By Wendy Leung – When considering a move, it’s natural for advisors to wonder whether clients will follow them to the new firm. Yet the desire to share the news can completely derail a transition to another firm. Here’s what top attorneys recommend when it comes to communicating with clients before, during and after a move.
About Wendy Leung
Senior Consultant – Wendy's goal is simple: To leverage a comprehensive understanding of the industry landscape today and forces that will change it tomorrow, to guide advisors to opportunities where they can achieve long-term success for their business, clients and families. Learn more...
Wendy Leung Quoted – By Jameson Berkow, The Globe and Mail – The COVID-19 pandemic has triggered a wave of succession planning among financial advisors that some experts believe could become the largest transition the industry has ever seen.
By Wendy Leung, WealthManagement.com – It’s hard to ignore the recruiting success regional firms have experienced over the last few years. For example, in 2019 Stifel Nicolaus and Raymond James recruited some $20B and $11B in AUM respectively—both firms ranking in the top five of all firms in the entire industry when it comes to recruiting.
By Mason Braswell, AdvisorHub – Transcend Wealth Collective, a registered investment advisory firm founded last year by a former Merrill Lynch complex manager, a former New York Stock Exchange and a former high-yield fund manager, has landed another Merrill veteran. Andrew Moss, who worked at the wirehouse in Bloomfield, MI, for 26 years, joined Transcend earlier this month to open the New Jersey-based firm’s second office in Birmingham, MI.
By AdvisorHub Staff – Rockefeller Capital Management oiled its recruiting engine ahead of the Labor Day weekend, landing a $900 million-asset team in northern California from Merrill Lynch on Friday and two UBS teams in Houston, Texas and Scottsdale, Arizona.
By Erika Wheless, Financial Planning – Raymond James snapped up five former Merrill Lynch advisors who managed a collective $515 million in client assets, according to the firm. All five cited Raymond James’ technology platform as motivation for making the career change.
By Jacqueline Sergeant, FA Magazine – Five former Merrill Lynch advisors who collectively managed $515 million have joined Raymond James & Associates’ employee advisor channel in Burlington and Boston, Mass., according to a company release. The advisors – Eric Hobin, Jiles Robinson, Antonio Sordillo, Jason Whittier and Kristen Ragusin – continue RJA’s expansion in the Northeast and will become part of RJA’s Southern New England Complex led by Bill Drew, the release said.
By Wendy Leung, WealthManagement.com – 2020 was off to a great start for advisors seeking new opportunities. Who could dispute the expansion of the landscape, advances in technology and widespread access to resources once only available at wirehouses? It seemed clear that advisors had more choice and opportunity than ever before. Then COVID-19 hit—changing the course of the year and of our world.
By Jeff Berman, ThinkAdvisor – As if breaking away from established banks and wirehouses didn’t already present challenges for advisors, Chris Freimuth and Jim Perkins told ThinkAdvisor they had to overcome additional obstacles caused by the COVID-19 pandemic in order to launch their own RIA firms in March.
By Jake Martin, Citywire – Bedminster, New Jersey-based advisor Robert Bacino recently switched to the employee channel of Ameriprise Financial, leaving behind the independent RIA space he had joined more than 15 years ago. While the Covid-19 pandemic might have accelerated the move, Bacino says he was already leaning toward an exit from the independent channel.
Recent News & Articles
- Advisor Choice: How Models Like Wells Fargo’s First Clearing Offer Optionality and Flexibility
- The Trapeze: A Parable for Advisors Considering Change
- Industry Update: Answers to the Top 10 Questions Advisors Ask When Considering Change
- How First Republic Private Wealth, an under-the-radar wealth management firm, became the hottest ticket in the space—and why it matters
- In Pursuit of Purpose: The Story of a Billion-Dollar Breakaway Turned Fee-Only Independent Entrepreneur
Subscribe for Updates
Get updated by email when a new article is added.
Please note that all requests are handled with complete discretion and confidentiality.