Regional BDs

Our annual analysis of starting payouts for wirehouse, regional and national brokerage firms.

The firm lost 94 existing advisors, but recruited 79 new ones in the first quarter. Here are six of its new additions.

The firm’s headcount declined slightly in the quarter, but advisors’ productivity remains strong and growing.

Our annual analysis of starting payouts for wirehouse, regional and national brokerage firms.

“There aren’t many combination opportunities left, so about six or seven months ago we recommitted ourselves to recruiting and got more aggressive in recruiting,” says Michael Purpura, president of D.A. Davidson Wealth Management.

The latest moves bolster the firm’s presence in the Northeast.

The wirehouse recently reported advisor headcount shrank by 258 advisors year-over-year.

Dennis Zank will continue to be affiliated with Raymond James as a financial advisor.

The firm also opened a new office in Lancaster, Pennsylvania.

The wirehouse exodus continues, as a team of Wells Fargo advisors jumps ship for the independent firm.

The “breadth and depth of relevant resources” from the home office serve as a critical differentiator, Cerulli says.

"If our profession truly cares about the well-being of our clients to the extent that the profession professes, then we need to swing this pendulum in the other direction," Elwyn says.

Tom Thives, a 34-year industry veteran, will head up the firm’s offices in New Jersey.

The firm pulled in 11 new advisors in the first quarter of 2018, building on the 65 brokers hired last year.

Advisors should conduct a comprehensive suitability analysis before initiating 1035 exchanges.

Like other broker-dealers, the firm is far from achieving a ratio of 50/50 men-and-women planners.

The new hires say they were drawn to the firm’s investment platform, product offerings and investment diversification.

The newly independent advisors added a new team and are looking to bring on more practices.

Planners are seeking the independence and support that they say they aren’t getting at wirehouses.

IBDs and regional firms are making the biggest changes, but RIAs have room for growth as well.