J.P. Morgan Securities

The boutique wealth manager has been aggressively courting top brokers.

“The industry has not done any favors to young advisors,” says independent advisor Douglas Boneparth.

Six of the top 10 advisor recruits — managing roughly $13.2 billion in client assets — have walked out of the wirehouse so far this year.

These mega brokers managed $18 billion in assets at their previous firms.

Collusion and corruption allegedly prevented Wells Fargo whistleblowers, and a former JPMorgan advisor, from obtaining justice.

The firm has recruited 71 advisors so this year and opened branches in four states, according to a spokeswoman.

While Raymond James and Stifel are on hiring sprees, Wells Fargo is still losing talent.

A former Goldman Sachs broker also joined the boutique firm's office.

David Reiser spent 10 years at the wirehouse where he worked with ultrawealthy clients and families.

J.P. Morgan hired 160 brokers last fiscal year, and it’s not slowing down in 2018.