As some wirehouses hire more salaried advisers, speculation mounts that the traditional way of compensating brokers is being threatened.
235 individual advisers or teams with $61.5 billion in assets left a wirehouse in 2018 to work at another type of firm, InvestmentNews data show.
Firm cuts its regions by one-third with hopes of reducing bureaucracy.
First-quarter breakaway broker numbers drop by 36%.
Houston-based Americana Partners is using Dynasty, Schwab and Addepar.
The company called it a challenging first quarter, with pretax profits for wealth management Americas declining 6%.
The firm's better-than-expected inflows in the first quarter marked a rebound from fourth-quarter outflows.
Shelley O'Connor will now head the firm's bank units, while Andy Saperstein will be sole leader of wealth management.
The bank's shares have fallen 3.1% since CEO Tim Sloan resigned, compared with a 6.5% gain for the KBW Bank Index.
Despite a stock market decline, revenue is up. And the streak isn't expected to end anytime soon.
Interest-rate environment, growth of buffered annuities and loss of the DOL fiduciary rule helped grow sales by $3.7 billion last year.
Chairman and CEO James Gorman expresses excitement about expanding into workplace plans with purchase of Solium.
The Thundering Herd is doing more business with new households.
Firm lost another 140 advisers in the first quarter, compared with 106 the previous quarter.
Referrals between newer and experienced advisers key to the hiring of 300 new advisers.
Transaction is part of Wells' effort to streamline its operations in the wake of scandals.
The bank's biggest shareholder says hiring an executive from a financial institution would trigger criticism from Washington, Financial Times reports.
Allen Parker, the bank's general counsel, will serve as interim CEO.
As big brokerages lose their competitive edge, regionals are offering a home to advisers who want to stay in the employee channel.
Tim Traudt replaces Jay Welker at the start of next month.
