Merrill Lynch

The growing independent firm has recruited five ex-wirehouse planners since the start of the year.

Andy Sieg, head of the firm, had previously indicated that he was open to rethinking aspects of the firm's efforts to comply with the regulation.

The 20-year veteran planner cites Raymond James' greater flexibility and marketing support.

Patricia Bennett says she visited the regional's firm home office three times before deciding to make the move.

The firm also recruited an international wealth management team that oversaw $576 million, according to our latest roundup of recent hires and moves.

Keith Rowling ranked No. 2 on the 2016 list of the industry's top young producers.

The wirehouse has already paid $415 million in fines and disgorged profits in a settlement.

The ex-wirehouse advisers are partnering with Stanley Hochhauser, an industry veteran of more than 50 years.

The two advisers went indie with Focus Financial, one of the country's biggest RIA aggregators.

Andy Sieg says the firm's digital wealth and mobile app investments are "a key strategic story."