Record Recruiting Quarter For LPL
Exciting things are happening over at LPL. While many of their industry peers are hiding their broker headcounts in their quarterly reports, LPL is taking the opposite approach and highlighting theirs. The firm is boasting another record quarter for recruiting, ending Q2 on a high note. LPL, the largest independent broker-dealer, hit a record number […]
Three Steps to Take When Your BD Has Been Acquired
M&A activity in the advisor space has reached a feverish pace of late, leaving many advisors who are part of a firm being acquired with a critical question: “Do I go to the acquiring firm, or do I explore other options?” While the tendency may be for an advisor to think they must, or should, […]
Bank of America Gift Wraps Another Reason For Big Teams To Bail On Merrill Lynch
Just in case you’ve been living under a rock, Bank of America just got caught ‘pulling a Wells Fargo’; opening accounts on behalf of customers without their permission. Merrill Lynch has been every wirehouse and independents pipeline for the past five years, and this news isn’t going to slow that down. In a decisive move […]
What the Twitter Rebrand Can Teach Advisors About Transitioning
Though numbers have been waning since Elon Musk’s acquisition of the social media company at the tail end of 2022, 300+ million users experienced a significant change to their beloved app – it’s no longer called Twitter, it’s simply called “X”. We’ll avoid any comments on the weirdness of this choice and instead focus on […]
Morgan Stanley Feasted On First Republic Demise; Despite Lower Upfront Payments
At some point being one of the worlds largest, deepest, and arguably most integrated global bank and wealth manager makes a difference. That difference was clear in the midst of the regional banking crisis at First Republic specifically. Morgan Stanley, which remains the ‘real’ Wirehouse leader in advisor headcount here in the US. (**no it […]
New Merrill Lynch Leadership Duo Masks Years Long Attrition Problem By Hiring Rookies (nearly 800 a year)
As the old football saying goes, “If you have two quarterbacks, you don’t have THE quarterback you want.” That seems to be the case with Merrill Lynch’s new leadership duo, Eric Schimpf and Lindsay Hans. And true to form (and probably why they were selected) they’ve gotten a headstart hatching a scheme to properly hide […]
Defining Your Why Ahead Of Selling Your Practice
You’ve put a lot of time and effort into building your practice. So, when the time comes to sell, it’s essential to approach the process with a clear understanding of your motivations and goals. Before putting your business up for sale, it’s important to define the “why” behind your decision. What are your reasons for […]
Too Busy To Transition?
We’re in the throes of summer now and many other things besides your next career step are likely taking precedence, but should they? Offers are still high, technology differences between firms is widening in some cases, your clients product and servicing needs are changing…in fact, now might be exactly the right time – but how […]
RIA Consolidation Fueled By Private Equity Set To Continue
According to a recent report by Cerulli Associates, the consolidation trend within the registered investment advisor (RIA) industry is expected to continue gaining momentum, fueled by private equity investments. Despite a temporary slowdown, industry experts believe that the influence of private equity in the RIA space will persist as investors recognize the benefits of scale […]