Duo managing $740 million join LPL’s employee channel
By Investment News – Kyle Smith and Michael Sandlin, who managed $740 million at Truist Investment Services in Raleigh, North Carolina, have joined Linsco, the employee channel of LPL Financial.
What’s Driving All the Movement Away From Ed Jones?
By Debbie Wallen – Historically, advisors at Edward Jones rarely changed jerseys. They were loyal, felt independent enough, liked the culture and enjoyed the strong brand recognition. But, today, we are seeing more and more Jones’ advisors leaving—and here’s why
Wells Recruits $3.5-Mln UBS Family Team, Million-Dollar RBC Producer
By Vicky Ge Huang, AdvisorHub – Some of the brokerage industry’s most aggressive recruiters illustrated in the past week that their transition teams continue to operate during the pandemic as part of their broader business continuity plans.
Merrill Lynch Team Bolts for Raymond James
By Alex Padalka, Financial Advisor IQ – As Merrill Lynch reports that its advisor ranks dipped slightly in the second quarter 1% from the previous year, the wirehouse lost a team of brokers to Raymond James, according to Raymond James.
Raymond James hires three wirehouse veterans with $487M
By Graison Dangor, OnWallStreet – Raymond James hired three veteran wirehouse advisors with $487 million in combined assets to its employee channel in another victory for its expansion in the Northeast.
When Size Does Matter
By Debbie Wallen – Not that long ago, generating $1mm in revenue was a milestone worth celebrating: Those at this level were considered top of the food chain, and ardently pursued by all major firms. But, in today’s world, it’s the advisors in the “Billion Dollar AUM Club” who garner the lion’s share of attention from firms.
UBS Loses Veteran Financial Advisor to Ameriprise
By Alex Padalka, Financial Advisor IQ – Ameriprise Financial has nabbed a veteran financial advisor from UBS Financial Services, according to a press release from Ameriprise.
NPH, LPL practices bring 20 more advisors to Securities America
Debbie Wallen Mentioned – By Tobias Salinger, Financial Planning – Securities America nabbed two more practices from National Planning Holdings to bring its total haul from NPH to more than 215 advisors with $8 billion in client assets following the LPL Financial deal. A major hybrid RIA practice with Securities America also added a sole practitioner from LPL as part of three moves consisting of 20 advisors managing a combined $716 million, the firm announced this week. The suburban Omaha, Nebraska firm constitutes the ninth-largest independent broker-dealer.
The Final Frontier for Terminated Advisors
By Debbie Wallen – It’s no secret that firms have adopted zero-tolerance policies as a result of the hyper-compliant world we are living in. As such, we are seeing more and more wirehouse advisors being terminated for non-sales related issues – some infractions that many would consider absurd. Even the long-tenured and large producers – who once felt somewhat immune to such scrutiny – are finding themselves facing audits that have lead to unexpected terminations.
Big Things Can Happen in Small Places
By Debbie Wallen – You work in a small market office of a wirehouse firm and are the only game in town—which can have its advantages, like dominating the market place: both a great feeling and economically rewarding.
