Some advisers have decided to switch firms in order to continue offering clients commission-based retirement accounts.
Merrill Lynch, which announced plans to cease offering such accounts as part of its efforts to comply with the fiduciary rule, has lost several teams to Morgan Stanley, Raymond James and HighTower, totaling at least $890 million in assets under management.
However, Merrill was also the beneficiary of several moves. A former Morgan Stanley team team with $343 million in AUM recently jumped to Merrill Lynch.
In other moves, J.P. Morgan Securities lost a team that oversaw $829 million to Morgan Stanley.
Scroll through to learn more about these adviser moves and others. For a look at our previous roundup, click here