RIAs

BNY Mellon’s custodian is growing, even as it loses some major clients amid industry consolidation.

The ex-Morgan Stanley and Merrill Lynch advisors join the wealth manager, which has been aggressively recruiting in recent months.

The firm’s aggressive hiring streak continues with the onboarding of several wirehouse advisors.

The founding partners of the 300-advisor OSJ will remain in their current roles for three years under the same structure as before the deal.

Nearly three decades after launching their practice, the two founders say they’re looking forward to spending more time with clients.

The group leader, advisor Lars Olson, had been with the wirehouse since 1994.

The investment plays on a trend, “which is the blurring of the distinction between traditional insurance products and wealth management products.”

Whitnell & Co. changed hands in a deal with a regional bank that also struck a strategic partnership with the wealth manager.

Firms will up their tech investments and continue rewards and punishments designed to shape advisor behavior, says recruiter Mark Elzweig.

The combination of wealth management with supporting sectors attracted investors to two major deals.