Results for "regional brokerages"

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How brokers can navigate consolidation in the B-D industry

February 4, 2016

Financial advisers today face more uncertainty and potential headwinds than ever before — the Department of Labor's pending fiduciary ruling, rising technology and compliance costs, and increased regulatory scrutiny are just a few of the significant...

IBDs trumped by Obama on DOL fiduciary, but vow to fight on

January 26, 2016

Thousands of motivated independent broker-dealers are an opposing force to the Labor Department's fiduciary rule, but they have met an immovable object: President Barack Obama.  That doesn't mean they're giving up on last-ditch efforts to upend...

Oppenheimer & Co. team jumps to Jefferies wealth management unit

November 19, 2015

Jefferies Group, the investment bank owned by Leucadia National Corp., hired a team from Oppenheimer & Co. led by Greg Fisher to run a custody and emerging-market bond business for its wealth-management unit, a person with knowledge of the matter...

Merrill team with $2.9 billion joins Raymond James

November 17, 2015

A team of New York financial advisers with $2.9 billion in client assets left Merrill Lynch to join Raymond James & Associates on Monday, marking the brokerage's greatest recruiting coup to date. + Zoom The Mahoney Group of Raymond James The...

Inside the death of the regional broker-dealer

November 1, 2015

A.G. Edwards & Sons Inc., Advest Inc., McDonald & Co. Twenty years ago, all were respected names in the securities industry — highly competitive regional broker-dealers whose advisers were employees, not independent contractors. Smaller than...

At Edward Jones, it's still one person, one office

September 29, 2015

As more and more firms push their advisers to form teams to better serve investors, one big name is bucking the trend. Edward Jones, founded in 1922 around a model of staffing one adviser per branch office, has no intention of changing its ways,...

American Funds making inroads with fee-based advisers

September 16, 2015

American Funds, once the top-selling mutual fund company, was built on the back of devoted financial advisers, many of whom earned a commission for selling its funds. But today, fee-based financial advisers and retirement plans drive most of...

Banks are cutting broker-dealer units from their 'living wills'

July 8, 2015

The nation's biggest banks are lumping their broker-dealer units in with other 'non-essential' operations. In appeasing regulators, banks show B-Ds where they rank. In case of emergency, dump the securities operations The bear has found China....

Pershing CEO: RIA growth outpacing B-Ds

June 4, 2015

Registered investment advisers are the strongest driver of growth for Pershing's clearing and custody business as regulation and higher costs continue to put pressure on broker-dealers, according to chief executive officer Ron DeCicco. “The...

Stifel deal for Barclays unit would amp up ambitions to attract elite advisers

June 1, 2015

If Stifel Financial Corp., reportedly in negotiations for Barclays Plc's U.S. wealth management unit, can close the deal, it could provide a template for that acquisition-hungry firm to compete for an elite group of advisers who court the wealthiest...

Raymond James bolsters indexed annuities and life wholesaling with acquisition

May 29, 2015

Looking to step up its indexed annuities and life wholesaling game, Raymond James Financial Inc. announced Friday it would acquire The Producers Choice, an insurance marketing organization. The deal is expected to close mid-summer, and Producers...

The latest ranking of independent broker-dealers by rep head count

April 28, 2015

Even if recruiting at independent broker-dealers has hit a wall, the industry still features a number of firms with expanding numbers of registered reps. Here's a snapshot of the number of reps at the biggest independent broker-dealers, including...

LPL Financial's Dan Arnold is managing amid complexity

April 26, 2015

Dan Arnold has been a member of the C-suite at LPL Financial for eight years, but a good number of the advisers at the nation's largest independent broker-dealer are just getting to know him. Mr. Arnold, 50, took over as president last month...

Largest independent broker-dealers enjoy double-digit revenue growth

April 26, 2015

Despite lackluster sales in 2014 of commission-rich products such as variable annuities and nontraded REITs, the leading independent broker-dealers managed to squeeze out double-digit revenue growth in line with the broad market. The 25 largest...

Stifel's purchase of Sterne Agee likely not its last in the broker-dealer space

April 12, 2015

The acquisition of the Sterne Agee Group by Stifel Financial Corp. was classic Ron Kruszewski: find a company in turmoil and buy it on the cheap. It is a strategy that has served the Stifel chief executive well over the past 18 years. Largely...

Merrill Lynch's John Thiel urges colleagues to work with DOL on fiduciary rule

April 8, 2015

At least one major industry player is taking a more welcoming stance toward working with the Labor Department as it seeks to create a rule that would hold brokers to a fiduciary standard when dealing with retirement plans. Speaking on Wednesday...

Investors see few benefits of lower fees in adviser-sold investments

March 17, 2015

On the whole, fees that mom-and-pop investors pay for mutual funds and other similar products have dropped substantially over the last several years. But in at least one corner of the investment universe, fees aren't budging all that much. The...

Forget personality tests, Edward Jones uses job simulation to assess potential hires

March 13, 2015

Edward Jones has eliminated personality testing as part of its process to find the best financial adviser candidates. Instead, it's finding more success with a 16-step hiring process that includes a “day in the life” simulation. The St....

Edward Jones continues push into proprietary funds

March 3, 2015

Edward Jones is expanding its lineup of proprietary mutual funds for its 12,000 brokers and financial advisers a year and a half after the brokerage launched its first fund, the Bridge Builder Bond fund. Edward Jones' move into the proprietary...

SEC's Gallagher slams White House fiduciary memo as 'propaganda'

February 20, 2015

An Obama Administration official's call for tough rules on brokers is “propaganda” that ignores stiff oversight of the industry by market regulators, a Securities and Exchange Commission member said Friday. SEC Commissioner Daniel Gallagher...

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