Wirehouse advisors

Also this week, both Arax Investment Partners and Aspen Standard Wealth add RIAs with $1B in AUM.

Valuation experts caution that advisors selling their businesses put too much weight on EBITDA multiples and overlook many factors that can reduce the value of a deal.

Also this week, the tech-driven RIA Farther boosts its AUM total to over $13 billion with a recruiting blitz, Mercer adds an RIA with more than $1 billion in assets and Cresset fills out its C-suite.

The Swiss financial giant also saw its assets flow out of its Americas business in the second quarter as advisors left and clients set aside billions for taxes.

As advisors continue to exit UBS for rival firms Merrill, Ameriprise and Raymond James, EP Wealth completed a major acquisition.

Departures from the Swiss banking giant show no signs of letting up in a week that also saw LPL Financial and Elevation Pointe announce big deals.

As Raymond James, Wells Fargo and RBC reported big recruiting deals this week, FINRA said it was going to pay back to its members a large chunk of the fees they paid last year.

Osaic and UBS have both been on the losing end of some recruiting deals in recent months, while this week Cambridge, Rockefeller and RBC were on the winning end.

Roughly 200 advisors at the firm are being named "founder specialists" for their track record helping entrepreneurs do everything from set up employee-benefit plans to take their firms public.

Also this week, Raymond James pulls from Ameriprise, UBS from Morgan Stanley and LPL from RBC.