Independent BDs

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.

The IBD network had been preparing for disruption, CEO Adam Antoniades says, and it has the financial flexibility it needs to boost financial advisors’ practices.

Financial advisors’ choices about capital infusions into their practices show “how this industry needs to evolve and mature,” Merchant Credit Partners Managing Partner Rick D'Amico says in an episode of Financial Planning’s Invest Podcast.

The privately held firm recruited more than 160 reps in the first quarter on the strength of its balance sheet, CEO Amy Webber says.

The No. 1 IBD added Securities America’s largest enterprise, whose founder says the firm’s new private equity-backed owner made him uncertain about the future.

Financial advisors, broker-dealers, custodians and other firms are trying to do their part amid a public health and economic crisis.

CEO Dan Arnold says the pandemic “will create some structural change across the market and the industry.”

Phased succession plans that stagger the amount of equity changing hands can help usher in the next generation of financial advisors, PPC Loan Managing Partner Dustin Mangone says in an episode of Financial Planning’s Invest Podcast.

Ongoing health risks will hinder a return to normalcy for the firm and its rivals.

The firm is making another targeted purchase while rivals seek to gain ground with their own deals that reshape the sector.

The firm recruited only slightly fewer advisors than the year-ago period in very difficult economic conditions.

The clearing and custody giant isn’t saying which company paid it a notable breakage fee this quarter.

A lull due to the coronavirus appears to be over, according to the No. 1 IBD’s top recruiter. The firm is still competing against a slew of rivals for ex-wirehouse reps.

Financial advisors choose technology the way cyclists pick out their rides, Riskalyze Managing Director for Enterprise Services Dana Rhodes explains in a Financial Planning podcast.