Recruiting & transitions: archive
Every Recruiting & transitions story in Advisors, newest first. 107 stories
1 story
Fidelity tells sub-$100M custody clients to move as Schwab stops short of a promise
The threshold counts assets held at Fidelity rather than total firm AUM, and Schwab cites the 11,000 micro-practices it already serves while stopping short of a promise.
1 story
Schwab offers an informal welcome to Fidelity's sub-$100 million custody clients
The custodian says it already serves 11,000 micro-practices, but stops short of a promise as Apex, Altruist and Robinhood's TradePMR also say they are open.
2 stories
Fidelity gives custody clients under $100 million until June 2027 to move
The company confirmed the letters, and the alternatives advisors named so far carry conditions of their own.
Cullman/Holt Group moves $1.3 billion from UBS to Wells Fargo's FiNet affiliate Ascend
The seven-person group joins Ascend Advisory Group, which manages more than $2.5 billion in Dublin, Ohio.
5 stories
Fidelity tells sub-$100 million RIAs to leave, with no fee option to stay
Michael Kitces calls the hard no bizarre, noting past minimum increases let small firms pay a fee to stay.
Fidelity gives sub-$100 million RIAs until June 2027 to grow or move custody
The custodian's existing $100 million joining minimum now applies to RIAs already on the platform, Financial Planning reports.
Fidelity gives sub-$100M RIAs until June 2027 to find a custodian
The threshold counts assets held at Fidelity, not total firm AUM, and the notice went directly to affected firms.
Concurrent acquires Spire, a $5.4 billion RIA with 30 advisor teams
Spire's advisors keep their own brands as independent contractors, and both advisors and employees become eligible for Concurrent equity after a year.
Lakewood Wealth's $170 million Ann Arbor team moves from Cambridge to LPL
The three-adviser book spans advisory, brokerage and retirement plan assets; the announcement does not disclose transition terms.
2 stories
A $1.3 billion UBS duo joins Ascend Advisory Group in Dublin, Ohio
Jeffrey Cullman and Bruce Holt join a Dublin, Ohio practice that held $2.5 billion as of December, while the hiring report cites their team at both $1.3 billion and $1 billion.
Rockefeller adds Truist's $6.2 million Piedmont Wealth Partners team in Charlotte
The $1 billion team's three principals all came to Truist through the BB&T side.
2 stories
Most remaining Wells producing managers told to pick clients or management
A source says they must decide by October 1; Wells says the move fits a shift toward larger, higher-producing branch complexes.
UBS hires Merrill's John Pham and Jimmy Yip below $10M production minimum
The pair produced $7.5 million against the $10 million bar for a 16-year package paying 550% of revenue, on a book sources put at $575 million to $1.2 billion.
1 story
UBS hires Merrill’s John Pham and Jimmy Yip, a $7.5 million Silicon Valley team
The pair’s $7.5 million production fell short of the $10 million minimum for a 16-year offer paying 550% of revenue, while sources put the book between $575 million and $1.2 billion.
1 story
UBS's digital hire is a book-transfer play
The platform build Naureen Hassan is leading will set two prices for UBS's 6,000 brokers: what a team costs to recruit and what a book is worth at retirement.
1 story
Ameriprise pays advisors to stay, and prices the exit
Retention cash arrives once and is taxed once; the RIA equity it now competes with gets priced by the next transaction, and Ameriprise's own CEO has already written the test for which payment survives.
2 stories
UBS freezes the grid and bets stability beats a check
As Morgan Stanley raises thresholds 10% and Cresset pulls a $4 billion UBS team, UBS's 2027 plan bets a compounding annual payout can beat an upfront check.
UBS holds the grid and prices what leaving costs
An unchanged 2027 payout grid and a funded 25% growth bonus leave UBS advisors comparing a cash advance against a repayment obligation — and force competing RIAs and recruiters to quote the whole move.
