The new hire signed on to the regional broker-dealer during a recent wirehouse recruiting binge.

The firm also scooped up a market manager from Stifel.

The new recruit generated more than $1 million in annual revenues, according the regional firm.

The recruit generated $2 million in annual production, according to Merrill.

The wirehouse's new hires oversaw $466 million in client assets, according to a spokesman.

The new recruits joined the firm's independent and employee channels.

The adviser reversed course after Merrill Lynch unveiled plans to phase out commission-based retirement accounts as part of its plan to comply with the Department of Labor's fiduciary rule.

The firm's latest hire had spent 17 years at Raymond James and its predecessor firm, Morgan Keegan.

Recruits from Morgan Stanley and RBC joined the independent firm affiliated with Raymond James.

The new recruit joins the regional BD from Hilliard Lyons.

Growing RIA now has over $3 billion in assets as footprint expands.

One of the bank's new recruits comes from the wirehouse's elite Private Banking & Investment Group, which serves ultrawealthy clients.

One of the new recruits says his group was attracted to the firm's platform and culture.

The spat between the firms started when the regional BD recruited a group of advisers who collectively oversaw about $1.1 billion in client assets.

The planner, joining from Robertson Stephens, also has worked for UBS and Merrill Lynch.

The new recruit, who started with the wirehouse's predecessor firm Smith Barney, has been in the industry since the late 1990s.

Succession planning is thwarted by most bankers' high-handed attitude that they own the client relationship. Realities on the ground are more nuanced.

The bank implemented the program to compensate advisers as they transition their books to other advisers, while ensuring that their clients are left in good hands.

Advisers at a bank may have to shift to another channel for a few years before retirement, says contributor Rick Rummage.

When advisers quit, banks lose revenue even when they hire replacements. The present value of that lost revenue averaged $2 million, according to a study by Kehrer Bielan.