Wirehouses

The new information sheds light on how an industry leader is grappling with one of the profession’s most pressing issues.

The new additions oversaw more than $275 million at their former employers.

There are currently no plans to replace the longtime wirehouse leader, whose responsibilities will be divided among other executives.

Do RIAs still have a clear advantage when it comes to modern planning software?

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

The initiative is intended to help advisors manage increasingly large and complex teams.

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

Amid coronavirus-imposed lockdowns, the firm will retool and retrain approximately 3,000 young advisors.

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