Industry

Industry changes mean branch managers risk more but earn less.

There's no doubt branch managers play a critical support role for financial advisors, but the job is no longer just the coveted position advisors sought after a successful run.

Tommy Boyd started his practice in 1984 in Selma, Ala. Three decades later Boyd is working with multiple generations of clients across several states.

With new regulations on the horizon, a top FINRA official highlights the agency's efforts to establish a more flexible oversight regime that will be less of a drain on a practice's resources.

Once obscure, business development corporations, small business investment funds, are attracting attention.

Stifel Nicolaus & Co. has added a former Morgan Stanley advisor who managed more than $250 million in assets.

Jason Stamm will lead a team of more than 350 investment, trust, private banking and financial planning professionals. He succeeds Mike Ott, who was recently named president of the business nationwide.

By snapping up a series of independent B-Ds in quick succession. the RCS Capital executive chairman has instantly made himself an industry player. He talks to Financial Planning about his plans.

Two former Wells Fargo Advisors who managed $400 million have left to join a firm with Focus Financial Partners, the network of independent financial advisors.

HighTower has added a Merrill Lynch team with nearly $300 million in assets to its new network aimed at breakaway independents.