LPL Financial

LPL Financial and indie rivals like Raymond James, Wells Fargo FiNet and Kestra Financial completed at least 17 recruiting grabs of $800 million or more this year.

Waddell & Reed had been working in recent years to transform its “proprietary broker-dealer into a fully competitive independent wealth manager.”

Homogeneous industries and male executives are the primary target clients of the new consultancy, Kathleen Zemaitis says.

As part of a two-step deal involving Australian investment bank Macquarie Group, LPL will pick up 900 advisors and $63 billion in assets.

Planners and experts dive into wirehouse pay, charging clients at a higher rate, emerging business models and other key issues.

James Booth’s seven-year fraud bilked investors out of nearly $5 million.

The No. 1 IBD is responsible for nearly half of the dozen mega-moves in its sector this year.

Necessary new approaches include better cultural understanding, more flexibility for new entrants and more outreach, advisors and executives say.

In a surprise announcement, Private Advisor Group tapped Moore as CEO nearly two years after he left Cetera for undisclosed medical reasons.

It’s one of the largest recruiting moves of the year in the independent broker-dealer sector.