Independent BDs

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.

“The face of our industry is typically not me,” says the Vanguard and DFA veteran. “I thought about how many young people that I could inspire. So I raised my hand.”

“Overall there were not many positive data points to hang your hat on,” according to analysts. Advisor headcount, net interest income and assets were down.

In a sign of long term changes and pivotal questions for the industry, the difference between the amount of fees and commissions in the sector has nearly doubled.

Advisor Antoine Souma, who leads the group, had been with the wirehouse for just four years.

The rep defrauded clients with promises of a “lucrative investment” tied to the popstar that would also “help needy people,” according to regulators.

The survey's perennial champions scored higher than competitors like Wells Fargo, Ameriprise and LPL on every metric.

The leaders Bowersock Capital Partners were academia-bound before discovering wealth management was their true calling.

Some of the defecting advisors had been long-time advisors at their former wirehouse before making the move.

The largest percentage of women advisors for any single firm rose from the previous year, but the available numbers paint a stark picture.

Grappling with margin pressure, consolidation and fragmentation, the sector questions its identity.

Wealth management firms should define success by how well their operations perform under pressure, Kestra Financial COO Kris Chester says in an episode of Financial Planning’s podcast.

The basic yet revealing query shows why it’s not just about FINRA registration as a BD and 1099 contractor status for advisors.

For the first time, the ranks of the top 25 firms according to their annual business include single entries for IBD networks.

This interactive tool provides the full collection of data from Financial Planning's 35th annual study of the largest firms in the space.

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.

SagePoint Financial failed to adequately supervise reps who recommended that clients exchange the products before maturity, the regulator says.