Broker Protocol

Advisors may be upset due to the high-handed attitudes of the larger firms, but pulling down six zeroes a year can offset a lot of irritation, says On Wall Street’s annual recruiters roundtable.

"If our profession truly cares about the well-being of our clients to the extent that the profession professes, then we need to swing this pendulum in the other direction," Elwyn says.

The firm pulled in 11 new advisors in the first quarter of 2018, building on the 65 brokers hired last year.

The advisor, a former employee, has been soliciting more than two dozen clients at the bank, JPMorgan says.

Need a gut check on your career? Read what top recruiters have to say about the big and small firms in the industry.

Dean Hoover is the latest advisor to join the Raymond James-affiliated independent firm.

The move comes more than three months after Morgan Stanley and UBS quit the agreement.

It's a sign the firm is still selectively hiring despite leaving the Broker Protocol last year.

"We've been waiting for the finicky sellers and now they're here," says Echelon Partners CEO Dan Seivert.

After both firms exited the Broker Protocol, their attempts to browbeat advisors have largely failed, one recruiter argues.