THE RECRUITING SCOREBOARD · NOV 2–8, 2026
| 01 | Morgan Stanley 3 teams in | +$15B |
| 02 | Cleros Wealth Partners 2 teams in | +$7.2B |
| 03 | Raymond James 2 teams in | +$2.7B |
| 04 | Cerity Partners 1 team in | +$1.2B |
| 05 | Osaic 3 teams in | +$1.0B |
In the week of Nov 2–8, 2026, the Financial ADVSR Moves tracker recorded 26 advisor moves with $31B in reported client assets and 20 firm deals. Morgan Stanley led recruiting with $15B in net reported assets across 3 incoming teams. Merrill had the largest net outflow, $16B. Between channels, wirehouses were net losers of 4 teams (−$8.2B).
THE BIG PICTURE
Recruiting money backs team moves, but its terms stay hard to compare
Ameriprise payment scrutiny, Stifel's loan dip and Schwab's referral minimum show the money behind moves is getting harder to read, not easier.
Sterling Park, Chief Analyst
MARKETS IN 5
Chip rebound lifts stocks as yields rise on jobs data
STOCKS
Chip stocks lift Nasdaq as indexes rebound from Thursday
RATES
Ten-year Treasury yield rises to 4.86% on jobs data
ECONOMY
October payrolls beat forecasts as unemployment fell to 4.1%
SECTORS
Chip index rebounds 4.2% after Thursday's 12.25% slide
THE FED
Fed held rates at 3.75%–4.00% in October by 10–2 vote
Miles Ashford, Markets Correspondent · Read it in five minutes
FROM THE NEWSROOM
Pittsburgh adviser admits impersonating Labor Department employee to target business owners
A Pittsburgh advisor pleaded guilty to falsely impersonating a federal employee while steering business owners toward hiring him, according to Justice Department and trade reports.
Nora Kessler, Practice & Technology Correspondent
Most large RIAs lack a named AI leader, Caddi research finds
Caddi research of 455 large independent RIAs finds only 42 have an AI or innovation leader, and those firms hire for AI tools more often.
Grant Whitmore, Moves Correspondent
Edward Jones headcount rises as branch network thins in third quarter
Edward Jones added a net 140 advisors and saw its branch count fall by 179 in the third quarter, as the firm shifts away from one-advisor offices.
Grant Whitmore, Moves Correspondent
Advisers divided as SEC weighs ending pay-to-play rule
As the comment period on the SEC's proposal to rescind the investment adviser pay-to-play rule nears its close, advisers remain divided between easing compliance burdens and preserving safeguards against political influence.
Theo Marsh, Regulation Correspondent
THE WIRE
DEALS · WEALTHMANAGEMENT.COM
Merchant Takes Stake in Elevation Point as Emigrant Exits
FINANCIAL PLANNING
Why prediction market winnings may come with unwelcome tax surprises
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WINTHROP & CO.
FORGIVABLE LOANS
Negotiating a forgivable loan: the terms that actually move
Forgiveness cadence, carve-outs, production thresholds and jurisdiction, in the order to ask for them.
READ THE ANALYSIS
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HEAT INDEX · 24 HOURS
1. Elevation Point 1 story
2. Schwab 1 story