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Executives provided advisors an update. The company has separately said it cut more than 200 retail branches at the end of last month.

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

CEO Jamie Price says the change will reduce potential conflicts of interest related to transaction fees and come with lower prices in wrap accounts.

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

If approved for an IPO, the blank check company will face stiff competition among the growing ranks of RIA acquirers.

The move represents the third largest out of the IBD channel in 2020, according to company recruiting announcements tracked by Financial Planning.

New ownership of the popular platform could open the door for new tech leadership, but don’t count Schwab out yet.

Genstar Capital Managing Partner Tony Salewski spoke openly with advisors about the firm’s investment strategy for the IBD network.

The regulator would generate an additional $225 million per year from the fee increases.

The No. 1 IBD’s 2,500-advisor bank channel will add 285 more reps when two massive investment programs affiliate next year.