Independent BDs

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

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.

“We basically had clients demanding that we find a new home,” after Wells Fargo failed to secure PPP loans for them, an advisor says.

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

The independent broker-dealers big enough to serve the most financial advisors enjoy advantages but face distinct challenges.

It will be the largest bank channel team at the IBD, with its former clearing house Pershing taking a hit.

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.