Jan 08, 2021

Here are the breakaways, mergers and acquisitions announced the week of January 4, 2021.

Thrivent Advisor Network Joins the Broker Protocol

Jan 08, 2021

Thrivent Advisor Network is now a member of the protocol, which allows departing advisors to take certain customer information and solicit customers regardless of whether they had agreements that expressly prohibited such conduct.

Wells Fargo Advisors to Exit All International Business

Jan 07, 2021

Wells Fargo advisors will no longer be able to service clients abroad, according to a company memo.

After A Win Down Under, Connectus Heads to the UK

Jan 07, 2021

The Focus Financial RIA acquired Watterson Financial Planning, establishing a foothold in Great Britain.

Integrated Advisors Network Builds Out Pathway for Breakaways

Jan 07, 2021

RIA support platform Integrated Advisors Network has acquired consultants ReDefine Independent Advisors in an effort to build out a more dedicated offering for breakaway wirehouse advisors.

FINRA Postpones In-Person Arbitration, Mediation Until April 2

Jan 07, 2021

The agency has continued to push back the resumption of physical arbitration and mediation proceedings because of COVID-19, though hearings can be held via teleconferencing or Zoom.

Captrust Buys $3.29B RIA MRA Associates

Jan 07, 2021

With the acquisition of MRA Associates, Captrust can now offer income and estate tax compliance and consulting services, a new offering for its clients.

Ten Trends to Impact Wealth Management in 2021

Jan 07, 2021

Among the biggest developments set to influence advisors’ businesses this year include consolidation among wealth management firms, the rise of ESG investing, a renewed focus on prospecting and changes to advisor compensation models.

LPL to Pay FINRA $6.5M for Supervisory Shortfalls

Jan 06, 2021

The lapses in record retention, fingerprinting and failing to oversee the drafting of consolidated reports led to 1.5 million costumer communications being deleted and a former rep running a Ponzi scheme, FINRA claimed.

Mercer Advisors Picks Up Georgia Firm and Forms a Southeast Juggernaut

Jan 06, 2021

Veteran Scott Kays' $800 million fee-only firm is on the larger side for the acquisitive Mercer, suggesting the national RIA may start looking at more mid-sized targets.