Just a couple of months ago, RCS Capital Holdings chief Nicholas Schorsch was saying that senior management would stay in place at the five different independent broker-dealers that he’s recently acquired.But it looks like he’s already making changes.RCS announced one shuffle this week, bringing in Kevin Keefe — executive vice president of Advisor Group, and head of its corporate RIA — as president of First Allied, running broker-dealer operations. Keefe replaces Adam Antoniades, who will remain at the firm as CEO of First Allied Holdings, the IBD’s parent company.

via First Allied Taps Kevin Keefe to Replace Adam Antoniades | Financial Planning.

Two former wirehouse advisors that managed more than $80 million in client assets have left Wells Fargo to join Raymond James & Associates, the firm’s traditional employee/broker dealer.The advisors David Neunuebel and Lisa Barrantes had annual fees and commissions of approximately $950,000 while at Wells Fargo. Together with client associate Lynne Ming, they will open Raymond James’ newest office in Santa Barbara, Calif.

via Raymond James Reels in Team With $80M AUM From Wells Fargo | On Wall Street.

A former wirehouse advisor team with $350 million in assets has left Wells Fargo to join RBC Wealth Management-U.S.The Krinsky, Eidson and Doege team join RBC’s office Leawood, Kan., a suburb of Kansas City. The team has $1.8 million in production and will report to branch director Mark Borcherding, according to the company.

via RBC Recruits Veteran Advisors With $350 Million AUM | On Wall Street.

Merrill Lynch has scooped up two advisors with $3 billion in assets under management from rival wirehouse giants UBS and Deutsche Bank.  Howard Rowen and Halsey Smith joined the Merrill Lynch Private Banking & Investment Group’s Los Angeles office on April 9.The transition so far has been relatively smooth, but that’s not to say it’s an easy thing to do. Transitions are often “a little bit of a knife fight,” Smith says. “It’s a blood sport – it’s a mad dash to get those clients to stay and we’re trying to do the opposite, trying to get them to come join us at Merrill Lynch.”And so far the team has been successful in bringing many of their clients over. “It’s wonderful, it’s competitive, it’s a challenge,” he says. “And what we’re finding is that clients are coming over.”

via Merrill Lynch Snags $3 Billion Team | On Wall Street.

When advisors talk about why they’re unhappy with their firm, they will often tell you that it’s “not about the money.”  Instead, they commonly cite a lack of shared values, slow or no decision making and concern for the shareholder at the expense of the client.But while money may not always be their number one reason for deciding to go elsewhere, it almost always becomes an emotionally charged and critical consideration. So let’s talk about it.When planning a move, there are three financial elements that need to be taken into account: capital, cash flow and equity. Advisors need to consider all three to get an accurate picture of their new deal and to decide whether it’s one they should take.

via Advisors Beware: Do the Math Before Leaving Your Firm | On Wall Street.

Advisor Ileana Platt has left Barclay’s Bank, where she produced more than $2 million in annual revenue, to join RBC Wealth Management.Platt is taking an advisor position in RBC’s Miami office as part of the firm’s International Advisory Group-USA. She has two decades of experience working in the financial services industry, having started at Citicorp in 1994, according to FINRA documents. She also worked at Credit Suisse’s Miami office from 2003 to 2012.

via $2 Million Producer Joins RBC From Barclays | On Wall Street.

As the average age of the adviser force continues to tick up over 50, firms are getting competitive to try and lure advisers on their way out of the industry.Many wirehouses and independent firms are sweetening their buyout deals and making it easier to enter their succession programs. On top of already lofty upfront recruiting deals, more and more top-producing advisers are considering making a transition as part of their retirement plan.

via Selling your book twice over.

Wall Street Bonuses Highest Since 2008Average bonus for securities industry in Big Apple tops $164,500, thanks in part to deferred compensationAverage Wall Street bonus paid to securities industry employees in New York grew 15%.The average bonus paid to securities industry employees in New York City grew 15% to $164,530 in 2013, according to the Office of the New York State Comptroller.Including both cash and deferred compensation, this is the largest average bonus paid out since the 2008 financial crisis and the third-highest on record. The average bonus in ’06 was $191,360; in ’07, it was $177,830.

via Wall Street Bonuses Highest Since 2008.