Recruiting

The advisors had logged seven years at their former wirehouse.

Planner Lazetta Braxton explains what allies can do to reduce the fear and heartbreak that comes from working in a predominately white profession.

A former craft brewer and an ex-rugby star went indie with Gladstone Financial Resources Group.

One defecting advisor says she was lured by better technology and because at her new employer, “It’s about the people and not just the numbers.”

The firm’s diminished ranks are a sign of huge changes in the wirehouse world since the financial crisis ended.

“We didn’t need to physically travel to see that RBC was the ideal place to move our practice,” ex-UBS advisor says.

“I’d say independence is resonating with advisors now more than ever,” says recruiter Jodie Papike.

While CEO Jamie Price says tech capabilities rather than cost savings prompted the decision, he acknowledges the need to win over the reps who are now set to change firms.

Recruiting is likely to accelerate as the pandemic abates, writes Mark Elzweig.

The IBD network had been preparing for disruption, CEO Adam Antoniades says, and it has the financial flexibility it needs to boost financial advisors’ practices.

The firm has recruited at least 22 advisors this year who managed $3.3 billion in client assets.

In a still male-dominated industry, does the network help attract and keep more women at the firm? CEO Shirl Penney says yes and has the results to prove it.

In just two days, technology and remote staff helped ex-Wells Fargo FAs managing $281 million open client accounts at their new employer.

The lost assets represent a big hit to the firm’s operations in the small Missouri town where the advisor was based, ex-employer claims.

The privately held firm recruited more than 160 reps in the first quarter on the strength of its balance sheet, CEO Amy Webber says.

The No. 1 IBD added Securities America’s largest enterprise, whose founder says the firm’s new private equity-backed owner made him uncertain about the future.

“This virtual program will fill a major a hole left by internship cancellations,” says FPA President Martin Seay.

Advisors who switch firms during the pandemic have tough (virtual) conversations with clients in store.

An RIA platform launched by compliance professionals is growing by offering a smaller home for wirehouse and reverse breakaways, Advisory Services Network COO Cindy Halpern explains in an episode of Financial Planning’s Podcast.

CEO Dan Arnold says the pandemic “will create some structural change across the market and the industry.”