Recruiting

The deal, expected to close in the second half of the year, will bring in $16 billion in client assets and 110 advisors.

Also this week, Raymond James recruits from Morgan Stanley, and Mercer Advisors and EP Wealth Advisors make big M&A deals.

The LPL CEO says Commonwealth advisors have almost nothing to lose and much to gain by joining a firm whose headcount is fast approaching 29,000. (Plus, experts say he'll be writing big checks.)

The Internal Revenue Service reportedly intends to reinstate thousands of probationary employees who were fired after two courts ordered it to do so.

Michael Bonevento and his team left Ameriprise in 2019 to join LPL Financial. He says too much time has elapsed for him to now be accused of misappropriating client information.

Experts say those survey results simply reflect successful and experienced teams, but the alphabet soup of certifications presents tough choices for current and aspiring professionals.

Also this week, Ameriprise CEO James Cracchiolo sees a 12% bump in compensation in 2024 and new LPL CEO Rich Steinmeier also sees a hefty pay bump.

Founder Steven Fox is asking for a flat $18,000 per year from planners to act as their RIA and platform provider to drive changes to fee models across the industry.

Not long after announcing a new set of services for high net worth clients, Edward Jones rewards CEO Penny Pennington with a $29 million compensation package.

Stifel pulls a $1.35 billion team from Raymond James, while LPL draws from Edward Jones and Wells Fargo, in advisor moves this week.

With more views and options for financial advisors to be independent, TritonPoint Partners is offering up its take on flexibility, cash and equity, and employment status.

Also this week, Captrust scoops up a $1.4 billion RIA, and Mercer Global adds a head of M&A.

The dispute shows Edward Jones has become emboldened in taking legal actions against advisors perceived to have inflicted harm on its business interests by leaving for another firm, one industry recruiter said.

In a warning alarm about the industry's staffing needs, McKinsey predicted there will soon be a massive shortage of advisors to meet client demand.

Every basis point of revenue based on client assets poses competitive implications. Here's how the upcoming change could affect financial advisors' businesses.

John Hicks, the chief marketing officer of Ausdal Financial Partners, sees his firm's lack of private equity ownership as a big part of its appeal.

The president of the firm's Private Client Group also discusses why advisor headcounts don't mean much anymore and how private equity owners of wealth management firms may have trouble realizing their value propositions.

Also this week, Cetera closes on its purchase of Concourse Financial Group, and Raymond James appoints a head of AI.

U.S. District Judge Susan Brnovich found Ameriprise failed to furnish evidence that data taken by a recently recruited advisory team was going to be used to solicit their clients to LPL.

Also this week, LPL pulls a big team from Raymond James, Merrill from Morgan Stanley and Dynasty from CIBC.