|Firm||Story date (click to read full story)||Estimated reps (as of story date)|
|MCL Financial||June 15, 2011||44|
|WFP Securities||June 3, 2011||48|
|Omni Brokerage Inc.||June 1, 2011||50|
|Securities Network Inc.||May 24, 2011||N/A|
|Ensemble Financial Services Inc.*||Feb. 24, 2011||85|
|QA3 Financial Corp.||Feb. 11, 2011||400|
|Brewer Financial Services Inc.||Nov. 1, 2010||87|
|United Equity Securities LLC||Aug. 12, 2010||60|
|Great American Advisors Inc.||July 12, 2010||500|
|Chicago Investment Group||June 28, 2010||90|
|Jesup & Lamont||June 21, 2010||300|
|Cullum & Burks Securities Inc.||June 16, 2010||100|
|GunnAllen Financial Inc.||June 14, 2010||400|
|Okoboji Financial Services Inc.||May 28, 2010||20|
|MICG Investment Management LLC||May 12, 2010||40|
|AFA Financial Group LLC||Apr. 30, 2010||100|
|Nationwide Securities LLC||Apr. 1, 2010||200|
|Provident Asset Management LLC||Mar. 18, 2010||50|
|N/A=not available *Only B-D operations will be shuttered. RIA unit will remain open|
Broker-dealers: Firms that have shuttered since 2010
More than 2,500 reps have been displaced as private placements have wreaked havoc on more than a dozen B-Ds
Jun 1, 2011 @ 3:22 pm
Deputy editor Bob Hordt and senior reporter Mark Schoeff Jr. discuss the SEC's effort to meld advice standards for brokers and advisers in a new proposal that is also consistent with the DOL fiduciary rule.
Latest news & opinion
Citigroup, JPMorgan Chase predict average interest rates across advanced economies will climb to at least 1 percent in 2018.
Several factors, including consolidation in the independent advice industry and PE's own growing mountain of cash, are fueling the zeal to invest.
Regulator says Kenneth Tyrrell engaged in undisclosed trades worth $13 million.
The "income, diversify and interest rate" pitch was never the main draw for brokers.
Allegations against the wirehouse's former managing director include sexual harassment, which Ford denies.