Citing the global pandemic and its economic consequences, Florida-based firm outlines plans to cut costs broadly to generate “significant efficiencies.”
Morgan Stanley gains Chapel Hill, N.C. team managing $250 million, loses one managing $680 million in the same branch to Stifel, Nicolaus.
UBS brokers in Ohio, Florida and Maryland collectively managing about $850 million of client assets leave for firms affiliated with RayJay, Wells and Kestra.
Private client group assets at big regional jumped 4% in May from previous month and by 8% from a year ago on market appreciation and new brokers.
A 40-year wirehouse veteran in Pittsburgh anticipates better client-outreach technology as a Dynasty-supported RIA while a veteran Merrill broker in Idaho managing $525 million says he’ll have more freedom within Raymond James’s employee channel.
Steward, which has recruited primarily from wirehouses, lures independent brokers from Advisor Group to its new “affiliate channel” with an alternate payout plan.
Raymond James Financial Inc. said it fired an employee after a video captured him and his wife in a confrontation with a man stenciling “Black Lives Matter” in chalk outside his own San Francisco home.
Indianapolis-based Sanctuary, founded two years ago by a former Merrill divisional manager, finds recruiting success targeting its roots.
The expanding New York firm led by former wirehouse executive Greg Fleming nabs its first Houston advisor and also on Friday hired a $1.5-million broker in Atlanta from Morgan Stanley.