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The latest additions to RBC's long history of attracting billion-dollar UBS teams have bolstered its presence in Boise, Idaho.
The deal ending more than 30 years of ownership by the Swiss bank includes six investment strategies representing more than $11 billion in AUM.
Research finds contributions to 401(k)s are dropping due to economic fears.
In regards to the new fund, called WVB All Markets Fund, Morningstar analysts wrote that, "despite the brand-name pedigree of the asset managers involved, most of these strategies are untested."
RWM has unveiled its newest office in Chicago's iconic Salt District as JPMorgan Chase bares plans to scale across four states.
The two firms have also bolstered their ranks with additions from LPL, Morgan Stanley, and PNC Investments.
An effort by the advisor to move to the bank's independent contractor division proved to be a critical detail to the dispute.
The newest transitioners bolster LPL and Wells Fargo's talent pool in Texas and North Carolina, respectively.
Two-thirds of direct indexing users expect to ramp up adoption, particularly in the high-net-worth space, though many still face operational barriers.
Meanwhile, Raymond James bolsters its employee advisor channel with a former Janney pair in Pennsylvania.
Wall Street giant avoids penalties as regulator ends yearlong review of interest treatment on idle client cash.
Elsewhere, Wells Fargo also recently announced several new hires from Cetera, Merrill Lynch, and JPMorgan.
Also, Merill Lynch scores a billion-dollar recruitment win in New York with a sports-focused advisor defecting from UBS.
Toward the end of last year, UBS said it was redrawing its pay plan for advisors, but "every time one of the big firms like UBS tinkers with the advisors' compensation, some of them say, that's it, that’s the last straw," recruiter Danny Sarch said.
The Merrill Lynch defectors expand RBC's reach in Texas while LPL bolsters its New York presence.
The approval of the pay proposal, which handsomely compensates its CEO and president, bolsters claims that big payouts are a must in the war to retain leadership.
RBC and Rockefeller strengthened their East Coast presence, including a $5 billion defection from JPMorgan, as Merrill welcomes a top-caliber advisor in California.
Bleakley announces a double addition from Northwestern Mutual while RBC takes in an experienced advisor from US Bank.
Industry research report unpacks trends in advisor channel movement, declines at wirehouse firms, and momentum building towards RIA affiliations.
