Meanwhile, Osaic has added another former LPL practice on the East Coast, and Carson helps a veteran advisor from Osaic make a succession-focused transition.
One team has transitioned from LPL to Osaic, while another has taken the opposite route.
The Osaic network firms announce key expansions in the West and Midwestern US, with CWA's $849 million acquisition giving it additional footholds in Utah and Arizona.
The financial advice industry's curiosity regarding LPL's success in keeping Commonwealth advisors is feverish.
It’s tough for small firms like Ashford Securities to compete in the REIT marketplace.
Also, Osaic expands in New York as a seasoned advisor joins one of its affiliates, and Wells Fargo hails a $1.3 billion recruitment haul within its FiNet advisor channel.
The New York-based startup’s platform will plug into Osaic’s national network as firms lean harder on data and automation to tackle the organic growth squeeze
Meanwhile, Bank of America and Osaic lead firms with largest net declines, according to Wolfe Research.
The broker-dealer giant is positioning new ‘Rai’ chat agent at the center of its internal AI stack as regulators probe how far autonomous tools should go.
Also, a pair of multigenerational advisor teams from UBS have defected in quick succession, moving to RBC and Raymond James.
Clients have claimed Jim Walesa sold unsuitable investments in businesses he also owned and managed.
A new report finds 22.5% of Commonwealth’s advisors left after its sale to LPL Financial, raising questions about whether the firm’s touted 90% retention target refers to advisor headcount or assets.
Investors who made the claim against Triad - and lost - were seeking as much as $34 million in damages.
Also, a veteran from Edelman has decamped to Baird, while UBS scoops an experienced Morgan Stanley advisor in the Pacific Northwest.
The industry regulator has sanctioned three broker-dealers in the Cetera network for weak controls around low-priced securities and customer reporting.
Also, Wells Fargo's recruitment rolls on with a billion-dollar-plus group from Commonwealth while LPL adds an Ameriprise team in Houston.
New data show LPL, Edward Jones, and other national players leading amid a surge in credential holders, with more women and diverse advisors entering the field.
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A number of financial advice firms over the past several years have reported similar data breaches.
Meanwhile, Wells Fargo snags another rival wirehouse team in Atlanta, while another longtime LPL advisor joins other seceders to Cetera.
