Advisor Group will merge its eight broker/dealers onto one platform, under a new name, in an effort to reduce complexity, streamline around business channels, and unlock the benefits of its size and scale.
Wirehouse advisors are more likely to be unhappy with their compensation than those in other channels, saying the packages are too complex and change frequently, according to a new Cerulli report.
Baseline recruitment deals were up last year, even among the independents, and many firms are getting more creative with their deal structures to incentivize movement, according to a recent Diamond Consultants report.
Recruited away from Wells Fargo, Carnegie Private Wealth is the largest team yet to join LPL’s SWS division, the IBD’s premium affiliation model that went live in April 2020.
Mercer CEO Dave Welling says the new brokerage will help it better serve prospective clients and M&A prospects with long-standing commission-based assets at outside broker/dealers.
Service platform NewEdge plans a pivot to acquisitions with a focus on buying the practices of younger, growth-hungry advisors who will then buy and manage firms of retiring advisors in their own regions.
