1. A more profitable and adaptable payout model. Advisers at the full-service firms often complain about how their payouts can change and production targets can be adjusted. However, that flexibility allows their firms to weather transitions in a rapidly evolving landscape. LPL and their ilk, with their 90% payouts and independent contractors, simply cannot pivot rapidly enough. If advisers’ revenue drops because of the loss of commissions, one firm can change payout structure, the other takes a direct hit to their bottom line.

Source: The DOL rule kicks in. Will independent broker-dealers survive?

The largest of Stifel’s new hires comes from Oppenheimer. The team, known as PearlStreet Investment Management, opened a new office for Stifel in Ada, Mich., a suburb of Grand Rapids. They manage more than $600 million in fee-based client assets and also have an institutional retirement plan practice that is responsible for more than $5 billion in retirement plan assets, of which $3.3 billion was custodied at the firm, according to Stifel.

Source: $3.9B team joins Stifel | On Wall Street

“We could see more insurance broker/dealers go by the wayside, while those companies really concentrate on their core competency in manufacturing those policies and annuities,” said Bill Butterfield, senior analyst of the wealth management team at Aite Group.

Source: Does the MetLife Deal Signal the End of the Insurance Agent?

Team members Steve Saylor, Matt Moreman, Jason Heaton, Kathi Law and Preston Saylor joined the employee side at Raymond James in The Villages, Fla., a retirement community about 60 miles north of Orlando. They will operate as Saylor Moreman Heaton Wealth Management.

Source: $2.7M Team Leaves Merrill Lynch for Raymond James | IAG Breaking News

Raymond James hired four advisors who managed nearly $400 million in combined client assets, the firm said.The new hires, who left Wells Fargo and Davenport & Company, joined Raymond James in two offices in Raleigh and Smithfield, N.C.The advisors had over $2 million in annual fees and commissions, according to Raymond James.

Source: Raymond James Hires $2M Team | IAG Breaking News

Under the new rule, firms onboarding clients of a recently recruited advisor must disclose to investors whether the recruitment bonus or other compensation received by the advisor creates a conflict of interest. Further, the information must also outline any costs associated with transferring client accounts to the new firm and the potential differences in products and services offered at the new b/d.

Source: FINRA Seeks to Mitigate Broker Recruitment Conflicts

Advisor Ed Lancaster and his sons, Mike and Dave, joined Raymond James in Cypress, Texas, a suburb of Houston.The team managed more than $160 million in client assets, according to Raymond James.

Source: Raymond James Grabs $1.5M Team From LPL | IAG Breaking News

Three other recruits went over to the independent side at Ameriprise. Former Raymond James advisor Scott Husnick of Amery, Wis., oversaw $143 million in client assets prior to making the move, according to Ameriprise’s spokesman. Buzz Minton, formerly with LPL and based in Altoona, also in Wisconsin, had $72 million, the spokesman said.

Source: Advisors With $415M Combined AUM Join Ameriprise | IAG Breaking News