Broker-Dealers
Wells Fargo Captures $500 Million In Michigan AUM
Wells Fargo has been busy recruiting in the wealthy Detroit suburbs -- and one of the teams on the move comes from the independent channel.
Merrill Lynch Drops A Net $200 Million In Advisor Recruiting Shuffle
In the latest round of advisor trades, Merrill Lynch gained talent that previously managed $800 million, only to lose advisors with a full $1 billion on their books.
Ex-LPL Transition Team Goes Independent As Recruiters
A squad of former LPL recruiters has decided to practice what they preach and start an independent practice.
Morgan Stanley Finds A New Manager For Its Scandalized Philadelphia Operation
Months after the mysterious firing of Philadelphia complex manager Frank LaRosa, Morgan Stanley has found someone new to take his place.
Across Just About Every Metric, LPL Outperformed Last Quarter
Wirehouses and discount brokers struggled to bolster their books last quarter, but LPL -- leader of the independent broker-dealer channel -- grew just about every aspect of its business.
LPL added 106 new advisors and $10.7 billion in AUM to its book last quarter.
On average, the network's 12,660 reps now run about $700,000 apiece more in client funds than they did three months ago.
Part of that is due to LPL's ability to successfully recruit slightly bigger advisors, but unlike other brokerage firms we've seen so far this quarter, the main driver h
More Articles ...
- UBS Staffs Up, But AUM Shrinks Anyway; Still Not For Sale
- Commonwealth, Cambridge Capture Securities America Advisors Generating $24 Million A Year
- $500 Million Brothers Jump From Morgan Stanley -- Or Rather, From The Old Smith Barney
- Rich Compensation Packages Keep Morgan Stanley Profit Margins In Check
