Recruiting

Private Advisor Group received capital from Merchant, while Integrated Partners has recruited nearly a dozen practices this year.

Morgan Stanley made sweeping changes to its employee benefits including increasing parental leave and allowing some employees to buy its stock at a 10% discount amid intense competition for talent.

The wirehouse aims to retain more advisors with changes it says will reduce complexity and boost incentives for growth.

The wirehouse’s compensation system will see small changes as brokerages confront their recruiting and retention challenges.

The number of reps is tumbling from the wealth manager’s previous position atop the industry.

Facing a growing number of rivals in the independent channel, the wirehouse is boosting the compensation rate for more than 3,000 reps.

Morgan Stanley is introducing an initiative to draw more young people from diverse backgrounds to the finance industry, furthering its outreach efforts a week after appointing to the bank’s board its first woman of color.

The midsize firm’s headcount fell for the fourth straight quarter, even as nearly every other key metric expanded from the year-ago period.

As independent wealth managers pitch potential recruits on their scale, the IBD network built tools and hired “growth officers” to work with practices.

Hundreds more financial advisors have flocked to the wealth manager this year, driving new highs in headcount, client assets and several other metrics.

CEO Ron Kruszewski predicted its independent arm will grow the way the employee brokerage has since the firm hired its first financial advisor in 1997.

The wealth manager’s financial advisor headcount is rising, along with the productivity of their practices.

One firm made three small changes that could appeal to brokers, while the other company’s overhaul will make it more closely resemble its competitors’ setups.

Seven former Wells Fargo Private Bank planners left to join a firm seeking to expand where they say large banks and brokerages have pulled back.

A quartet of advisors with $400 million in assets chose the independent firm out of many suitors.

The higher number of brokers in two of the megabank’s largest business segments reeled in higher client assets based on equity values and inflows.

Teams managing $7.5 billion in client assets flocked to Financial Advocates through referrals from other reps who had previously moved to the firm.

The PE-backed consolidators picked up firms with a combined $6.7 billion in client assets as high valuations and expansion plans bring sellers to the table.

An ex-executive with a firm acquired by the network three years earlier will lead FSC Securities as it seeks to grow in a competitive industry.

Sean Kaligh dropped Wells Fargo for LPL, as more planners leave wirehouses during the pandemic.