Wells Fargo is 'actively' preparing RIA custody unit, ...

Wells Fargo & Co., with a critical advantage – it's an RIA custodian, almost – is going where other wirehouses have tried and failed -- to capture a piece of the $9 trillion advice channel.

First generation RIA CEOs, pioneers and other bigshots are leaving jobs or scaling back roles – and sometimes in bunches – signaling a palpable, if gradual, shift in RIA leadership.

Nachiket Shiralkar checked out of Altruist and checked into Hotel Engine, but not before leaving the emerging RIA custodian with a brand known for its digital technology.

Focus Financial Partners has the Moody's blues because its plan to create three mega RIAs out of 90 smaller ones will come at a cost.