Industry

The wirehouse picked up the Blaustein Clancy Financial Group in New York.

Both wealth managers, who left UBS, also had a combined $289 million in client assets before making the move, RBC said.

One of the advisors managed about $200 million in client assets while working for the wirehouse. The other joins a $500 million team at Janney, the firm said.

About a quarter of fee-only advisory firms we surveyed in February said they had changed their fee structure in the past year (as did 20% of all independent firms). So what did they do? We combed through respondents' individual comments to identify several of the changes firms have made.

About a quarter of fee-only advisory firms we surveyed in February said they had changed their fee structure in the past year (as did 20% of all independent firms). So what did they do? We combed through respondents' individual comments to identify several of the changes firms have made.

"We're betting on financial advisors and personalized financial advice delivered by people," says RJFS President Scott Curtis.

Overall M&A deal values in the asset management industry surged last year to $12.7 billion compared to $2.6 billion in 2013, but growth was largely driven by a few mega-deals, as the total number of deals remained flat.

After selling Cetera for a rich $1.15 billion, Donald Marron's Lightyear Capital picks up a $4.7 billion hybrid RIA.

Three advisors left the wirehouse to join the independent brokerage network at Wells Fargo.

Striking a balance between the emerging and traditional realms of investing is where Motif Investing sees its niche, says its co-founder and CEO Hardeep Walia.