Results for "broker-dealers"

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Ladenburg bets advisers will serve more self-employed clients in the future

July 25, 2018

Ladenburg Thalmann Financial Services is investing in Track Technologies, an early-stage tech startup that provides tax automation for independent contractors, freelancers and other self-employed people. It's the first investment to result from...

SEC nominee Roisman stresses disclosure, helping investors understand adviser relationship

July 24, 2018

Securities and Exchange Commission nominee Elad Roisman avoided taking a position on the agency's investment advice reform proposal Tuesday and stressed the importance of disclosure when pressed by Democratic senators on advice standards. In...

UBS wealth management profits up 16% in latest quarter

July 24, 2018

UBS Group AG said on Tuesday that its wealth management business in the U.S. and Latin America produced a pretax profit of $391.6 million over the three months ended in June, an increase of 16% compared with the same quarter a year ago. The...

Back office should be top of mind for growing advisory firms

July 24, 2018

Recently, a colleague of mine suggested that "back office" should be considered a bad word, because it's where things go wrong without accountability. I respectfully disagree. The back office plays a major role in delivering a client service...

Galvin calls out broker who claims he never had a customer complaint

July 24, 2018

Massachusetts securities regulators have charged Alan P. Siegel, a broker with G.A. Repple & Co. in Easton, Mass., with lying on his website, claiming he had never received a complaint. According to the administrative complaint filed by the...

LPL integrates Riskalyze with ClientWorks

July 24, 2018

Riskalyze has been integrated with LPL Financial's ClientWorks platform to provide improved account synchronization and monitoring to the 2,500 LPL advisers who use the digital risk assessment tool. Advisers now can link clients' Riskalyze profiles...

Cetera brokers may go elsewhere with no stay bonuses on horizon

July 20, 2018

Will they stay or will they go? That's the question facing Cetera Financial Group's 8,000 brokers and advisers now that they know the company has no intention of offering them retention bonuses to stay on with new owner Genstar Capital. That...

Fidelity asks Arizona court for injunction against two brokers

July 20, 2018

Fidelity Brokerage Services has asked an Arizona court for an injunction against two former brokers whom they have charged with taking proprietary customer information to start their own business. According to the Fidelity complaint, former...

No 'stay bonuses' for Cetera Financial Group reps

July 19, 2018

Cetera Financial Group has no plans to give extra pay to its 8,000 brokers and financial adviser in the form of "stay bonuses" after the company said on Tuesday it had sold a majority stake to Genstar Capital, a private equity firm. Stay bonuses...

Cetera Financial Group brokers taking wait-and-see attitude on sale

July 19, 2018

Cetera Financial Group's 8,000 brokers are taking a wait-and-see attitude in reaction to news that their company has been sold yet again, this time to a private equity firm that could very well put it up for sale down the road. One big question...

Will Wells Fargo Advisors force brokers to become salesmen only?

July 19, 2018

Some of Wells Fargo Advisors 14,000 reps and advisers were buzzing Thursday, a day after Yahoo Finance published a story that reported that 200 private bankers who work with the firm's richest clients have been pushed by management to work more...

William Galvin: Infinex Investments fined $125,000

July 18, 2018

Infinex Investments has settled with Massachusetts securities regulators for failing to adequately supervise agents who were selling high-commission securities products, including real estate investment trusts and variable annuities, primarily...

Cetera Financial Group close to announcing its acquisition by private equity

July 17, 2018

Cetera Financial Group is close to announcing that it will be acquired by a private equity buyer or group of buyers, according to industry sources, with the company potentially revealing the details as early as 5 p.m. today. The buyers and price...

SEC censures BGC Financial, imposes $1.25 million penalty over records

July 17, 2018

BGC Financial, a New York-based broker-dealer that was spun off from Cantor Fitzgerald in 2004, has agreed to pay a $1.25 million penalty to settle charges that it failed to preserve audio files sought by the SEC and inaccurately recorded travel,...

Genstar Capital buys majority stake in Cetera Financial Group

July 17, 2018

Cetera Financial Group, a network of six independent broker-dealers with about 8,000 brokers and advisers, said Tuesday evening that private-equity firm Genstar Capital will buy a majority equity stake in the company. Cetera's holding company,...

Former broker receives extra jail time for defrauding own mother

July 17, 2018

A former stockbroker convicted of defrauding his elderly mother, ex-girlfriends and a military veteran out of $360,000 will get as many as four years added to his sentence for an earlier $5.4 million securities fraud scheme, New York's attorney...

Headwinds Turn to Tailwinds for Real Assets

July 16, 2018

To many market observers, the first quarter of 2016 marked the low point for sectors commonly associated with real assets. Stagnant global growth, oversupplied commodities markets, a strong U.S. dollar, and natural resource companies with bloated...

Former Stifel broker barred for taking $205,000 from a client

July 13, 2018

The Financial Industry Regulatory Authority Inc. has barred Mitchell Yanow, a former broker with Stifel, Nicolaus, for using a customer's blank checks to pay for his own expenses. According to Finra, Mr. Yanow took at least $205,586 of the 87-year-old...

Wells Fargo Advisors continues to see a decline in brokers

July 13, 2018

Wells Fargo Advisors continues to see a decline in the number of brokers and advisers working at the firm's various channels, reporting on Friday morning a net loss of 173 registered reps — or 1.2% of its total adviser sales force — during...

Broker accused of churning barred by Finra

July 13, 2018

The Financial Industry Regulatory Authority Inc. has barred Paul Soll, who recently resigned from Western International Securities, for failing to provide the regulator with information about his trading activity when he was employed by Financial...

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