Independent broker-dealers have narrowed the gap between themselves and the wirehouses and are able to attract more quality brokers from the Big Four.
Matt Grossman, who has worked at Merrill for 28 years, will supervise 200 brokers and advisers at the firm's Fifth Avenue office .
Wells is helping brokers transition to independence within the firm, while Morgan is taking them to court.
If advisers commit to staying at FiNet for a two-to-three year period, they will not have to pay Wells the fees it currently charges advisers switching channels.
Small RIAs see only the upside of joining the agreement, which allows them to recruit without fear of litigation
Firm says he was not fired for sexual misconduct.
Firm to merge U.S., global wealth management units on Feb. 1
Improvement reflect firm's shift of more clients into fee-based accounts priced on asset levels, which boosts results as markets rise.
The firm said it lost 47 brokers in the fourth quarter, the most in any quarter of 2017.
Questions remain about long-term effectiveness of wirehouse's move away from recruiting experienced brokers.
Racquel Oden to oversee branch and wealth management teams for tri-state area.
Regulator set to inquire about Guillermo Valladolid's alleged outside activities.
Wirehouses' withdrawal from the broker protocol will only boost advisers' interest in the independent space
None of the big four brokerages are giving their wealth management and retail advisers access to trading the cryptocurrency or any related products.
Brokerage industry 'black eye' fuels the breakaway brokerage trend.
B-Ds grew assets at a rate of 9.1% year-over-year, beating industry's overall rate by 1.9%.
The move is the second high-profile private banking departure in two weeks.
Wirehouse's pursuit of New Jersey broker through courts shows firm intends to enforce non-solicitation agreements, experts say.
More firms will exit the protocol as technology changes the game, and clients will reap the rewards.
New Jersey broker John Fitzgerald left for Commonwealth Financial Network last week.
