Dan Shaw

Net new assets surged at Charles Schwab in the second quarter, propelling the brokerage's total for client holdings past the $13 trillion mark.

As many older RIA clients withdraw assets to meet everyday expenses, firms are underemploying marketing and client referrals to offset the losses.

The Swiss banking giant sees its net new assets fall off again, largely owing to tax withdrawals, CEO Sergio Ermotti said. But ongoing advisor departures are also a culprit.

Whenever bank-based advisors consult him about changing firms, Scott Matasar makes sure they take one crucial step: adding their contact information to their resignation letters.

Client testimonials tend to carry a lot of weight in AI results for online searches for advisors. But most firms still aren't using them.

LPL Financial returned to recruiting form in the second quarter with a net headcount gain of more than 300 and steep increase in assets from advisors pulled in from elsewhere.

RIA owners may feel a "moral dilemma" when considering selling their firms to private equity-backed acquirers. But that didn't prevent PE involvement from reaching a record high in M&A deals in the second quarter.

Brokerages are too dependent on the billions they make every year from clients' uninvested cash, industry analysts say. LPL is responding with a long-term review of its pricing.

Among advisors changing firms, the prevailing trend is away from Wall Street mainstays and toward greater independence — but that path is not for everyone.

As many asset managers see a waning business in providing investment guidance to pension funds, endowments and other institutions, more are turning to financial advisors as their next big opportunity.