Wirehouses

Aggressive transition packages, expiring contracts and deals adding up to a 400% payout for some advisors are helping wealth management firms recruit new teams.

Bank of America's Keith Glenfield says clients at the firm's Merrill Lynch wealth management unit are using alternatives to take a more deliberate approach to core allocations.

The Bank of America unit for ultrahigh-net-worth clients hired a 20-year industry veteran to oversee a key team of advisors.

To what extent do advisors push for the last piece when going independent?

A FINRA arbitration panel ruled in Merrill's favor and against the former wirehouse advisor, although one arbitrator dissented in awarding the firm about $200,000 in attorney's fees.

The team generated nearly $4 million in annual revenues while at Morgan Stanley and joined Raymond James' employee channel.

Advisors choosing independence do well as a pack.

Gregory Fleming, president of Morgan Stanley Wealth Management, says advice and advisor training will always have a role in the advice sector, which also must address its diversity problem.

John Lang and Michael Taylor of Morgan Stanley left their firm to launch a new ultrahigh-net-worth wealth management unit at BankPlus.

The regional broker-dealer lured away the wealth managers from Wells Fargo.

The group left Morgan Stanley and represents the biggest recruiting grab in the super regional's history.

Two advisors who oversaw $300 million in assets at UBS have left to join Merrill Lynch.

The wirehouses are increasingly relying on lending to strengthen client relationships, create stickiness for the firm and boost revenue.

Two veteran industry recruiters discuss the appeal of going independent.

Alejandro Ariel Torres allegedly cheated a customer out of nearly $60,000 in a start-up scheme that purportedly made the client a 50/50 partner. Torres was ordered to make the customer whole.

The revised proposal would require brokers to disclose to clients the compensation they receive when jumping to a new firm.

Richard Ketchum voices support for SEC to move on a uniform fiduciary standard for brokers and advisors, while warning of unintended consequences from DoL's proposal.

The wirehouse advisor moved to the independent channel at Wells Fargo.

One of the recruits oversaw nearly $210 million in AUM and had $1 million in annual production before making the move.

According to a survey of these elite leaders, wealth managers are leaving for more intimate work environments, and more will be making a move.