Three big acquisitions in less than a year signals renewed life in the formerly beleaguered industry.
Goldman is paying $750 million for the RIA aggregator, according to one source.
Private equity buyer would grab a 75% stake in IBD network that produced $1.7 billion in revenue last year and has nearly 11,800 advisers.
The aggregator reported 24 transactions either pending or closed so far this year.
The B-D network produced $1.7 billion in total revenue last year.
The two advisers left Credit Suisse after the company announced it was closing its U.S. brokerage operation.
Clients allege lack of suitability and due diligence by B-Ds.
RIA consolidator fills senior marketing and practice management spots.
At meetings this year, LPL is talking up its ability to finance advisers' growth.
As some wirehouses hire more salaried advisers, speculation mounts that the traditional way of compensating brokers is being threatened.
