Wirehouses

David Safarian is the latest wirehouse advisor to join the regional broker-dealer.

A segmented market is ready to embrace scale, says Raymond James president Bill Van Law.

The new hires join the wirehouse from rivals Morgan Stanley and Merrill Lynch.

The regional BD is on a recruiting roll, having poached two of the wirehouse’s teams this week.

27 firms have signed on to the standard, but state regulators and industry groups are pushing for more.

The move is the fourth major recruiting announcement for the firm this month.

"This is a window for these regional firms to really explode," says Rob Blevins, a recruiter in Dublin, Ohio.

The U.S. Private Equity Access Fund Platform includes 33 offerings and more than 7,000 domestic and international investors.

The impact of a possible stock market decline, benefits of firm size and the breakaway phenomenon were debated at the Deals & Deal Makers conference.

The advisors joined existing practices within the bank's independent broker-dealer arm.

A different regulatory landscape is encouraging brokers to reconsider their options.

Thomas Fickinger managed over 1,350 advisors generating $1.5 billion in revenue in 2016.

The advisors join the regional BD’s offices in Chicago and Nashville, Tennessee.

“We’ve been very focused on opening every drawer and turning over every rock in the company,” CEO Tim Sloan said.

The firm, which has faced racial discrimination allegations, is trying an alternative approach suggested by a professor at Harvard.

Regional brokerages and firms that assist breakaway advisors have been picking off top talent at the wirehouses.

The regional broker-dealer added four new advisors to the 32 recruits picked up this year alone.

The regional firm has been a recruiting tear, picking up a number of ex-wirehouse teams.

In the last month, RBC has hired six teams from wirehouses and other regional firms.

One advisor says the fiduciary rule prompted the latest wirehouse exit to an RIA.