The combined firm will have 100 employees and be headed by F2 founder Doug Fritz.

But most are still stuck in silos and old business models.

Former Credit Suisse wealth management head Francesco de Ferrari remains as an advisor to UBS’s private banking head Iqbal Khan.

The commission's warnings are the first following the date firms were expected to be in compliance with the rules.

Cetera announced its first nonhybrid RIA acquisition this week, while Hightower and Wealthspire both added a billion dollars in assets and Mercer, Kestra and tru Independence all announced deals.