Recruiting

The UHNW unit signed advisors managing a combined $3.7 billion this year and committed to maintaining a physical presence in its New York headquarters.

LPL Financial and indie rivals like Raymond James, Wells Fargo FiNet and Kestra Financial completed at least 17 recruiting grabs of $800 million or more this year.

It’s the second-biggest hire of the year for the wirehouse.

The firm’s four new additions came from two wirehouses.

It’s one of the largest teams to quit a wirehouse this year.

The OSJ scooped up teams from Edward Jones, Wells Fargo Advisors and Wedbush Securities.

The firm has added 42 advisors this year with a combined $3.8 billion in AUM.

The Buffalo, New York location is the independent firm’s 12th nationwide.

Brian Truscott oversaw more than $330 million in client assets.

The firm also added a new unit to accommodate its dramatic advisor growth — from one to 140 in seven years.

The new hires generated approximately $5 million in production before making the move.

Foresight is key — today's “overqualified” hire could be tomorrow's "capable choice for a promotion."

The Boston-based boutique oversees the assets of roughly 140 full- service clients and 800 individual households.

In two recent moves, the firm promoted one of its own to regional director and lured another back from AllianceBernstein.

The advisors know RBC’s Pittsburgh complex director from earlier in their careers, when all three men worked at Smith Barney.

The No. 1 IBD is responsible for nearly half of the dozen mega-moves in its sector this year.

As some firms closed their doors, the regional BD saw a selling point for new recruits and existing FAs in a different approach.

“Financial advisors typically don’t speak athletes’ language, so athletes and entertainers gravitate toward those people who do,” said former Chicago Bears defensive end Adewale Ogunleye.

The hurdles faced by Black professionals who break into the financial services belie the notion that their small numbers at the industry’s top ranks are a pipeline problem.

Disclosing such information is rare in wealth management, but long overdue, says Andy Sieg.