Results for "independent broker-dealers"

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Tim Murphy, former head of a closed Cetera Financial Group broker-dealer, now with LPL affiliate

January 5, 2017

Tim Murphy, the one-time CEO of a closed Cetera Financial Group broker-dealer, is now registered with an LPL Financial affiliate, Integrated Financial Partners. Formerly the head of the now shuttered Investors Capital Corp., Mr. Murphy registered...

Raymond James recruits Oregon adviser from Morgan Stanley

January 4, 2017

Raymond James & Associates has recruited Portland, Ore.-based brokerage representative Katherine Fisher-Schultz from Morgan Stanley. Ms. Fisher-Schultz, who managed more than $170 million in client assets at Morgan Stanley, has joined Raymond...

Steward Partners nears $5B as it continues to recruit wirehouse reps

January 3, 2017

The first hurdle for any wirehouse rep hoping to join Steward Partners Global Advisory is the “no-jerk policy,” which company founders say is more important than experience or assets under management. “We want great people, first, who...

Amy Webber to replace Eric Schwartz as CEO of Cambridge Investment Research

January 3, 2017

Eric Schwartz, the founder of independent broker-dealer Cambridge Investment Research Inc., has stepped down as the firm's CEO and has been replaced by longtime executive Amy Webber, who will also remain the firm's president. Mr. Schwartz, who...

Cambridge's Eric Schwartz looks into the future of independent broker-dealer industry

December 29, 2016

Eric Schwartz, founder, chairman and CEO of Cambridge Investment Research Inc., is one of the brightest guys in the securities business. One of the most unassuming, too. He started a predecessor to Cambridge in the 1980s but struggled with it...

LPL Financial's new CEO Dan Arnold to receive big pay hike in 2017

December 27, 2016

Dan Arnold, the newly appointed chief executive of LPL Financial Holdings Inc., is staring at a big pay day in 2017. Replacing Mark Casady as chief executive, Mr. Arnold is slated to receive $5.4 million in total compensation next year, according...

Private equity's future in the independent retail financial advice industry

December 20, 2016

On the surface, the independent retail financial advice space hardly seems like fertile ground for private equity activity. Between escalating regulatory costs, combined with demographic and technology shifts redefining how consumers receive...

Finra slaps Allstate Financial with $1 million fine for array of fumbles

December 16, 2016

Citing a broad breakdown with the firm's failures to supervise client and adviser information, the Financial Industry Regulatory Authority Inc. on Thursday slapped a $1 million fine on Allstate Financial Services, the broker-dealer arm of insurance...

Former Advisor Group CEO Erica McGinnis leaves the firm

December 14, 2016

Erica McGinnis, who stepped down in August as CEO of the Advisor Group, is leaving the firm. In a note sent to Advisor Group's registered reps on Wednesday, Advisor Group executive chairwoman Valerie Brown thanked Ms. McGinnis for her work....

Wells Fargo's FiNet snags two Morgan Stanley advisers with $243 million in client assets

December 14, 2016

Wells Fargo Advisors Financial Network, or FiNet, snagged two former Morgan Stanley advisers who opened an independent practice. Tom Fautrel and Paul Carlson joined FiNet this month to open an independent practice, Seventy2 Capital, according...

Former LPL Financial rep gets more than five years for Ponzi scheme

December 12, 2016

A former LPL Financial adviser based in North Carolina was sentenced to more than five-years in prison for running a $1.4 million Ponzi scheme that operated under the name Robin Hood. The former adviser, Charles Fackrell, 37, pleaded guilty...

LPL's Mark Casady not turning his back on financial services industry

December 8, 2016

LPL Financial's CEO and chairman Mark Casady will be retiring next month, but that doesn't mean he is turning his back on the financial services industry. If an announcement Thursday is any indication, Mr. Casady will be focused to some degree...

Smooth transition expected at LPL Financial under new CEO Dan Arnold

December 5, 2016

A smooth transition is expected when Mark Casady hands over the reins of LPL Financial to Dan Arnold in January, with one analyst saying the CEO's departure at this time indicates the company is likely not for sale after all. According to an...

Top regional fee-only RIAs

December 4, 2016

Rank Firm Phone Website Total assets ($M) Total accounts Employees 1 Silvercrest Asset Management Group (212) 649-0600 silvercrestgroup.com $31,199.2 1,068 117 2 Veritable (610) 640-9551 veritablelp.com $13,588.5 2,999 85 3 BBR Partners, LLC...

Tom James to step down as chairman of Raymond James early next year

December 1, 2016

Tom James will step down as chairman of the board of Raymond James Financial, the firm his father founded in 1962, the company announced Thursday. The 74-year-old Mr. James, who will officially relinquish the chairman's seat at the company's...

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...

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