Economy

The firm will also pay a penalty and offer to buy back variable annuities the former broker sold to 21 other investors.

The hires hail from Morgan Stanley and Wells Fargo.

The new hires were previously at Merrill Lynch, UBS, and BB&T.

If clients “looked just three months ago, these numbers would be glaringly different,” an expert says.

With higher compensation offers and a track record of independence, the No. 1 IBD is “challenging the status quo,” its head recruiter says.

Here’s what leaders around the world say must be done.

The initiative is intended to help advisors manage increasingly large and complex teams.

The firm’s growth plans come as the industry experiences a new wave of consolidation among custodians and fintechs.

The firm is still determining which other pieces of technology it will retain after acquiring its rival.

The No. 1 IBD revealed new details of its W-2 affiliation after it followed rivals into the employee channel with an acquisition it made last year.