LPL Financial

In a recurring pattern, Ameriprise again accuses its industry rival of encouraging a recently recruited advisor to "harvest" and bring over confidential client information.

Industry experts and analysts take comfort in the firm's choice of Rich Steinmeier as interim CEO and say they see little reason to expect serious disruption.

The former Wells employee says he was basically forced to quit after a series of fumbles by the firm cost him his book of business and brought his pay down to "minimum wage level."

LPL directors terminated CEO Dan Arnold's employment after an outside law firm found comments he had made to employees had violated the firm's code of conduct.

The giants of the channel grabbed most of the spots in the rankings, but some of their smaller or midsize rivals are also expanding quickly.

LPL presses forward with deals that have made it one of the fastest-growing firms in recent years.

Analysts say that firms that are forced to start paying clients higher rates may have to raise their advisory fees and cut costs to make up for the revenue losses.

One of the most successful recruiting firms in recent years, LPL again finds happy hunting grounds at its rival giant in the independent brokerage channel.

Industry experts say they can't recall another time when an advisory firm has used a lawsuit for a wholesale indictment of a rival's recruiting practices.

Slight shifts in the makeup of the biggest firms in the channel reflect a more complicated picture than sheer dominance by the giants at the top.