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.