UBS

Advisers will create strategies and communicate the advice. Software will handle the execution and maintenance of the strategies.

The new recruits previously generated $1.5 million in annual revenue at UBS, according to the regional brokerage firm.

"I lose years of my life. They can settle, write a check and move on," says an adviser whose book of business dropped by $40 million after he alleges he was wrongfully terminated.

Collectively, this year’s mega movers managed more than $23 billion in client assets.

The team accused the firm of preventing them from properly conducting business with their clients, a charge that a FINRA arbitration panel rejected.

The new recruit generated $1 million in annual revenue.

The advisers are the first to obtain startup capital from the firm.

Robo advisers may have found the answer to a lingering problem for the financial industry: serving the mass-affluent in a profitable way.

A FINRA panel ordered the wirehouse to pay damages to two former clients who invested in Puerto Rican municipal bonds and closed-end funds.

The planners left J.P. Morgan, UBS and Merrill Lynch to go into business for themselves.