Wirehouse advisors

Compensation related to financial advisor recruiting fell 22% for the second quarter.

Banking scandals are playing only a small role in advisor attrition, the firm says.

John and Cary Kortze opened Steward Partners' 16th branch office.

Advisor attrition is up at the beleaguered firm, but it doesn't have to be.

Six of the top 10 advisor recruits — managing roughly $13.2 billion in client assets — have walked out of the wirehouse so far this year.

These mega brokers managed $18 billion in assets at their previous firms.

Wirehouse policy changes are bearing fruit and leaving advisor career options in flux.

To convince advisors to try its platform, Capitect took a number of steps, including partnering with XY Planning Network to provide its tools to members without cost.

Here’s what the two seemingly contradictory trends mean for advisors.

The recruits oversaw more than $200 million in client assets.

Jim Senderling and John Robbie had been with Merrill Lynch for 27 and 25 years, respectively.

The firm’s FA ranks at 14,820 were down by only nine brokers from the previous quarter.

Total broker head count dropped by 173 from the prior quarter, according to the wirehouse.

Bruce Keebeck Lee has repeatedly been ranked as a top advisor by both Barron’s and The Financial Times, but he was fired in April for a failure to file compliance paperwork.

Five of the regional BD's new hires come from Wells Fargo.

Morgan Stanley’s advisors are already helping clients deal with emotional issues. What if AI could help out?

The firm's two new hires are the latest in aggressive recruiting efforts and joined from rivals RBC and Wells Fargo.

The wirehouse has lost at least 123 advisors managing $15.7 billion in client assets year-to-date, according to other firms’ hiring announcements.

Industry changes and ongoing bank scandals have tilted the playing field in favor of smaller brokerages.

The decision, involving advisors who jumped to Morgan Stanley from an RIA, holds that those who agree to give their employers advance notice before quitting aren’t absolved of that duty by the terms of the protocol.