Results for "recruiting"

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Two Morgan Stanley brokers sue their old firm as they walk out the door

May 21, 2018

Two brokers who left Morgan Stanley on Friday to work at another brokerage firm took the unusual step of filing a lawsuit against their former employer in an attempt to prevent the wirehouse from suing them over their clients. The two registered...

Unlimited vacation time: a nice perk no one expects you'll use

May 21, 2018

Moving into the summer season, the idea of unlimited vacation time might be the ideal recruiting tool for some advisory firms. But when it comes to actually taking that time off, it's often the unwritten rules that matter most. "Offering unlimited...

Michael Murray only latest to leave LPL's recruiting staff

May 14, 2018

An industry powerhouse when it comes to recruiting, LPL Financial has recently seen several senior and mid-level recruiters jump ship or retire. The most conspicuous departure was disclosed last week, when Cetera Financial Group said it hired...

Will LPL's new rich recruiting deal lure advisers?

April 30, 2018

It is too early to tell the impact of LPL Financial's new, unprecedented recruiting deal, which one recruiter described as "the best deal that's out there." Instead of paying a broker a percentage of the prior year's fees and commissions, known...

Cetera Financial Group snags another senior LPL executive

May 9, 2018

Cetera Financial Group continues to pick off senior executives from key rival LPL Financial, even as the independent broker-dealer industry speculates that the two giant firms possibly could merge in the near future. Late Wednesday afternoon,...

Raymond James, on a recruiting roll, looks for an acquisition in the West

April 26, 2018

Raymond James Financial Inc. added 67 more brokers and advisers in the first quarter, pushing its total adviser workforce to 7,604 — a 5.3% increase from a year ago. "The private client group has done very, very well and continues on its steady...

Stifel CEO Ron Kruszewski blasts firms that try to restrict broker movement

May 1, 2018

Registered reps and financial advisers should not be tethered to the firm's they work for, according to Ronald Kruszewski, chairman and CEO of Stifel Financial Corp. When firms restrict advisers from potentially moving to a new employer, it's...

UBS continues to cut loans to recruits, while increasing compensation to brokers

April 23, 2018

UBS is recruiting less and paying its brokers more. The bank released first quarter earnings Monday, and in a news release reported that recruitment loans to financial advisers had declined 20% in the quarter when compared with the same period...

Merrill Lynch's incentives for new accounts paying off

April 16, 2018

Merrill Lynch's move last year to align its compensation grid for its 14,829 brokers and advisers to hustle after new accounts appears to be paying off. The wirehouse said on Monday that assets under management flows of $24 billion for the first...

J.P. Morgan Securities seeks temporary restraining order against ex-broker in Illinois

April 11, 2018

J.P. Morgan Securities filed a complaint and request for a temporary restraining order on Tuesday, seeking to stop one of the firm's former brokers from doing business with the firm's clients. Ryan C. May resigned from J.P. Morgan in Illinois...

The next generation of advisers don't just want a job – they want inspiration

April 30, 2018

With the age of the average independent adviser remaining stubbornly high, firms that support these professionals have become more resourceful and focused in reaching out to the younger generation. From supporting more CFP programs at the college...

Independent broker-dealers open up their coffers as fight for talent turns fierce

March 28, 2018

While the wirehouses have dramatically pulled back in recruiting new brokers, broker-dealers that pay reps as independent contractors are spending like crazy to hire new talent. A key metric for broker-dealers when recruiting new brokers and...

Stifel, UBS lose advisers to Wells Fargo's independent unit

June 1, 2017

Two registered representatives each managing more than $100 million in client assets have left their firms and affiliated with Wells Fargo Advisors Financial Network, the bank's independent contractor unit. (More: Wells Fargo's move to boost...

Wells Fargo Advisors continues to bleed reps

April 13, 2018

Wells Fargo Advisors continues to see a decline in the number of brokers and advisers working at the firm's various channels, reporting Friday a net loss of 145 reps over the first three months of this year. A spokeswoman for Wells Fargo Advisors,...

Wells Fargo loses a $500M team to Ameriprise ​

March 14, 2017

A four-person advisory team has left Wells Fargo Advisors and joined Ameriprise in Charleston, S.C. Donald Alderman, Robert Holt, Jamie O'Brien and Scott Laney, who together managed $500 million in assets, have joined Ameriprise's employee channel....

UBS, after dumping the broker protocol, continues to see brokers come and go

March 15, 2018

When UBS Financial Services Inc. decided to leave the protocol for broker recruiting at the end of November, many in the industry believed it would have a chilling effect on broker movement at the wirehouse. That has not happened. Brokers continue...

The secret to a more productive advisory firm

April 9, 2018

The following is an excerpt from the new white paper, “Enhancing Productivity through Support Advisor Empowerment.” To download the full paper from Cadaret Grant, click here. While markets continue to provide a largely supportive backdrop...

UBS reels in $30 billion J.P. Morgan team focused on Mexico

March 23, 2018

UBS Financial Services Inc. pulled off a recruiting coup on Friday by hiring five ultra-high-net-worth advisers from J.P. Morgan Private Bank who focus primarily on Mexico and managed $30 billion. According to a memo obtained by InvestmentNews,...

Fired $1.3B Merrill broker finds new home at RBC

April 10, 2015

Bank of America Merrill Lynch's former top broker in Indiana, who was abruptly fired March 4 after an investigation by the firm, has found a new home. Thomas Buck, who had previously managed some $1.3 billion in assets, has joined RBC Wealth...

Recruiting isn't the finish line; it's the starting point

January 22, 2015

Our industry is all about encouraging clients to commit to diversified, long-range investment plans and strategies. Ironically, we tend to lose site of the importance of investing organically and wisely in the future when it comes to recruiting....

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