Recruiting & transitions: archive
Every Recruiting & transitions story in Advisors, newest first. 107 stories
2 stories
Merrill to add targeted 2027 advisor bonuses, keeps core grid
Financial Planning reported the firm will hold its basic compensation grid in place while seeking to boost recruiting.
Kintra Wealth adds Scott Seymour's $355M practice to advisor-owned platform
Seymour, registered with Commonwealth for seven years, joins as partner and will use Kintra's shared operations, compliance and investment staff.
1 story
Wealthcare, Mariner pitch 1099 affiliation to advisors fed up with Form ADV work
Matt Regan and Rob Sandrew said solo advisors are weighing platform support against keeping their own Form ADV registration.
7 stories
Prudential Wealth Advisors to centralize recruiting, targeting 2027 launch
The 3,000-advisor wealth arm says it is interviewing two leads for the unit and expects to be in market in the second half of 2027.
Elevation Point takes minority stake in $750M UBS Las Vegas breakaway
Truing will run under Elevation Point's corporate RIA and custody client assets with Goldman Sachs Custody Solutions.
Osaic recruits $2.3 billion ICG next team from LPL Financial
The New Jersey-based team, led by managing partner James A. Costabile, plans to keep expanding through recruiting and acquisitions.
BofA cuts Ameriprise to Underperform, citing advisor exits and retention loan costs
Analysts lowered their price target to $445 from $570; shares fell 4.07% after BofA cut the rating Monday.
Osaic adds $2.3 billion ICG next from LPL, keeping firm's brand
The Wall Township, New Jersey firm has roughly 21 advisors, a Melville, New York office, and has almost tripled in size since 2019, according to the announcement.
ICG next leaves LPL for Osaic with $2.3 billion and acquisition plans
The Wall Township, N.J., firm launched at LPL in 2019 and now has about 21 advisors; transition payments and payout terms were not disclosed.
Bank of America downgrades Ameriprise, questioning whether retention bonuses keep big teams
Analysts call RIA ownership economics a structural disadvantage the firm can't easily remedy; Ameriprise shares closed down 4.07% on Oct. 19.
3 stories
Two JPMorgan advisors leave with $18.6B to launch self-funded Latigo Peak
Jim Atwood and Phil Scott are opening in Palm Beach Gardens with 48 professionals and two custodians, Charles Schwab and BNY Pershing.
Phil Scott, Jim Atwood launch self-funded RIA with $18.6 billion
The founders own Latigo Peak Partners through ASO Meridian Holdings and will use Schwab and Pershing for custody and lending.
Janney opens Houston office with four Raymond James advisors managing nearly $3.5B
The Edwards Fitzpatrick Group leads Janney's second Texas office; Rockefeller also added a Naples, Florida group from Truist.
2 stories
Ameriprise adds three RBC teams with $1.2 billion; Wells Fargo adds $900 million
The RBC teams cited Ameriprise's technology platform and planning capabilities; Raymond James added a $245 million UBS team in Paramus, New Jersey.
Rockefeller hires $1.2 billion Truist team in Naples, Florida
The Kellam Group produced $7 million in revenue on $1.2 billion of client assets, per a source familiar with the move.
1 story
Schwab Advisor Services net new assets rise 47% in Q3
CEO Rick Wurster drew a contrast with Fidelity after Fidelity told sub-$100 million custody clients to move by June 2027.
4 stories
Hoge moves $3B-asset Truist team to Captrust, citing employee equity
Captrust says just over 68% of its more than 2,000 employees hold a stake.
LPL adds $1 billion Seattle team from Northwestern Mutual
Prince Financial Services founders Julie Prince and Dave Burnett each spent about 20 years at Northwestern Mutual.
Captrust acquires $3 billion Truist team; some members receive equity
The 13-person Hoge-Barrett Group registered with the Raleigh RIA on Oct. 9; terms of the deal were not disclosed.
Perennial and Economos teams launch with $1B-plus at Integrated Partners and LPL
The Perennial team moves more than $500 million from Hightower to an Integrated Partners platform, while Nick Economos takes about $580 million from Merrill to LPL's supported independence model.
