Independent BDs

The Avantax Wealth Management parent views HK Financial as another way of working with CPAs and tax professionals branching into the field.

Rivals will be waiting to seize on any changes that may irk some 4,400 representatives poised to operate under a new parent IBD network.

The record level of transactions — as well as long-term industry shifts — often prompt advisors and other wealth management professionals to assess their options.

Among the new recruits is an 11-person team.

The additions came amid a revamping of the firm’s independent advisor compensation.

With the industry closely watching the complex integration, the selling network's parent divulged how it struck the $1.3-billion agreement to form a giant IBD.

A former rep has drawn at least 30 claims after pleading guilty to fraud, while clients of another ex-LPL advisor are seeking damages five years after his initial arrest.

Some advisors may see their pay rise in 2020.

Mergers and acquisitions involving wealth advisors and brokers reached a seven-year annual high in November, according to data compiled by Bloomberg.

The firm's top recruiter explained its approach to helping advisors keep up with a rapidly changing profession.