Wirehouse advisors

The independent firm affiliated with Raymond James lured a wirehouse recruit with close to 20 years of experience.

"We are not going to have a separate robo adviser that would disintermediate our existing advisers," says CEO Paul Reilly.

The recruit spent two years researching the move before deciding to leave the wirehouse.

Several of the largest moves this year show top talent is looking beyond traditional choices.

The two ex-wirehouse advisers each had about 20 years of industry experience.

The largest recruits managed more than $17 billion in client assets.

Adviser recruiting was not expected to be affected, according to people with knowledge of the matter.

The largest teams to go indie this year managed more than $5 billion in client assets.

Regulatory and industry changes are driving some advisers to rethink their business model, writes recruiter Mark Elzweig.

Social media is included in regulatory requirements.