Recruiting

Also this week, both Arax Investment Partners and Aspen Standard Wealth add RIAs with $1B in AUM.

AFE Private Wealth's upcoming move to a larger office will launch what its partners say is a separate but symbiotic pairing with an exclusive gathering place.

Also this week, the tech-driven RIA Farther boosts its AUM total to over $13 billion with a recruiting blitz, Mercer adds an RIA with more than $1 billion in assets and Cresset fills out its C-suite.

The Swiss financial giant also saw its assets flow out of its Americas business in the second quarter as advisors left and clients set aside billions for taxes.

After a difficult start to the year, Stifel reported a strong second quarter, with record AUM and net revenue figures for its wealth management division.

Emily Dreas, who became a senior executive for the firm's New York market earlier this year, has been busy filling out the firm's leadership ranks with hires from industry rivals.

As advisors continue to exit UBS for rival firms Merrill, Ameriprise and Raymond James, EP Wealth completed a major acquisition.

The Fed's rate cuts last year also took a toll on the company's results for the second quarter, when there were sharp drops in the flow of incoming client holdings.

Departures from the Swiss banking giant show no signs of letting up in a week that also saw LPL Financial and Elevation Pointe announce big deals.

The popular industry recruiting and retention barometer provided another window into the challenges facing LPL Financial with its latest major acquisition.

Negative net new assets came back to the giant clearing and custody firm in the second quarter, although they weren't as large as in the same period of 2024.

Also this week, LPL Financial and Janney Montgomery Scott log recruiting deals while RIA aggregators like Sanctuary Wealth, Beacon Pointe and Carson Group go on an acquisition tear.

As one advisor leaves Commonwealth Financial Network to join Osaic and others depart to start RIAs, industry experts say the departures are in line with expectations.

Schwab, Fidelity and Pershing are facing growing competition, as the industry strives to do business with financial advisors in as many ways as possible.

Financial advisors often place their own health behind that of others, but the firms who help them address it can get an edge in the fight for talent, experts say.

As Raymond James, Wells Fargo and RBC reported big recruiting deals this week, FINRA said it was going to pay back to its members a large chunk of the fees they paid last year.

The momentum is clearly accelerating behind registered investment advisory firms, but every individual team's choice requires careful consideration.

A FINRA arbitration panel's decision marked a rare rebuke for a large wealth manager seeking to reclaim money it provided an advisor recruited from a rival.

Osaic and UBS have both been on the losing end of some recruiting deals in recent months, while this week Cambridge, Rockefeller and RBC were on the winning end.

As an aging cohort of financial advisors prepares for retirement, firms are scrambling for next-gen talent. Yet a new study found that few have developed a comprehensive succession plan.