Wirehouse advisors

Plus, Cetera adds a $1.9B tax-focused firm, Choreo acquires two RIAs, and Modern Wealth expands in New York.

Roughly 100 employees — mostly in management — are expected to move to the wealth management unit's new headquarters in booming South Florida.

The wealth management giant capped off 2025 by pressing ever closer to the asset and wealth management target set by former CEO James Gorman.

Bank of America's wealth management businesses suffered a blow last year when principals of a team that managed $130 billion in AUM left for independence. Merrill executives are now looking to the future with ambitious recruiting and cross-selling plans.

Wells Fargo stands out among wirehouses with FiNet, its dedicated channel for independent advisors. Wells Fargo Advisors head Sol Gindi says this structure gives the firm a competitive advantage rivals will find difficult to replicate.

Angel Ayala became the subject of JPMorgan's latest suit against its former private client advisors — "two days before Christmas day when most people are spending time with family," said his lawyer.

Henry Robert Gleckler IV's dispute with JPMorgan over his alleged solicitation of his former clients now heads for a resolution before a FINRA arbitration panel.

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.