Wirehouses

One recruiter argues the firm is losing talent because it will eventually exit the Broker Protocol.

At Merrill "it felt like we shifted away a little bit in recent years from the core focus of wealth management," advisor Matthew Spradlin explains.

Strengthened legal language recently added to bonus agreements will be removed, according to people familiar with the matter.

The Raymond James affiliated firm has been aggressively recruiting from wirehouses in recent months.

The brokers previously worked at Wells Fargo, which has suffered from attrition to smaller rivals over the past year.

The move is the latest in trend of advisors leaving wirehouses for smaller firms.

Ameriprise is looking to reverse a decline in its headcount.

The San Francisco-based firm is the third major U.S. bank in recent weeks to change its policies on pay transparency.

Reforms obtained by settlements of past class-action suits have "utterly failed," the new lawsuit contends.

This is the second time in recent weeks that the firm has poached talent from the wirehouse.