LPL Financial

Firms that haven't been afraid of generous recruiting offers have shown the greatest growth in recent years.

LPL accuses its rival of hindering "competition in the financial services space" through its "cynical" attempts at frightening advisors into staying put.

The Atlanta-based independent broker-dealer thinks some advisors will always feel ill at ease at big firms that keep getting bigger. That's where it sees its opportunity.

The partners at Pilot Financial have been through only one acquisition in their firm's history — the recent sale of Lincoln Financial's wealth groups to Osaic — and they're not eager to repeat the experience.

Despite the apparent decline, the independent broker-dealer giant remains one of the leaders in advisor recruiting and merger and acquisition deals.

Higher expenses from the record headcount of financial advisors and a continuous stream of recruits and acquisitions are investing in the firm's future earnings, though.

The wealth program at Kinecta Federal Credit Union is changing brokerage, RIA and custodian as the industry fights for recruits of all sizes in the channel.

Kinecta Wealth Management, the wealth arm of Kinecta Federal Credit Union, will switch firms by the end of the year.

The firm may pursue its claims through an administrative office at the agency after agreeing with the federal government to dismiss its case.

Matthew Edwards changed his firm for the first time in his 25-year career when he launched an independent advisory firm under a new brokerage, RIA and custodian.