Going independent

Recruiting is up in a year of unprecedented upheaval. What gives?

The latest roundup of news in the IBD and RIA channels comes in a time of economic turmoil and big transactions.

“I wanted to be able to walk in the door and only be able to answer to one constituency: my clients,” advisor Andy Ferguson says.

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

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.

The number of advisors registering with FINRA has fallen since 2016, as more planners elect a fee-only model.

Procyon Partners, which caters to UHNW clients and retirement plans, had a rocky separation from the same former firm.

The latest roundup of 32 IBD affiliation moves, M&A deals and expert studies reveals the mixed impact of the coronavirus.

Unexpected tailwinds from the global pandemic have made recruitment more efficient and have highlighted advisor-client bonds.

The list shows how firms of all sizes face a pivotal balancing act in seeking to recruit and retain advisors.

Northwestern Mutual’s practices raise difficult questions about the nature of retail advice just as wealth management faces greater scrutiny under new rules.

After 30 years in the wirehouse world, we found an unlooked-for opportunity for our practice amid devastation.

Billion-dollar teams are voting with their feet. Here’s where they are going.

After logging 27 years at the firm, the advisor is starting his “next 25-year chapter” as an independent.

LPL has reeled in about half of the reps changing their BDs so far this year, but the full RIA channel is also reaping big gains. Plus, other news in the indie space.

The 30-year industry vet launched a firm on the Dynasty platform citing better technology and “freedom” as reason for the move.

Everything from compliance to admin work is part of the job, and advisors have to “figure this out by themselves or find a third party,” a planner says.

A former craft brewer and an ex-rugby star went indie with Gladstone Financial Resources Group.

Advisors typically take most of their clients with them when they go independent, but not all of them do.

“I’d say independence is resonating with advisors now more than ever,” says recruiter Jodie Papike.