Results for "recruiting"

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Controversial adviser Ed Butowsky launches broker-dealer aimed at smaller breakaways

November 7, 2019

While much of the financial services industry has become fixated on building scale through record-level acquisitions of registered investment advisers, Texas-based RIA Ed Butowsky is going against the grain by launching a broker-dealer aimed...

LPL, Raymond James led gains in adviser headcount last quarter

October 29, 2019

Two large independent broker-dealers racked up strong recruiting gains in the third quarter, while all four wirehouses lost advisers on a net basis in the period. LPL Financial, the nation's largest IBD, had a net gain of 94 advisers, while...

Closing the retirement savings gap for employers and employees alike

October 24, 2019

In today's low unemployment rate environment, competition for top talent is fierce. So how can businesses owners compete to attract and retain quality talent? And how can financial advisers help them do this? Ultimately, the solution lies in...

Advisor Group loses another big team, this one with $2.5 billion in assets

October 16, 2019

Cambridge Investment Research Inc. has reeled in a large group of advisers, the Nettuno Group, that was formerly registered with FSC Securities Corp., one of the broker-dealers in the Advisor Group network. The Nettuno Group, which is based...

Head count at Wells Fargo Advisors slips, but exits continue to slow

October 15, 2019

Wells Fargo Advisors is continuing to see churn in its broker and adviser workforce, but — after three years of watching advisers leave the firm in the wake of banking scandals — the pace continues to slow down. In the earnings report Tuesday...

Enhancing financial advice with model portfolios

October 11, 2019

Shifting demographics, changing attitudes toward advice, and growing regulatory and compliance requirements are placing greater demands on financial advisers to generate more efficiencies and economies of scale to meet their goals. Despite these...

LPL reels in three teams from Advisor Group broker-dealers

October 3, 2019

LPL Financial is starting the final quarter of the year with a recruiting bang, having recently snagging three teams with close to $1.5 billion in client assets from rival Advisor Group broker-dealers. Earlier this week, Financial Solutions...

UBS 'raid' of Credit Suisse in U.S. prompts $9 million slap

September 18, 2019

A public spat between a pair of Swiss banking giants that erupted almost four years ago is now finally ending with a payment. It began in 2015, when Credit Suisse Group accused crosstown rival UBS Group of unfairly poaching staff from its U.S....

As wealth management firms try to hold onto assets, they don't always get what they pay for

August 14, 2019

The average adviser in the wealth management industry is over 50 years old. A significant percentage of the best performers are over 60. What does this mean for the industry over the next 10 years? If you talk with the top wirehouse advisers...

Cetera Financial Group adds 1,000 advisers, $19 billion in assets so far in 2019

August 14, 2019

Cetera Financial Group is having a banner year in attracting new advisers to its platform, with recruits ranging in experience and production from sophisticated wealth managers to those relatively new to the financial advice industry. Cetera,...

The fight over who owns the client comes to RIAs

August 13, 2019

The persistent war between who controls clients and their assets is typically fought between wirehouses and their advisers. And that fight can get ugly, with these major brokerage firms taking advisers to court when the advisers leave one firm...

UBS loses 248 advisers in the Americas over past year

July 23, 2019

UBS on Tuesday reported a year-over-year decline of 248 financial advisers, or 3.6% of the global bank's financial adviser workforce in the Americas, as of the end of the second quarter. The Swiss bank reported 6,689 financial advisers at the...

Wells Fargo duo managing $350 million goes indie with Raymond James

July 16, 2019

An adviser team managing $350 million at Wells Fargo Advisors in Pasadena, Calif., has gone independent. Advisers Austin Heberger and Gavin Lee have set up Arroyo Capital Partners, which has affiliated with Raymond James. They brought with them...

Wells Fargo Advisors slows down outflow of advisers

July 16, 2019

After almost three years of bleeding brokers, Wells Fargo Advisors appears to have stanched the flow of advisers leaving the firm. Its parent bank, Wells Fargo & Co. has struggled with myriad problems and scandals since September 2016, resulting...

UBS hires advisers with $2 billion in client assets

July 12, 2019

UBS Global Wealth Management is continuing to selectively hire financial advisers, with brokers recently joining the firm in San Francisco and New York. In June, UBS hired Mariia Eroshin in San Francisco. She had most recently worked at Citigroup...

A higher standard of client care

July 8, 2019

The financial services profession is about more than just numbers. It's about helping people navigate life's complexities. Financial advisers serve an important role as their clients prepare for milestones. So it's no surprise that the client-adviser...

LPL snags $1.1 billion team from Raymond James

July 2, 2019

A team of retirement advisers in the Northwest with $1.1 billion of brokerage, advisory, and retirement plan assets has left Raymond James' independent broker-dealer network to work with LPL Financial. PacNorth Retirement Group of Spokane, Wash.,...

Hire new college grads, and help plan for the future of your firm

June 11, 2019

Do you have a plan for the future of your firm? Mentoring new college grads is a great answer. Each year, our colleges and universities produce over 2.5 million graduates. Most, obviously, aren't ever hired by investment advisers and financial...

Wirehouses are losing the war for client assets

May 8, 2019

As a headhunter, I tend to define the war for assets in the wealth management industry in terms of where advisers leave and where they go. And the industry follows that very closely, too, since it is interesting and newsworthy when large teams...

LPL's recruiting starts the year where it left off in 2018

May 3, 2019

LPL Financial in the first quarter picked up where it left off in 2018, reporting after the market close Thursday that it added $7.1 billion in recruited asssets in the first three months of the year. That's more than one quarter of LPL's total...

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