The Canadian bank has acquired a family office based in St. Louis and New York. 

Edward Jones has traditionally measured its growth by the number of advisors on its platform; now it wants to focus more on growing clients’ assets by expanding its services.

The team, with $300 million in client assets, has formed StrongBox Wealth and partnered with Dynasty for back-office services.

The team, from Tucson, Ariz., was attracted to the broker/dealer’s connection with clients, something the big firms are lacking.

Conventional wisdom says that 'Old Guard' financial advisors from established Wall Street firms like UBS, Morgan Stanley, Merrill Lynch and Wells Fargo are doomed when it comes to the great wealth transfer soon to fall to the millennial generation.

As big wirehouse teams become strong, self-sufficient “businesses,” they’re opting to jump ship and build their own firms.

The Investments & Wealth Institute is becoming less a home for wirehouse advisors, with independents accounting for the largest segment of its membership.

Parsons, a California team with $180 million in assets, joins Carson.

LPL transitioned all 33 advisors at Allen & Company, the previously announced acquisition that will seed its new employee model.

Deal volume in the RIA space is up 30% from last year, and “valuations are at an all-time high," said DeVoe & Company, the San Francisco-based consulting firm and investment bank.