The move is part of an enhanced digital approach the firm plans to roll out in stages over the next several months.
The team is comprised of four-advisers, working in Paramus, N.J.
Firms have trimmed their lineups of investment products, leveled broker compensation and standardized compensation across product lines
The firm has created a new role, head of the field, and eliminated division-level leadership positions
Brokers will be paid a flat rate based on clients' retirement assets, not transactions.
The firm will pilot the program with 500 advisers in July and expects to roll it out to all of them by year-end.
If you are a wirehouse adviser who has counted a giant recruiting package as part of your net worth, you need to recalculate.
Wirehouse is seen as trying to shore up adviser ranks that took a hit after banking scandal
Edward Jones and Wells Fargo invest in tech start-ups to find technology before competitors.
Some large brokerages such as Morgan Stanley, Edward Jones and Raymond James have seen a surge in advisory assets a year on from promulgation of the retirement regulation.
Mutual fund sales will be limited to T shares, while municipal bonds, preferred stock and international debt will be prohibited.
Five-person Holloway Harman & Associates is based in Kansas City, Mo.
Regulator censures firm for handling of customer orders for nonconvertible preferred securities
Wirehouse's new recruiting strategy will focus on hiring and training younger advisers at the expense of signing top producers from rival firms.
Because of the fiduciary rule, broker-dealers are looking to have level compensation across their platforms.
Two Texas reps sign on to employee channel
Jesse Joseph Holovacko took $255,000 from client IRA claiming to buy bonds.
Walter Stamper of Chattanooga, Tenn., managed $147 million
Industry veteran will start at Morgan in the third quarter
Four breakaways in Colorado Springs sign on with HighTower.
