Recruiting

Michael Bernier oversaw roughly $165 million in client assets at Canter Strategic Wealth Management, a firm with $300 million under management. Then he left to join LPL.

Cetera also names the next president of its wealth management division and Corient scoops up a $7.9 billion RIA in Maine.

Independent firms are going beyond traditional wirehouse compensation packages to promote collective partnership and reward incoming teams.

The case stems from Raymond James' recruitment of the $2.8 billion Wise Advisor Group from Baird, which also landed a penalty for a broker protocol violation.

The rival firms will pay for a forensic consultant to preserve evidence of transferred confidential data while they await FINRA arbitration.

Amplified Planning is expanding beyond the Externship into a new four-month course and a monthly subscription service for outsourced professional development.

Homrich Berg also acquires a $6.4 billion RIA and Hightower takes a stake in an $800 million advisory practice.

Scott Burnett and Peter Kelson, formerly of Zions Direct, plan to work mainly with public entities, corporations, foundations and endowments.

The 10 largest transitions include deals by LPL and Osaic, hybrid RIAs that received private equity infusions and even a new public offering by a SPAC investor.

A 20-plus-year veteran replaces Manish Dave, who left the post in October.

Recruiting moves, M&A deals, influxes of capital, internal rollups and business pivots are fueling the industry's race to scale.

Raymond James and Merrill also announce recruiting deals, while LPL hires a head of cybersecurity from PayPal.

Even though Citizens lost its bid to acquire First Republic in 2023, it has recruited frequently from the now-defunct regional bank.

The recruits, formerly managing $885 million at their previous firms, are expected to push Concurrent's asset total to $9.7 billion.

The largest fee-only RIAs expanded rapidly in the past year, but a new No. 1 led a group including Savant, Moneta, EP Wealth, Modera and The Mather Group.

Fifth Third Bank also draws a big team from Truist, and Morgan Stanley from Merrill.

Business goals cannot always put clients' best interests first. Here's why even the executives leading fast-expanding advisory firms say the critics have a point.

Jed Finn says the firm's wealth unit could easily meet its operating margin goals if it simply stopped spending money to support advisors. But it's not about to do that.

More planners are dropping their FINRA registration but keeping some ties to independent wealth management firms once thought to be in a different channel.

Morgan Stanley and Edward Jones meanwhile are giving their advisors new stomping ground in midtown Manhattan offices.