Going independent

Ross Gerber says he left the firm to avoid its strict oversight of his press interviews and social media.

Exodus to RIAs continues, but Schwab cites red flags.

The two advisors generated about $1.5 million in annual revenue, according to the No. 3 IBD.

Rival firms like Ameriprise could stand to gain as advisors adapt to new recruiting realities.

The move comes at a bad time for the firm, which amid scandals and mounting regulatory scrutiny has lost more than 300 advisors in a year.

Chris Randazzo rejoins the firm’s former president, Gregory Fleming, at Rockefeller Capital.

The No. 13 IBD’s hybrid RIA subsidiary also unveiled the results of its record recruiting push.

At Merrill "it felt like we shifted away a little bit in recent years from the core focus of wealth management," advisor Matthew Spradlin explains.

The Raymond James affiliated firm has been aggressively recruiting from wirehouses in recent months.

Although it represents a big industry shift, it's not the end of the world, says former UBS advisor turned RIA owner Greg Hersch.