Results for "broker-dealers"

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Morgan Stanley's success looks long in the tooth to analyst

April 16, 2018

Morgan Stanley is an "aging bull" when it comes to its wealth management division, and the firm's recent stalled growth in the headcount of financial advisers is turning into a problem, according to a new report by a Wall Street analyst. The...

Commonwealth's Joseph Deitch debuts as self-help author

April 16, 2018

When Joseph Deitch is asked about his claims that it took him 20 years to write his first book, Elevate: An Essential Guide to Life (Greenleaf Book Group Press, 2018), the founder and chairman of Commonwealth Financial Network quips, "I'm a...

Former Merrill Lynch broker barred for hearing no-show

April 13, 2018

The Financial Industry Regulatory Authority Inc. has barred former Merrill Lynch broker Tyler Harris for not appearing at a hearing looking into his personal banking transactions. Merrill Lynch terminated Mr. Harris in August 2017, giving its...

Wells Fargo Advisors continues to bleed reps

April 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 Friday a net loss of 145 reps over the first three months of this year. A spokeswoman for Wells Fargo Advisors,...

LPL loses $1.8 billion retirement group

April 11, 2018

Ingham Retirement Group, a $1.8 billion advisory firm based in Miami, has left LPL Financial. The firm — a national, independent shop that provides retirement plan consulting and record-keeping, actuarial and investment advice services —...

Finra bars no-show former Janney broker

April 11, 2018

The Financial Industry Regulatory Authority Inc. has barred former Janney Montgomery Scott broker Scott W. Palmer, who declined to take part in a hearing looking into his stock recommendations. Janney permitted Mr. Palmer to resign in May 2017,...

Michigan $120 million indie switches to Securities America

April 10, 2018

Morrison Nordmann & Associates, an independent managing $120 million in East Lansing, Mich., has switched affiliation from Invest Financial to Securities America. Partners Scott Morrison and Matthew Nordmann founded the firm in 2001 and affiliated...

Woodbury latest firm to expand by adding bank brokers

April 10, 2018

Yet another broker-dealer is taking a stab at working with bank brokers, as Woodbury Financial Services on Tuesday said it had acquired $10 billion in brokerage and advisory assets from Capital One Financial Corp. The deal, terms of which were...

UBS, broker to pay $805,000 in Finra award

April 10, 2018

A hearing panel of the Financial Industry Regulatory Authority Inc. has awarded a customer of UBS broker Michael James Keane $805,120, the latest in a series of payments he has faced in the past several years to satisfy client complaints. Finra...

Finra bars former OneAmerica broker for stealing customer's money

April 10, 2018

The Financial Industry Regulatory Authority Inc. has barred Domingo Gonzalez, a former broker with OneAmerica Securities, for depositing money entrusted to him into his own account and then spending the money. Finra said that Mr. Gonzalez, who...

Woodbury acquires Capital One's $10 billion adviser business

April 10, 2018

Woodbury Financial Services, part of the Advisor Group, is buying Capital One Investing's $10 billion investment management and brokerage division. Capital One's advisers will join Woodbury's roster of affiliated independent advisers and get...

Finra, looking into trading activity, bars no-show broker

April 9, 2018

The Financial Industry Regulatory Authority Inc. has barred William Brunner, a former broker who had been affiliated with Investment Planners Inc., after he failed to take part in a hearing looking into his trading activity. Mr. Brunner resigned...

LPL to lose mega hybrid RIA

April 6, 2018

Independent Financial Partners, a hybrid RIA with roughly $9.5 billion in assets under management and more than 500 advisers, plans to leave LPL Financial as its broker-dealer, according to two people with knowledge of the decision. One of those...

Beyond payroll: What makes broker-dealers successful

April 2, 2018

Every wealth management firm understands how its ability to attract and retain advisers impacts its financial health. Yet, there are challenges: New regulations, an aging field force, and the emergence of alternative distribution channels must...

Morgan Stanley continues its mutual fund overhaul

March 30, 2018

Morgan Stanley continues to overhaul its product platform, this week announcing changes that include cutting poor performing funds and converting buy-and-hold clients from one share class of mutual fund to another. The ongoing changes at Morgan...

Greg Fleming's latest venture bets on the Rockefeller brand

March 30, 2018

Greg Fleming's launch of Rockefeller Capital Management is fully stocked with brand recognition and the lofty goal of growing assets under management to $100 billion within five years. Now comes the hard part: Executing a growth strategy that...

Fidelity sues broker who left for RIA firm

March 29, 2018

Fidelity Brokerage Services has filed suit against Benjamin Linser, a former broker in the firm's Covington, Ky., call center, charging that he took proprietary and confidential information when he left to join a registered investment advisory...

Morgan Stanley ignored abuse accusations against one of its top brokers: report

March 29, 2018

Morgan Stanley knew that one of its top brokers had been accused of abuse by multiple women over a number of years, but failed to take action, according to a published report. Four women have sought restraining orders against Douglas Greenberg,...

Merrill Edge looks to hire 300 advisers in 2018

March 29, 2018

As the large wirehouses continue to retrench and search for new ways to train financial advisers, Bank of America said Thursday it was following through on previously mentioned plans to expand its online brokerage platform, Merrill Edge. It...

Finra bars former Morgan Stanley broker who sought client loan for outside activities

March 29, 2018

Finra barred from the industry a former Morgan Stanley broker who allegedly violated rules governing work brokers do outside their firms. In a March 28 agreement, David Warren Olson accepted the ban from the Financial Regulatory Authority Inc.,...

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