Results for "broker-dealers"

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Not yet a broker, yet barred by Finra

March 27, 2018

The Financial Industry Regulatory Authority, Inc. has barred Holly Arbuckle, who was in the process of becoming a broker at Merrill Lynch, for not appearing at a hearing investigating the circumstances of her dismissal from the firm. On Sept....

Sensitive private data mishandled by broker watchdogs, whistleblower claims

March 27, 2018

A whistleblower is accusing some key financial regulators of allowing sensitive broker information to become readily accessible, even as industry watchdogs emphasized the need for companies to protect client data. According to a complaint lodged...

Cetera nabs Marquette Bank's $382 million program from Invest

March 21, 2018

The retail wealth management business of Chicago-based Marquette Bank, which manages $382 million in retail client assets, has switched its affiliation from Invest Financial to the financial institutions group of Cetera. Through the change in...

LPL expands securities-based loans through Goldman Sachs

March 20, 2018

Brokers and advisers at LPL Financial Holdings Inc. will now be able to offer clients securities-based lending through Goldman Sachs, the investment banking giant that was one of the lead underwriters in LPL's November 2010 IPO. Goldman Sachs...

Olympics advice from champion advisers

February 6, 2018

As the world turns its eyes to the XXIII Winter Olympic Games, it's worth noting that the U.S. financial adviser community boasts a fair share of former Olympians. See who they are — and their advice to those vying for the gold in PyeongChang,...

Outside activities lead Finra to bar former J.P. Morgan rep

March 1, 2018

Pavel Shklyar, a former J.P. Morgan Securities broker in Haworth, N.J., has been barred by the Financial Industry Regulatory Authority for failing to take part in a hearing looking at his outside business activities. In February, according to...

Speculation mounts on whether others will follow UBS' latest move to prevent brokers from leaving

February 22, 2018

UBS Financial Services, which followed Morgan Stanley to become the second wirehouse to exit the broker protocol late last year, has stepped up restrictions on brokers who might want to leave the firm, and experts are speculating if other broker-dealers...

KMS unit of Ladenburg appoints Erinn Ford president

February 15, 2018

Seattle-based KMS Financial Services, one of the independent broker-dealers owned by Ladenburg Thalmann Financial Services, has named Erinn Ford as its president. Joining the firm in March, she will succeed Tracy "Ace" Forsythe, a 20-year KMS...

Cetera creates 'traditional' and 'specialty' channels for its six B-Ds

February 13, 2018

Cetera Financial Group has reorganized its six broker-dealers into two "channels" — traditional and specialty. The traditional channel consists of Cetera Advisors, First Allied Securities and Summit Brokerage Services. Brett Harrison, now...

LPL retains 17-broker team managing $740 million

January 30, 2018

Oak Partners, a 17-broker team managing $740 million in assets while affiliated with SII Investments, has affiliated with LPL Financial's broker-dealer and corporate registered investment adviser platforms. SII is an independent broker-dealer...

LPL holds on to $1.6 billion adviser group

January 29, 2018

Life Brokerage Financial Group, which manages more than $1.6 billion, has chosen to remain with LPL Financial's broker-dealer and corporate registered investment adviser platforms. The firm has been an affiliate of INVEST Financial Corporation,...

Finra launches helpline for small-firm members

January 22, 2018

Finra launched a helpline for small-firm members on Monday to answer "general and routine" compliance questions. Financial Industry Regulatory Authority Inc. personnel will be available on the helpline from 9 a.m. EST until 5 p.m. EST Monday...

Fiduciary rule every bit as necessary for brokers, according to report

January 16, 2018

For those who think a fiduciary-type rule is unnecessary, think again. The Wall Street Journal reported last week that "advisers at some of the biggest discount brokerage firms make more money if they steer clients toward more-expensive products."...

Morgan Stanley's wealth management fees climb to all-time high

January 18, 2018

Record stock markets have been good to Morgan Stanley. The firm's wealth management fees climbed to a record in the fourth quarter as the S&P 500 Index reached an all-time high. The company beat its target cost ratio for the year and posted...

BlackRock takes aim at sacred cow to bring factors to the masses

January 16, 2018

It's not enough for BlackRock Inc. to command one of every three dollars investors send to fund companies in America. Now it wants to control their minds, too. Operatives of the New York-based behemoth will be fanning out to brokerages around...

New Jersey bank moves $700 million program from Invest to Cetera

January 10, 2018

Investors Bank, based in a Short Hills, N.J., is moving its retail wealth management program from Invest Financial Corp. to the Cetera Financial Institutions platform. The bank, a subsidiary of Investors Bancorp, Inc., employs 22 financial professionals...

Finra's stats reveal an industry in decline

October 20, 2017

Recent statistics released by the Financial Industry Regulatory Authority Inc. indicate that the brokerage industry is in decline, at least when measured by the total number of individuals and firms that the industry-funded broker-dealer regulator...

LPL retains $4.3 billion at The Planners Network

December 7, 2017

The more than 75 advisers who constitute The Planners Network—and manage, administer or advise on more than $4.3 billion in assets—have individually decided to stay with LPL Financial. Most of TPN's advisers operate as single-person or small...

Morgan Stanley will boost savings with broker-protocol exit, UBS analysts say

December 8, 2017

Morgan Stanley's decision to exit the broker protocol for recruiting at the end of October will result in savings on recruiting and boost the bank's bottom line, according to a report from analysts at UBS Securities, a competitor that has also...

Former Newport, Revere rep barred for failure to testify

August 11, 2017

Finra has barred former registered representative George Dahl for failure to provide testimony to its staff at a hearing that was looking into his conduct. In March 2016, the Financial Industry Regulatory Authority Inc. issued a letter of acceptance,...

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