Independent advisors

Like other wealth managers that have ceased reporting advisor numbers every quarter, Raymond James says the figures have lost meaning.

Stifel chief executive Ron Kruszewski said surging markets have forced firms to be particularly choosy about which advisors they try to poach from rivals. That may change this year.

Jeffrey Dobyns, the president of SageSpring Wealth Partners, says he and his colleagues were looking for greater freedom to make use of technology their clients wanted and needed.

Lack of freedom and limited investment choices may be driving advisors at broker-dealers to leave their firms this year.

Failing to have a solid succession plan is one of many risk factors that can tank an advisory practice's selling price, industry pros warn.

Michael Nathanson, CEO of the RIA aggregator, envisions a day in the not-distant future when firms like his will sit on $1 trillion or more in client assets.

Michael and David Sztrom, who settled fraud allegations with the SEC in 2022, contend the regulators' "follow on" attempt to boot them from the industry violates their constitutional rights.

The fast-moving RIA aggregator has been undergoing an internal reorganization since 2023 in a bid to consolidate the many firms it has scooped up over the years.

The "model rule" for state regulators is meant to help clients distinguish between advisors who earn management fees and brokers who collect transaction-based commissions.

Fifth Third Wealth Advisors President Eric Housman thinks his bank's $2 billion advisory practice still occupies a distinct position in the industry. But it's not likely to stay that way.

Michael Bernier oversaw roughly $165 million in client assets at Canter Strategic Wealth Management, a firm with $300 million under management. Then he left to join LPL.

The standard-setting group is mulling increasing continuing education requirements and requiring that CFP aspirants have certain types of financial planning-related experiences, among other changes.

The rival firms will pay for a forensic consultant to preserve evidence of transferred confidential data while they await FINRA arbitration.

Critics of mandatory arbitration say it can go against investment advisors' fiduciary duty to always do what's best for clients.

Wealth Enhancement Group is the second large OSJ to go separate ways from LPL, following Merit Financial Advisors

Consolidation may be a prevailing industry trend. But the founders of a Chicago-based RIA see no reason to join a large aggregator.

The regulators' organization is also seeking to let state regulators enforce the same Reg BI conduct standard that federal watchdogs now apply to broker-dealers.

The sale could see up to 50 advisors move to Stifel but doesn't involve B. Riley's 190 independent wealth managers.

Despite most clients expecting holistic planning services, many advisors still don't provide them. And those who do are far from agreeing on how to best charge for them.

CEO Paul Reilly said that even if the firm is recruiting fewer advisors, the books of business it is bringing on are growing only larger.