The wave of wirehouse advisors leaving to join regional and independent firms has not ceased.
Financial advisors collectively managing $5.6 billion migrated to new firms that they say offer them higher pay and greater flexibility. Moves to regional firms were also motivated by concerns regarding the Broker Protocol, according to On Wall Street’s
latest roundup of career moves.
Raymond James picked up multiple teams from wirehouses like Wells Fargo and UBS, the latest in a trend of aggressive hiring. In addition, Raymond James also added new offices in its Tampa Bay complex.
Stifel also snapped up new talent from rivals such as Ameriprise and Wells Fargo. Advisors that managed over $500 million joined the regional firm in Flint, Michigan, Clayton, Missouri and Overland Park, Kansas.
Scroll through to learn more about these advisor moves and others. For a look at our previous roundup, click here.