Results for "recruiting"

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State court ruling on broker protocol could greatly affect job seekers

July 3, 2018

Financial advisers counting on an industry pact to switch jobs safely with clients in tow could run into obstacles after a ruling by a Georgia state court last week. The decision, involving advisers who jumped to Morgan Stanley from Aprio Wealth...

LGBTQ advisers and clients would welcome this approach

June 28, 2018

Even for firms that have embraced the value of increasing diversity, making the workplace LGBTQ-friendly has an added challenge of visibility. Unlike gender and race, sexual orientation isn't as visibly obvious and probably wouldn't come up...

Ex-Waddell & Reed manager finds success recruiting advisers from old firm

June 11, 2018

A former Waddell & Reed branch manager who left a few years ago to launch a hybrid firm has successfully been recruiting financial advisers from his old company as it continues to grapple with turnover in senior management, a shrinking number...

After firms dump protocol, advisers show reluctance to make a move

June 5, 2018

Last fall, Morgan Stanley and UBS Wealth Management Americas left an agreement among brokerage firms that allowed brokers and advisers to take a limited amount of client information to a new employer without being sued. Called the Protocol for...

LPL loses broker-dealer business of $915 million hybrid to Private Client Services

June 4, 2018

RFG Advisory, a hybrid firm based in Birmingham, Ala., whose RIA arm manages $915 million, has switched its broker-dealer affiliation from LPL Financial to Private Client Services. According to its website, the hybrid has $817 million in brokerage...

UBS latest to make push for young, diverse advisers

May 22, 2018

Correction: An earlier version of this story incorrectly stated that 20 young advisers had completed UBS' general adviser training program. That is the number that have started the program.​ UBS Wealth Management Americas is the latest firm...

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...

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...

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...

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...

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...

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...

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...

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...

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,...

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 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...

Finra arbitrators award $475,000 to Morgan Stanley for broker who violated protocol

March 28, 2018

Finra arbitrators awarded $475,000 to Morgan Stanley in a case involving a broker who the firm said violated an industry agreement to make it easier to move from one firm to another. In an award handed down on Tuesday, the panel held that Kevin...

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...

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,...

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