IFG works with 550 producing advisors and generates about $325 million in annual revenue, said Dave Fischer, the company's co-founder and chief marketing officer.
"It's like a soap opera," says one senior industry executive.
A company spokesperson called the layoffs a "small reduction in our workforce."
United Planners' costs related to lawsuits and regulators' actions into the advisor continue to rise.
Meanwhile, GPB senior executives' sentencing for fraud pushed to May.
Wealth management job cuts at Edward Jones and Morgan Stanley are linked to a sinking stock market, tariff battles and the unknown, say industry executives
Ameriprise has targeted LPL in at least four complaints since January 2024, alleging its competitor had unfairly hired its financial advisors.
In any brokerage transaction, it’s a fight for assets.
Moloney Securities has been the target of securities regulators recently for sales of high-risk alternative investment products.
Top firms pursuing Commonwealth's advisors include Raymond James, Kestra and Cetera.