3 stories
State Street launches Apex-powered RIA custody unit for $1 billion-plus RIAs
The Boston bank is targeting RIAs managing more than $1 billion with the service, re-entering a custody business it left five years ago, RIABiz reported.
Eight Raymond James brokers register $1.4B RIA, keep custody at firm
Seven of the eight advisors are keeping brokerage licenses through Kingswood Capital Partners while the new firm will continue to custody with the St. Petersburg, Florida-based firm.
Wirehouse recruiting packages reach up to 425% of revenue, Diamond report says
The first-half transition report counted 932 experienced-advisor recruits against 1,449 departures at the four wirehouses.
1 story
Indivisible, launched by former Merrill executives, adds $1.1 billion RBC team in Baltimore
The group, operating as Rosenwald Private Wealth, is at least the ninth practice to join Indivisible since its early-2025 launch.
4 stories
BNY Pershing retires Wove and shifts RIA platform reset to Adam Vos
RIABiz reports the successor platform has no name and describes Adam Vos, Pershing's new RIA head, as unproven in custody.
Fidelity plans $100 million RIA custody minimum with June 2027 deadline
Rival custodians are already competing for the few hundred firms below the planned $100 million threshold, up from $15 million, Kitces reports.
Diamond report puts employee-model recruiting packages at up to 425% of revenue
The first-half transition report counted 1,449 experienced-advisor departures against 932 recruits across the four wirehouses.
Advisors under Fidelity's $100 million custody minimum face months of repapering
Brad Wales says the June 30 deadline allows enough time for a three-phase move, but advisors should not wait to start repapering.
5 stories
Goldman COO John Waldron could become chief executive in January, RIABiz says
RIABiz, citing press reports, says Waldron oversaw the Folio Institutional acquisition and the Creative Planning custody deal.
Orchard Financial Group, a $580 million Ameriprise team, joins Wells Fargo's FiNet
The Los Angeles team produced $4.3 million in annual revenue and brought three additional advisors and four support staff, a spokesperson for the hiring firm said.
Wirehouses shed a net 517 experienced advisors in the first half of 2026
Diamond Consultants counted 1,449 experienced-advisor departures against 932 arrivals across Merrill, Morgan Stanley, UBS and Wells Fargo in six months.
Four Raymond James practices move more than $1B to Ascentis, keep Raymond James custody
The practices will operate from offices in California and Colorado under their own brands.
Big four wirehouses lost a net 517 experienced advisors in first half of 2026
Merrill, Morgan Stanley, UBS and Wells Fargo are the four firms in Diamond Consultants' count, which already tops the 302 they lost in all of 2025.
4 stories
XYPN registration pipeline hits 110 firms as rollup advisors join
The network says it added more than 370 advisors in 2026 and now reports 2,400 members, 300 of them SEC-registered practices.
Fidelity says a few hundred advisory firms face its $100 million custody cutoff
Affected firms hold less than 1% of the $5.8 trillion Fidelity administers across 3,300 RIAs, family offices and broker/dealers.
Betterment waives custody fees through Dec. 31, 2028 for RIAs transferring from Fidelity
The offer has no asset minimum and a June 30, 2027 sign-up deadline; Fidelity set a $100 million threshold for staying on its platform.
Fidelity gives RIAs under $100 million until June 2027 to leave custody
Financial Planning's survey names Schwab and BNY Pershing as alternatives, but the options that would keep a firm at Fidelity remain undescribed.
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Small RIAs weigh joining a network to clear Fidelity's $100 million minimum
Advisory Services Network, which already clears Fidelity's bar, says firms have asked to join; an analyst warns the scale benefit depends on how an aggregator files.
LPL adds $1.1 billion Praxis team from Wells Fargo Advisors Financial Network
Praxis Financial Partners keeps its name and, after evaluating more than a dozen firms, cites ownership retention and succession options, according to LPL.
Rise Private Wealth Management is Schwab's fourth large Ameriprise breakaway of 2026
The Bedford, N.H., firm's ADV filing surfaced a near-$8 billion move Ameriprise has confirmed; neither Schwab nor Dynasty announced it.