Recruiting & transitions: archive
Every Recruiting & transitions story in Advisors, newest first. 87 stories
1 story
LPL cuts Commonwealth retention forecast to 83%
The reduced forecast implies about $51 billion of Commonwealth client assets would leave before the mid-November conversion.
1 story
Recruiting scoreboard: Charles Schwab leads August asset growth among public wealth firms
Month-end client assets, net new assets, advisor counts and recruited assets for Charles Schwab, Raymond James and Stifel, from each firm's own SEC filings.
1 story
Merrill to add targeted 2027 advisor bonuses, keeps core grid
Financial Planning reported the firm will hold its basic compensation grid in place while seeking to boost recruiting.
1 story
Wealthcare, Mariner pitch 1099 affiliation to advisors fed up with Form ADV work
Matt Regan and Rob Sandrew said solo advisors are weighing platform support against keeping their own Form ADV registration.
3 stories
Elevation Point takes minority stake in $750M UBS Las Vegas breakaway
Truing will run under Elevation Point's corporate RIA and custody client assets with Goldman Sachs Custody Solutions.
BofA cuts Ameriprise to Underperform, citing advisor exits and retention loan costs
Analysts lowered their price target to $445 from $570; shares fell 4.07% after BofA cut the rating Monday.
ICG next leaves LPL for Osaic with $2.3 billion and acquisition plans
The Wall Township, N.J., firm launched at LPL in 2019 and now has about 21 advisors; transition payments and payout terms were not disclosed.
2 stories
Ameriprise adds three RBC teams with $1.2 billion; Wells Fargo adds $900 million
The RBC teams cited Ameriprise's technology platform and planning capabilities; Raymond James added a $245 million UBS team in Paramus, New Jersey.
Rockefeller hires $1.2 billion Truist team in Naples, Florida
The Kellam Group produced $7 million in revenue on $1.2 billion of client assets, per a source familiar with the move.
1 story
Schwab Advisor Services net new assets rise 47% in Q3
CEO Rick Wurster drew a contrast with Fidelity after Fidelity told sub-$100 million custody clients to move by June 2027.
3 stories
State Street launches Apex-powered RIA custody unit for $1 billion-plus RIAs
The Boston bank is targeting RIAs managing more than $1 billion with the service, re-entering a custody business it left five years ago, RIABiz reported.
Eight Raymond James brokers register $1.4B RIA, keep custody at firm
Seven of the eight advisors are keeping brokerage licenses through Kingswood Capital Partners while the new firm will continue to custody with the St. Petersburg, Florida-based firm.
Wirehouse recruiting packages reach up to 425% of revenue, Diamond report says
The first-half transition report counted 932 experienced-advisor recruits against 1,449 departures at the four wirehouses.
1 story
Indivisible, launched by former Merrill executives, adds $1.1 billion RBC team in Baltimore
The group, operating as Rosenwald Private Wealth, is at least the ninth practice to join Indivisible since its early-2025 launch.
4 stories
BNY Pershing retires Wove and shifts RIA platform reset to Adam Vos
RIABiz reports the successor platform has no name and describes Adam Vos, Pershing's new RIA head, as unproven in custody.
Fidelity plans $100 million RIA custody minimum with June 2027 deadline
Rival custodians are already competing for the few hundred firms below the planned $100 million threshold, up from $15 million, Kitces reports.
Diamond report puts employee-model recruiting packages at up to 425% of revenue
The first-half transition report counted 1,449 experienced-advisor departures against 932 recruits across the four wirehouses.
Advisors under Fidelity's $100 million custody minimum face months of repapering
Brad Wales says the June 30 deadline allows enough time for a three-phase move, but advisors should not wait to start repapering.
3 stories
Goldman COO John Waldron could become chief executive in January, RIABiz says
RIABiz, citing press reports, says Waldron oversaw the Folio Institutional acquisition and the Creative Planning custody deal.
Orchard Financial Group, a $580 million Ameriprise team, joins Wells Fargo's FiNet
The Los Angeles team produced $4.3 million in annual revenue and brought three additional advisors and four support staff, a spokesperson for the hiring firm said.
