OSJs

The No. 1 IBD’s advisory AUM flows show results from the company’s efforts to reward advisors for choosing its custody instead of outside firms.

Independent Advisor Alliance and Private Advisor Group — two of the firm’s largest hybrid RIAs — say they’ve added billions in clients assets from IFP.

The advisors retained from shuttering Broker Dealer Financial Services will add more than 80 advisors now able to tap into the buying firm’s offerings.

The 7,700-advisor IBD network hasn’t been as active in recruiting as its rival lately — but it’s holding on to a portion of the major enterprise.

The No. 1 IBD unveiled positive recruiting numbers for the third quarter, alongside an 84% jump in profits.

While the No. 1 IBD has retained a significant portion of the hybrid RIA’s advisors, its founder says the firm has major outside recruiting opportunities.

The practice is at least the second this year to jump from the Advisor Group firm to its similarly sized rival.

The deal with the family-run independent insurance firm followed record sales in fixed-index annuities.

Stratos Wealth and other OSJs are offering more types of affiliation and equity deals in a bid to stem a competitive threat.

The OSJ spans dozens of advisors, and it marks at least the ninth major exit following a change in policies at the No. 1 IBD.