Independent advisors

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.

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."