The industry group says current rules are outdated and overly broad, urging reforms to better reflect modern communication channels.
Drawing scores of breakaways with $50 billion in prehire assets, the hybrid RIA co-founded by former Wells Fargo leaders has officially hit the ambitious target set at its inception two years ago.
With M&A deals poised to exceed 300 this year, sub-acquisitions now account for nearly one-third of all RIA transactions thanks to a "maturing" ecosystem.
LPL's W-2 channel, Linsco, also added a $330 million team from Janney, while Ameriprise's independent unit lassoed advisors from LPL and Wells Fargo.
The investment led by Bain Capital, with participation from Edward Jones, comes as new research points to the rising role of 401(k)s for younger generations' retirement security.
Also this week, NorthRock Partners added a $2.7 billion advisory firm in California, while Carnegie Investment Counsel deepened its footprint in Florida.
The brokerage giant added over one million new brokerage accounts for the fourth straight quarter, while total client assets reached a record $11.59 trillion.
An open letter from the fintech to the 401(k) giant has sparked a fierce debate over how retirement savers ought to be able to engage third-party advisors.
Wealth management units post standout results, powered by rising client balances and increased trading.
The move to enter the $13 trillion DC plan market follows recent regulatory shifts, with Blackstone joining other asset managers seeking to bring private assets to workplace retirement plans.
