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Last week saw a massive industry move — one that Merrill quickly characterized as a “pre-meditated corporate raid.” Advisors managing $129 billion (yes, billion) in client assets at the brokerage left to launch their own Dynasty Financial Partners -affiliated firm; sparking a suit from Merrill and a speedy legal response from ex-Merrill advisors, who say that not only did they pay Merrill millions for their book of business, but the brokerage had failed to invest in them for years.
READ: $129B ex-Merrill team rejects ‘corporate raid’ claims in court filing
Speaking of Merrill, it’s the latest brokerage to announce its 2026 pay structures for advisors. (If you missed it: This year UBS was first out of the gates with its changes, then came Morgan Stanley with its update.)
READ: Merrill trims small household payout while staying course on comp
Winning clients who have fatter pocketbooks that can boost a firm’s assets under management is not a new strategy. But new programs from J.P. Morgan , Merrill Lynch and Edward Jones take novel approaches to that goal — read about how the firms are targeting ultrarich clients with specialized services and branch offices.
READ: Merrill, JPMorgan pursue UHNW clients with jet services, custom lending
Younger advisors often face questions from potential clients who worry they lack the experience necessary to do their job well. Sometimes new advisors’ own self-doubt about their abilities is the problem. Either way, experts say there are strategies to build trust and get past the idea that those without many years experience aren’t good at their jobs.
READ: How young advisors can build client trust
What are the “key growth steps” for independent advisors who want to expand their business? After surveying hundreds of Wells Fargo FiNet advisors, Deloitte analyzed the findings and came up with some answers. The survey also pointed to seven questions that growth-minded firms should be asking and answering for themselves if they’re aiming to scale.
READ: The building blocks of fast-growing independent advisory firms
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