Independent BDs

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.

The insurer-owned IBD identifies leaders in target markets as it offers independence “with a hug,” according to its head of recruiting.

Hailing from Merrill Lynch, Edward Jones and Waddell & Reed, the advisors join as both employees and independents

The newly independent advisor oversaw $92 million in client assets.

More than 300 reps have switched BDs so far this year, with LPL and Cambridge Investment Research completing the two largest grabs.

LPL advisor Kashif Ahmed tweeted his condition from the emergency room then focused on recovering, knowing his firm could run without him.

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

While CEO Jamie Price says tech capabilities rather than cost savings prompted the decision, he acknowledges the need to win over the reps who are now set to change firms.