Recruiting

They all spent over a decade at their former firm.

“I wanted to be able to walk in the door and only be able to answer to one constituency: my clients,” advisor Andy Ferguson says.

The advisor is asking a judge to reconsider the order, saying he wasn’t given a chance to defend himself against accusations of violating a non-solicitation agreement.

One of the largest professional designation and training schools launched a program to award free tuition to at least 25 students in the next year.

The hires hail from Morgan Stanley and Wells Fargo.

The new hires were previously at Merrill Lynch, UBS, and BB&T.

With higher compensation offers and a track record of independence, the No. 1 IBD is “challenging the status quo,” its head recruiter says.

Here’s what leaders around the world say must be done.

The firm’s growth plans come as the industry experiences a new wave of consolidation among custodians and fintechs.

The No. 1 IBD revealed new details of its W-2 affiliation after it followed rivals into the employee channel with an acquisition it made last year.

“We basically had clients demanding that we find a new home,” after Wells Fargo failed to secure PPP loans for them, an advisor says.

The St. Louis-based firm claims its rival “instructs incoming recruits to compile client information from their former firm” as a matter of course.

The new recruits cited their new employer’s technology platform as motivation for making the career change.

The new additions help offset some recent departures at the wirehouse.

The independent broker-dealers big enough to serve the most financial advisors enjoy advantages but face distinct challenges.

The wirehouse added a pair of veteran advisors from its rival after picking up several new hires in recent weeks.

The Minnesota-based Falldin-Mattson Group was previously at Morgan Stanley.

It will be the largest bank channel team at the IBD, with its former clearing house Pershing taking a hit.

An all-woman team joined the firm in Miami while a branch manager is installed in a new Northern California office.

Procyon Partners, which caters to UHNW clients and retirement plans, had a rocky separation from the same former firm.