Osaic

The question has turned into something of a paradox because of the related, but different, rise of RIAs and how that has affected independent brokerages.

The numbers don't reflect much change in the low representation of female wealth management professionals, but there are some signs of progress.

Each of the biggest firms in the channel grew substantially in 2024, but LPL's giant M&A deal to buy Commonwealth for $2.7 billion has further consolidated the ranks.

Firms like LPL, Cambridge, Osaic, Independent Financial, Commonwealth, Raymond James, Ameriprise and Cetera are racing to develop new tools.

Independent financial advisors are getting more tools at an accelerating rate in timing and capital investment. Here's how experts say they can adapt and overcome the fear of replacement.

As one advisor leaves Commonwealth Financial Network to join Osaic and others depart to start RIAs, industry experts say the departures are in line with expectations.

Patrick Funke & Associates' decision to join Commonwealth Financial Network suggests that despite its pending purchase by LPL, Commonwealth still appeals to advisors seeking a smaller setting.

Jamie Price of Osaic says attrition at his firm was below expectations during its recent internal consolidation of nine separate brokerages and that not having a self-clearing and self-custody business is an advantage these days.

The deal marks the purchase of one private equity-owned firm by a much larger one with majority private equity backing.

Matt Schlueter, executive vice president of operations and technology solutions, spoke to Financial Planning about how tech stack flexibility and integration keep such a large organization running.

John Hicks, the chief marketing officer of Ausdal Financial Partners, sees his firm's lack of private equity ownership as a big part of its appeal.

Affiliated Advisors aims to recruit, retain and advance wealth management professionals with resources aimed at three different career stages.

The wealth management business of the world's largest credit union and its 14 million members opted to choose its own destination after a giant M&A deal.

FINRA charges restitution but forgoes punitive fines for the three firms after crediting them for cooperating in its investigation.

The 10 largest transitions include deals by LPL and Osaic, hybrid RIAs that received private equity infusions and even a new public offering by a SPAC investor.

Dimple Shah, Osaic head of corporate strategy, said she and other executives expected some advisors to leave during the firm's "Journey to One" and that attrition has been mostly in line with expectations.

Rising financial advisor productivity came with much better pay at these independent brokerages.

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.

The trio of financial advisors cited the needs of ensemble advisory practices, succession resources and the option to convert to a hybrid RIA model someday.

Working in teams can boost productivity, make succession easier and allow advisors to move upmarket, new research suggests.