3 stories
Schwab's fourth Ameriprise raid reprices the breakaway math
Four teams and $10 billion or more out of Ameriprise this year make the Schwab-Dynasty playbook the template for any advisor weighing independence, custodian and package structure at once.
Altruist's AI head start makes custody choice a technology bet
Schwab's Anthropic deal brings scale and a $240 seat; Altruist's lead is measured in years, and firms switching now are already choosing sides.
Merrill sells the map while advisors get paid in equity
The same book now trades in two markets, and only one of them seats the advisor who built it.
3 stories
A $425 million team prices independence against the employee channel
Winstone's exit gives advisors weighing independence a benchmark: platform equity and a license to buy, set against what the employee-channel seat pays.
Merit's $888 million Commonwealth hire was paid partly in equity
Equity in the buyer is the package line that decides whether a breakaway keeps compounding after the signing.
The OSJ left LPL. The $825 million book stayed.
Gateway Financial Partners picks up a group that kept its LPL affiliation by changing supervisors, not platforms.
3 stories
Morgan Stanley raises the growth bar and bids for its own succession
The first 2027 wirehouse plan lifts production hurdles 10% and prices a 30-year advisor's exit above the top of its own payout grid.
Ameriprise's $1.3B exit is a custodian decision, priced at 25 basis points
The Minneapolis team kept its clients and its fee schedule; everything else it now rents from one custodian.
Osaic's rebuild starts with the advisors it still has
More than a thousand registered reps left in the year consolidation ended, and the terms a sitting Osaic advisor can still negotiate are the part of the story that pays.
2 stories
28 advisors kept an $825 million book by staying put
An OSJ's move reprices the practices inside it; the advisors who stayed just published the math for everyone else.
Merrill recruits again while Morgan Stanley makes a capacity pitch
Two wirehouses spent the same week describing opposite hiring strategies, and the difference tells advisors where a transition check is still on the table.
2 stories
The UHNW recruiting pitch has stopped leading with the check
NewEdge's 22nd office adds $1.25 billion in client assets and eight people to a platform built for multi-generational books.
Six Modern Wealth advisors left as it acquired $710 million in assets
Consolidators can buy a book; the week showed they cannot buy the advisors who run it, and the recruiting market is repricing on that difference.
1 story
A UBS team ran the LPL math and chose Raymond James
A two-year search that weighed Rockefeller and LPL ended at Raymond James' employee channel, the clearest recent test of West Coast recruiting economics.
2 stories
IBKR pitches RIAs with a fee page and a promise
The no-fee policy is the right answer to a custody market edging closer to the client; the service record behind the promise is still unproven.
Banks' upstream push hands RIAs their next breakaway wave
Fee hikes and routing rules turn mass-affluent advisors into RIAs' next recruiting class—if the destination firm can serve the clients.
3 stories
Rockefeller's double raid puts a price on the cap table pitch
Two teams carrying $950 million left Stifel and Morgan Stanley for Rockefeller, the latest evidence that advisors now price platform ownership above retention dollars.
LPL's Merrill breakaway profile omits the economics
The release confirms a 17-year Merrill veteran chose independence, but offers none of the numbers an advisor would need to model a similar move.
Raymond James hires Schwab custody veteran for client experience
For advisors weighing hybrid platforms against independent custody, the hire tests whether relationship quality, not payout grids, decides the next platform competition.
2 stories
Platform breadth is the new mid-market affiliation test
A five-adviser Wisconsin firm with Medicare and benefits desks is putting the independent-network choice to a sharper test.
Aquiline's Flourish deal makes sweep revenue share a boardroom question
The platform's cash-sweep economics, built on disclosed revenue splits with Carson, Mariner, and Focus, now sit under a private equity owner
1 story
&Partners' seventh Wells team makes boutique RIAs a credible counteroffer
The $838 million Crown Legacy move is small next to the wirehouse's own wins, but a year of serial departures backed by equity and platform capital tells a different story.