OSJs

The firm is maintaining control but dropping its FINRA registration as the sector’s rising expenses and lower margins fuel consolidation.

Bleakley Financial Group also picked up an ex-hedge fund portfolio manager while expanding its national footprint.

The No. 1 IBD has completed three of the sector’s 10 largest recruiting moves of the year.

Focusing on “investment in leadership and access to markets,” the IBD aims to support reps and clients of diverse backgrounds, its head recruiter says.

The latest roundup of 32 IBD affiliation moves, M&A deals and expert studies reveals the mixed impact of the coronavirus.

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

A former craft brewer and an ex-rugby star went indie with Gladstone Financial Resources Group.

Senior leaders at the No. 1 IBD meet daily about the pandemic as large enterprises set their own continuity plans into motion with an eye toward ensuring operations.

The largest enterprise under LPL’s biggest OSJ is getting even bigger, after adding its sixth advisor of the past 12 months.

Financial advisor Alex Chalekian started out his career with a mentor “who was not the nicest person.” Ever since, he has wanted to serve as a resource to fellow planners, he explains in an episode of Financial Planning’s Invest Podcast.

LPL’s continuing major poaches from rivals make up only one of the kinds of ways that firms are vying to attract and retain advisors.

Two other groups of MML Investors financial advisors have boarded what the expanded firm’s CEO calls a “big boat” under Coastal Wealth.

The recent moves display the stakes of the competitive recruiting fight, which has led to firms like AmeriFlex seeking to give advisors greater flexibility and resources.

If these black financial advisors meet the goal, it will defy the industry's stark racial disparities: early career growth at that level just “doesn't happen in our demographic,” one partner says.

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

Integrated Partners added a family office practice eyeing wirehouse breakaways as part of a dozen recruiting grabs for the No. 1 IBD and its OSJs.

The ensemble and enterprise pickups came after the No. 4 IBD added 70 advisors in the first nine months of the year.

Industry trends and succession planning prompted the enterprise to leave Advisor Group’s FSC Securities, according to the partner-brothers of the Nettuno Group.

Beyond eye-popping prices and assets changing hands, record M&A is altering the structure of the industry.

Billy Ricketts is most likely the elder stateswoman of wealth management — but she and her grandson believed it was time for something new.