Moody’s assigned a B2 rating to the notes and changed its outlook on the firm from stable to positive, saying the benefits of higher interest rates will offset the additional debt.
The brokerage’s head count dropped a slight 1%, primarily due to Steward Partners moving out of its b/d; the RIA continues to custody assets with Raymond James.
The percentage of advisors 'at risk' of leaving their firms is up from last year, and J.D. Power says firms need more advisors who will actively promote or recommend their brand to colleagues.
As we see the commoditization of custody, what other services are custodians providing to RIAs? Steve Earner, head of LPL Financial’s RIA platform, addresses the topic.