Karmen Alexander

Regional broker-dealer Janney Montgomery Scott has opened an office in Houston with the hiring of a team managing $3.3 billion in assets at Raymond James & Associates, according to an announcement.

The Georgia Court of Appeals last week vacated a preliminary injunction against Osaic Wealth and a West Virginia-based team that was accused of raiding a Primerica Financial Services branch.

James Costabile, who joined Osaic from LPL with his firm ICG Next.

Kenneth Hullings, who will lead recruiting at LPL starting in November.

LPL Financial has promoted 21-year company veteran Kenneth Hullings to lead advisor recruiting, effective November, according to an internal memo. Hullings, previously head of institutional client success, will oversee recruiting across LPL's core independent business and newer affiliation models, including Strategic Wealth Services and its employee-advisor unit. He succeeds Scott Posner, who stepped down in June after leading business development since 2018. The appointment follows LPL's focus on retaining advisors from its Commonwealth Financial acquisition. LPL spent $142 million on transition assistance in the second quarter, up nearly 60% year over year.

Stifel Financial Corp. Chief Executive Officer Ron Kruszewski. Photo credit: Bloomberg.

Merrill Lynch is keeping its core compensation grid unchanged for 2027 but is raising the bar for brokers to qualify for its growth award.

Shawn L. Bernhard, who joined RBC on Tuesday as director of its Texas South market.

Linda A. Patel, who joined J.P. Morgan Advisors has head of its Southeast region.

As rising markets have propelled revenues and increased assets, Wells Fargo Advisors on Wednesday raised its core pay hurdle for advisors for the first time in five years.