OSJs

With the exact timeline and eventual destination unclear, the private equity-backed firm was revealed as one of two major OSJs departing from LPL.

The author learned fast that running an OSJ has little overlap with operating a fully independent, multicustodial firm.

The No. 1 IBD added to its record headcount with the third billion-dollar move it unveiled in a two-week span.

The 10-person practice, rebranded as Puzzle Wealth Solutions, is led by CEO John Klaas and COO David Millington.

Its parent seeks to support more holistic planning by combining it with two other subsidiaries.

Good Life Companies fosters competition among wealth managers for its own health and runs food stores and a gym.

Bill and Chris Hamm admit it’s been something of a rocky start, but they say IFP is saving advisors and clients money compared to a typical wealth manager.

The Dallas-based hybrid RIA has more than 100 reps, and, if they follow the chief’s exit, it would be the the No. 1 IBD’s largest loss since 2019.

Concurrent is catering to breakaway teams assessing their options after back-office frustrations during the coronavirus, co-founder Mike Hlavek says.

The enterprise could reach more than 50 registered representatives in the next couple of months, depending on how many of them leave MassMutual.

Financial advisor Christian D’Urso spends his mornings hiking, kayaking or biking, and his afternoons running a $110 million advisory business on the water.

The agreement will expand the companies’ recruiting efforts in the bank and wirehouse channels.

The founding partners of the 300-advisor OSJ will remain in their current roles for three years under the same structure as before the deal.

LPL Financial and indie rivals like Raymond James, Wells Fargo FiNet and Kestra Financial completed at least 17 recruiting grabs of $800 million or more this year.

The OSJ scooped up teams from Edward Jones, Wells Fargo Advisors and Wedbush Securities.

The No. 1 IBD is responsible for nearly half of the dozen mega-moves in its sector this year.

In a surprise announcement, Private Advisor Group tapped Moore as CEO nearly two years after he left Cetera for undisclosed medical reasons.

It’s one of the largest recruiting moves of the year in the independent broker-dealer sector.

The 40-advisor OSJ brings more than double the assets of any other new group unveiled across the IBD network in 2020.

The No. 1 IBD is keeping up the recruiting momentum that’s sustaining record headcounts and billion-dollar moves.