Wirehouse advisors

Cerity Partners adds its own large RIA in New York, and Beacon Pointe acquires firms in Indiana, Washington State and New York.

Also this week, Wells Fargo recruits from LPL, RBC and TD Private Wealth, and Corient moves overseas in a deal that doubles its AUM.

Golden State Wealth Management is just the latest large advisory team to exit UBS following changes the wirehouse made to its compensation policies.

Also this week, Raymond James picks another team from Commonwealth amid its purchase by LPL, and Cetera recruits from B. Riley Wealth Advisors.

Recruiters say firms routinely cover advisors' lost deferred compensation in offer packages. Those deals are complicating efforts by advisors who contend they're still owed backpay.

Plus, UBS loses a pair of advisors from a prominent team to Morgan Stanley, while SageView and Corient make big acquisition deals.

Complex manager John Moran says RBC Wealth Management's New York market has recruited advisors with nearly $10 billion in assets this fiscal year, pulling from rivals like UBS, JPMorgan and Morgan Stanley.

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.