Results for "independent broker-dealers"

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UBS team managing $440 million moves to Raymond James

December 14, 2017

A team with three advisers and two associates managing $440 million at UBS has joined the employee channel of Raymond James Financial in Winter Park, Fla. Michael Zizmer, one of the lead advisers on the team, began his financial services career...

Finra fines three former Cetera firms over sales

December 11, 2017

The Financial Industry Regulatory Authority has censured three former units of Cetera—Investors Capital Corp., J.P. Turner & Co. and VSR Financial Services—for selling Class A shares with a front-end load, or Class B or Class C shares to...

Hybrid firm managing $900 million switches affiliation to Triad Advisors

December 7, 2017

Continuum Advisory, an independent hybrid firm managing approximately $900 million in total advisory and brokerage client assets, has ended its affiliation with Signator Investors and affiliated with Triad Advisors. Based in Pleasanton, Calif.,...

SEC charges two former brokers with churning

December 6, 2017

The Securities and Exchange Commission has charged two former brokers—Zachary S. Berkey of Centereach, N.Y., and Daniel T. Fischer of Greenwich, Conn.—with churning the accounts of 10 clients at Four Points Capital Partners, a New York-based...

IBDs can protect good advisers from bad recruits

November 3, 2017

I recently had lunch with an independent adviser affiliated with a firm that had acquired a smaller broker-dealer and most of its reps some time ago. Since then, highly anticipated platform enhancements the acquirer had planned to make that...

Say goodbye to IBDs, and hello to 'IAB firms'

November 13, 2017

Sometimes inertia wins the day on issues such as nomenclature. Perhaps one of the most obvious examples of this can be found in how many independent firms across the retail financial advice space continue to describe themselves as an "independent...

A $1 billion super OSJ leaves NPC for Royal Alliance

November 7, 2017

Strategic Partners, an office of supervisory jurisdiction that administered more than $1.1 billion in assets while affiliated with National Planning Corp., has affiliated with Royal Alliance Associates, part of the Advisor Group. Founded by...

Wedbush Securities, once again, in trouble with regulators

October 25, 2017

From time to time, this column focuses on firms and individuals in the investment advice business who continue to screw up — those who seem destined to repeat the past and harm investors, damage their own reputations or both. It can be maddening....

Newbridge Securities to be bought by foreign wealth management firm

October 11, 2017

Another independent broker-dealer is changing hands. This time, Newbridge Securities Corp., a mid-size firm with about 200 reps and advisers, will be acquired by a foreign firm, the London-based European Wealth Group. The deal was announced...

Independent broker-dealer revenue on the decline

April 22, 2017

InvestmentNews' research team examined how 57 independent broker-dealers, who have participated in our in-depth survey every year since 2011, have fared through a shifting financial advisory landscape. In 2016, independent broker-dealers saw...

Merrill loses $350 million team to Raymond James

March 22, 2017

A five-person team that managed $350 million in client assets at Merrill Lynch has joined the employee unit of Raymond James. Led by Brian Pick and Terri Fought, who operate as Pick Fought Wealth Advisors in Williamsport, Pa., the team includes...

Fastest-growing independent broker-dealers by revenue

May 2, 2017

Here are the top 10 independent broker-dealers by revenue growth from 2011 to 2016. This data was collected from firms that participated in InvestmentNews' independent broker-dealer surveys. Click through to find out which firms saw the most...

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...

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...

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....

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...

Finra: Who's watching the watchdog?

September 2, 2017

IFyou're a broker, there are three things in life that are certain: death, taxes — and answering to Finra.

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...

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...

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