Recent industry movement and recruitment activity.
New Jersey brokers are the second team to join LPL’s Strategic Wealth Services channel aimed at brokers from large employee-model firms.
Cheryl Vozzella, a Bank of America and Merrill Lynch veteran, has taken the reins of a Morgan Stanley branch in Boston with more than 100 advisors producing about $200 million in revenue.
The high-net-worth division of Raymond James nabbed UBS broker who oversaw $110 million of client assets, while a wirehouse veteran in the Midwest who was with Wells for almost 15 years went independent with Ameriprise.
Nebraska-based OSJ said it moved in part over concerns about its former firm’s recent purchase by private equity-controlled Advisor Group.
The move is the third within a week that the Royal Bank of Canada unit confirmed amid the chaos of the coronavirus crisis.
LPL’s ‘Strategic Wealth Services’ platform provides more operational support at slightly lower payouts to advisors than its conventional offering.
The wirehouse team is at least the second to join RBC in Wisconsin this year, following a $1.8-billion former Merrill Lynch team that joined in Green Bay in February.
A veteran Texas independent advisor changes broker-dealers, a Merrill duo in Indiana affiliate with Oregon-based RIA.