Big four wirehouses lost a net 517 experienced advisors in first half of 2026
Merrill, Morgan Stanley, UBS and Wells Fargo are the four firms in Diamond Consultants' count, which already tops the 302 they lost in all of 2025.
2 stories
Fidelity says a few hundred advisory firms face its $100 million custody cutoff
Affected firms hold less than 1% of the $5.8 trillion Fidelity administers across 3,300 RIAs, family offices and broker/dealers.
Betterment waives custody fees through Dec. 31, 2028 for RIAs transferring from Fidelity
The offer has no asset minimum and a June 30, 2027 sign-up deadline; Fidelity set a $100 million threshold for staying on its platform.
3 stories
Small RIAs weigh joining a network to clear Fidelity's $100 million minimum
Advisory Services Network, which already clears Fidelity's bar, says firms have asked to join; an analyst warns the scale benefit depends on how an aggregator files.
Rise Private Wealth Management is Schwab's fourth large Ameriprise breakaway of 2026
The Bedford, N.H., firm's ADV filing surfaced a near-$8 billion move Ameriprise has confirmed; neither Schwab nor Dynasty announced it.
Fidelity tells sub-$100M custody clients to move as Schwab stops short of a promise
The threshold counts assets held at Fidelity rather than total firm AUM, and Schwab cites the 11,000 micro-practices it already serves while stopping short of a promise.
3 stories
Fidelity gives sub-$100M RIAs until June 2027 to find a custodian
The threshold counts assets held at Fidelity, not total firm AUM, and the notice went directly to affected firms.
Concurrent acquires Spire, a $5.4 billion RIA with 30 advisor teams
Spire's advisors keep their own brands as independent contractors, and both advisors and employees become eligible for Concurrent equity after a year.
Lakewood Wealth's $170 million Ann Arbor team moves from Cambridge to LPL
The three-adviser book spans advisory, brokerage and retirement plan assets; the announcement does not disclose transition terms.
2 stories
A $1.3 billion UBS duo joins Ascend Advisory Group in Dublin, Ohio
Jeffrey Cullman and Bruce Holt join a Dublin, Ohio practice that held $2.5 billion as of December, while the hiring report cites their team at both $1.3 billion and $1 billion.
Rockefeller adds Truist's $6.2 million Piedmont Wealth Partners team in Charlotte
The $1 billion team's three principals all came to Truist through the BB&T side.
2 stories
Most remaining Wells producing managers told to pick clients or management
A source says they must decide by October 1; Wells says the move fits a shift toward larger, higher-producing branch complexes.
UBS hires Merrill's John Pham and Jimmy Yip below $10M production minimum
The pair produced $7.5 million against the $10 million bar for a 16-year package paying 550% of revenue, on a book sources put at $575 million to $1.2 billion.
1 story
UBS hires Merrill’s John Pham and Jimmy Yip, a $7.5 million Silicon Valley team
The pair’s $7.5 million production fell short of the $10 million minimum for a 16-year offer paying 550% of revenue, while sources put the book between $575 million and $1.2 billion.
1 story
UBS's digital hire is a book-transfer play
The platform build Naureen Hassan is leading will set two prices for UBS's 6,000 brokers: what a team costs to recruit and what a book is worth at retirement.
1 story
Ameriprise pays advisors to stay, and prices the exit
Retention cash arrives once and is taxed once; the RIA equity it now competes with gets priced by the next transaction, and Ameriprise's own CEO has already written the test for which payment survives.
2 stories
UBS freezes the grid and bets stability beats a check
As Morgan Stanley raises thresholds 10% and Cresset pulls a $4 billion UBS team, UBS's 2027 plan bets a compounding annual payout can beat an upfront check.
UBS holds the grid and prices what leaving costs
An unchanged 2027 payout grid and a funded 25% growth bonus leave UBS advisors comparing a cash advance against a repayment obligation — and force competing RIAs and recruiters to quote the whole move.
2 stories
Schwab's fourth Ameriprise raid reprices the breakaway math
Four teams and $10 billion or more out of Ameriprise this year make the Schwab-Dynasty playbook the template for any advisor weighing independence, custodian and package structure at once.
Altruist's AI head start makes custody choice a technology bet
Schwab's Anthropic deal brings scale and a $240 seat; Altruist's lead is measured in years, and firms switching now are already choosing sides.