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Also remarkable: the size of the teams that are leaving and the types of firms benefiting from the defections, a new report from Diamond Consultants finds.
10h ago -
Wells Fargo CEO Charlie Scharf also points to investments into the firm's independent channel as helping to retain advisors and curtail departures to other firms.
October 14 -
Though advisors keep heading for the door following the sale of Commonwealth, industry analysts believe LPL Financial can still hit its post-purchase goals for retaining assets and headcount.
October 9 -
But Commonwealth Financial Network retains its appeal, pulling a team from Morgan Stanley, while LPL draws a large practice from RBC.
October 3 -
Francisco Gil tried to claim his status as an independent contractor entitled him to tax deductions for travel, meals and marketing expenses. The IRS and a federal judge said he was in fact an employee.
October 1 -
Merrill had sought a temporary restraining order to prevent members of a large Atlanta-based team who left last week from soliciting former clients for their new firm.
September 30 -
In a lengthy court reply, advisors who left Merrill this week to form an RIA with Dynasty Financial Partners accuse Merrill of "bad faith" for putting them on administrative leave and failing to reinvest in their business.
September 26 -
Also this week, Raymond James draws from Commonwealth again amid that firm's absorption by LPL Financial, and Osaic adds advisors with nearly $800 million in AUM.
September 26 -
Merrill is also adjusting the incentives it gives advisors for steering clients into banking products.
September 25 -
Firms are increasingly looking to provide high net worth clients with services stretching beyond basic wealth management. The offerings include everything from help with cybersecurity to taking out complicated loans.
September 23