IBDs saw decent year in 2020 wirehouse recruiting
Independent broker-dealers saw gains in recruiting coveted wirehouse advisers despite the massive disruptions caused by COVID-19. Firms are also building out registered investment advisory platforms to lure advisers.
January 18, 2021 2 MINS
Independent broker-dealers last year continued to make inroads in recruiting the most valuable financial advisers and registered representatives of all those who work at the four large wirehouses: Merrill Lynch, Morgan Stanley, UBS and Wells Fargo Advisors.
Wirehouse advisers are the highest producing in the industry; on average the generate in the neighborhood of $1 million per year in fees and commissions. Advisers at independent broker-dealers, so-called because they are employed as independent contractors rather than employees, on average generate one-quarter to one-third that amount of revenue.
Bluespring Wealth Partners Acquires $500+ Million Bedell Frazier Investment Counselling
Bluespring Wealth Partners Acquires $500+ Million Bedell Frazier Investment Counselling Bedell Frazier is a high-growth, fee-only registered investment adviser (RIA) with over $500 million in assets under management. The firm is led by a dynamic young leadership team with over 55 years of combined industry experience, including President and CEO, Mike Frazier, Chief Operating Officer, Meredith Rosen and Chief Investment officer, Mike Harris. Bluespring Wealth Partners investment in Bedell Frazier will provide the team with both access to capital and deep industry know-how to fuel growth and continued innovation in client service. Bedell Fraziers team will leverage Bluespring Wealth Partners back-office support and operational insights to afford its leaders more time with their valued clients.
New Jersey-Based O Keeffe Financial Partners Chooses Kestra Financial businesswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesswire.com Daily Mail and Mail on Sunday newspapers.