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Milwaukee-based advisory firm managing $344 million joins Ameriprise from Morgan Stanley

November 29, 2016

A Milwaukee-based advisory firm with $344 million under management has joined Ameriprise from Morgan Stanley. Scott Latzke and Mark Filla, making up The Filla Latzke Group, said in a statement that Ameriprise was the best fit for their firm....

Independent broker-dealers boost tech spending

November 27, 2016

In a survey fielded late this summer, InvestmentNews found that the typical independent broker-dealer spent $13.6 million on technology in 2015, representing 7.1% of their total operating expenses and 2.2% of their annual revenues. With the...

Advisers managing $1.7 billion move to Noyes from Wells Fargo

November 21, 2016

A team of financial advisers managing $1.7 billion in client assets has joined Noyes' wealth management group from Wells Fargo Advisors. Cooke Financial Group, led by advisers John Chris Cooke (who goes by his middle name) and Brian F. Cooke,...

Ron Carson's jump from LPL a big win for Cetera

November 18, 2016

When Robert Moore joined Cetera Financial Group in May as chairman, and later became CEO, many in the industry wondered if he would recruit head-to-head with his old employer, LPL Financial. They now have their answer. Mr. Moore and Cetera have...

Star broker, Ron Carson, is leaving LPL to jump to Cetera

November 18, 2016

Ron Carson, one of LPL Financial's best known, longest-tenured financial advisers, is leaving the firm, according to a source with knowledge of the move. Mr. Carson, whose firm Carson Wealth Management, has $7.4 billion in client assets, will...

Schwab among the bidders for LPL: website

November 17, 2016

Shares of LPL Financial Holdings Inc. continued to climb today after a market website, StreetInsider.com, reported late Wednesday that the Charles Schwab Corp. was one of the bidders for the company. The website said that it based its report...

Finra fines Lincoln Financial broker-dealer $650,000 for failing to protect client data

November 15, 2016

One of Lincoln Financial Network's independent broker-dealers was fined $650,000 by the Financial Industry Regulatory Authority Inc. for failing to reasonably safeguard confidential customer data and exposing thousands of clients' records to...

Former LPL executive Derek Bruton resurfaces at Oppenheimer

November 14, 2016

Derek Bruton, a senior executive formerly with LPL Financial who abruptly resigned under a cloud in 2014, is now registered with Oppenheimer & Co. Inc., a New York brokerage that recently cut ties with some brokers who posed compliance risks....

Advisor Group taps wirehouse veteran Jamie Price to be CEO

November 14, 2016

One of the largest networks of independent broker-dealers, the Advisor Group, has tapped a wirehouse veteran, Jamie Price, to be its CEO. Between 2002 and 2010, Mr. Price served in numerous positions at UBS Financial Services Inc., most recently...

Mary Jo White: 3 areas of oversight for the Treasury market

November 13, 2016

This is an edited speech given Oct. 24 by Mary Jo White, chairwoman of the Securities and Exchange Commission, at a conference in New York on The Evolving Structure of the U.S. Treasury Market, the second annual conference on this topic. It...

Ex-Newbridge Securities broker pleads guilty to securities fraud

November 10, 2016

A former Newbridge Securities Corp. broker pleaded guilty to securities fraud for his role in a $131 million market manipulation scheme, according to a statement from the U.S. Justice Department. The broker, Gerald Cocuzzo, 37, pleaded guilty...

Hybrid adviser managing $650 million in assets moves to LPL Financial from Voya Financial

November 9, 2016

A hybrid advisory firm managing $650 million in assets has joined LPL Financial from Voya Financial Advisors. President and CEO Todd A. Slingerland and 18 advisers at Capital Financial Planning in Albany, N.Y., are joining LPL's broker-dealer...

SEC scrutinizing two Ladenburg Thalmann firms for selling mutual funds with 12b-1 fees

November 8, 2016

The Securities and Exchange Commission is continuing to hold advisers feet to the fire over the sale of mutual funds that charge annual marketing fees to clients when less expensive choices are available. Two firms, Triad Advisors Inc. and Securities...

Independent RIA managing $395 million of client assets joins LPL Financial

November 7, 2016

An independent registered investment adviser and broker-dealer managing $395 million of client assets has joined LPL Financial, due in part to the prospect of increased regulation. Puplava Financial Services Inc., operated by founder James “Jim”...

Hybrid RIA managing $2.2 billion in client assets joins Securities America from LPL Financial

November 7, 2016

A hybrid RIA managing $2.2 billion of client assets has switched broker-dealers, moving from LPL Financial to Securities America. WealthPLAN Partners, co-founded by Brent O'Mara and Todd Feltz, has 28 advisers and was previously affiliated with...

Signator, John Hancock's IBD, taps new CEO

November 4, 2016

Culminating a busy year, Signator Investors Inc., John Hancock's independent broker-dealer, said on Thursday it was appointing a new CEO to replace its longtime chief, Brian Heapps, who is retiring. Signator has tapped industry and firm veteran...

Advisers managing $200 million in client assets join Stifel

November 2, 2016

Advisers at an independent broker-dealer with $200 million in client assets has joined Stifel Financial Corp. Three financial advisers, Robert W. Anderson, Michael R. Anderson and Laurie Anderson, part of The Anderson Financial Group, will be...

LPL Financial mum on potential sale talks

November 2, 2016

During its third quarter earnings call, LPL Financial Holdings Inc. executives said they would not comment about any speculation in the market that the firm was on the block. “There have been speculative stories in the news about us,” said...

Cambridge, Cetera will continue to pay commissions on IRAs under DOL fiduciary rule

November 1, 2016

Cambridge Investment Research Inc. and the Cetera Financial Group network are the latest broker-dealers to announce their strategies to comply with the Department of Labor's fiduciary rule, saying Tuesday that they will continue to pay both...

W.P. Carey's Goldberg straightens out adviser misconceptions about DOL fiduciary rule

October 31, 2016

Mark Goldberg, president of investment management at W.P. Carey Inc., has been listening for months to financial advisers' worries about the Department of Labor's new fiduciary rule, which seeks to raise investment advice standards in retirement...

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