Wirehouse advisors

Also, Cresset extends its reach in Texas, Janney recruits from Wells Fargo and Ameriprise, Merrill draws from Wells Fargo and Mercer acquires a $1B firm.

JPMorgan again shows it makes a sharp distinction between advisors who build their own books of business and those who amass clientele from bank referrals.

UBS chief data and analytics officer Joe Cordeira says AI won't replace advisors. But it can help them by providing little nudges to do everything from rebalancing a portfolio to wishing a client happy birthday.

Also, Raymond James lands a $420M father-son team from Edward Jones, Cetera recruits a $350M LPL duo, and Cambridge acquires a $1B AUM dual registrant.

As CEO Sergio Ermotti says it's almost impossible for the firm's U.S. wealth management business to match rivals' profit margins, UBS seeks to help new and existing advisors sharpen their expertise.

Wells Fargo recruits a $543M JPMorgan team, Raymond James adds a $360M family practice and Beacon Pointe acquires a women-led RIA.

The Munster Freeman Group will add to Wells Fargo's offerings for wealthy and ultrawealthy clients with offices in the Los Angeles area, Arizona and Colorado.

Dueling announcements Friday show that UBS is still struggling with advisor retention even as it brings in a new executive to oversee its recruiting efforts.

RBC pulls $1.2B and $705M teams from rivals, Merrill gets a $420M duo, and several large M&A deals close.

The Couch Group's return to Morgan Stanley is the latest evidence that UBS hasn't been able to stop the recent wave of advisor departures.

Also, an Ex-Truist/Balentine duo start an RIA, Raymond James grabs a team from Wells Fargo and Janney names a new head of advisor recruiting.

Merrill wealth co-head Eric Schimpf says the firm does about as good a job as its rivals in drawing in net new assets. But given Merrill's relationship with Bank of America, "We can do better."

Scott Posner, who's in charge of advisor and institutional recruitment as LPL's business development head, on why LPL leads in advisor "capture" at a time when fewer teams are switching firms.

LPL CEO Rich Steinmeier said the firm is nearing its goals for retaining Commonwealth Financial Network's assets and advisors, freeing up internal recruiters to bring in advisors from other firms.

Wells Fargo pulls $722M in AUM from Merrill while Osaic adds a $540M team from Primerica (but gets sued); Stifel sells independent unit, and First Clearing names new head.

Unpopular compensation changes at UBS continue to drive advisor attrition, costing the firm billions in client assets. But despite the outflows, executives say the new policy is helping improve UBS' profits.

The Swiss wealth management giant says many of its U.S. clients now "largely rely on other banks for their everyday banking needs."

Wells Fargo also pulls from Merrill and Raymond James again from Commonwealth, while AlphaCore buys up a big RIA and the FPA gets a new CEO.

Industry compliance experts say there are few more complicated decisions than knowing when to leave a firm and start your own advisory practice. The government shutdown is making it worse.

Dynasty Financial Partners' investment bank joins Diamond Consultants to help departing teams vet transition options, whether that's joining another wirehouse, selling to an RIA aggregator or starting their own business.