Some advisors say they already have a hard enough time explaining what a fiduciary is under federal law and that NAPFA's new definition for fee-only planners will only add to the confusion.

Median sale prices for RIAs have long been ticking upward. But some valuation experts argue that impending retirements could lead to an oversupply of firms on the market — and lower price tags.

Clients have many reasons for not divulging details on the assets they have at, including embarrassment. Advisors say it's still important to understand their total financial picture and, above all, not be judgmental.

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.