Results for "regional brokerages"

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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...

Financial Focus takes $446 million in assets from NPC to Securities America

November 16, 2017

Financial Focus, a hybrid RIA managing $446 million in assets in Carlsbad, Calif., has switched affiliations from National Planning Corp. to Securities America. The all-female advisory firm, founded in 1984, specializes in serving women investors....

Finra bars former broker over unauthorized use of discretion

October 11, 2017

The Financial Industry Regulatory Authority has barred former broker Kenneth Neuner after he failed to appear at a hearing looking into his unauthorized use of discretion. Mr. Neuner had been employed by Summit Brokerage Services until March,...

Financial industry steps up in Harvey's wake

August 31, 2017

As downgraded-to-a-tropical-depression Harvey moves across the country, the damage in its wake has left at least 32 people dead and displaced more than 32,000 Gulf Coast residents. Also in the storm's wake: a financial services industry that...

Dan Arnold's big gamble at LPL Financial

October 7, 2017

DAN ARNOLD, THE NEW CEO of LPL Financial Holdings Inc., is making bold moves to increase profitability at the nation's largest independent broker-dealer, and while he's pleasing Wall Street, some LPL affiliates and advisers are questioning how...

Court orders RIA to pay nearly $2 million for defrauding athletes

August 10, 2017

The Securities and Exchange Commission has obtained a final judgement against Pittsburgh, Pa.-based financial adviser Louis Martin Blazer III, who was accused of taking money without permission from the accounts of several professional athletes....

Top independent broker-dealers by revenue and payout

April 23, 2017

Top 50 IBDs ranked by 2016 revenue Bubble view By group Table view Firm 2016 revenue ($M) % change vs. 2015 2016 commission revenue ($M) % change vs. 2015 2016 fee revenue ($M) % change vs. 2015 2016 other revenue ($M) % change vs. 2015 1 LPL...

Pennsylvania slams midsize broker-dealer with $500,000 fine

July 20, 2017

The Pennsylvania Department of Banking and Securities this week slammed Newbridge Securities Corp. with a $499,000 fine for failing to supervise a broker in connection with sales of structured products to his clients in the state. "From in or...

INsider: Edward Jones contract — new or not — perplexes brokers

December 11, 2012

A small but intense burst of confusion was created last Friday by a report that Edward Jones had placed new and unprecedented levels of restriction on brokers who want to leave the firm. It turns out that those restrictions, while harsh, are...

SEC charges ex-Connecticut rep with $1 million fraud

September 1, 2017

The SEC has charged Leon Vaccarelli, a former broker who had been affiliated with The Investment Center in Waterbury, Conn., with persuading several elderly customers to invest with him and then spending their money on his own living and business...

Finra panel awards Edward Jones $340,000 in estate dispute

September 1, 2017

A Finra arbitration panel in Memphis, Tenn. has found that a military man acting as power of attorney for a client of Edward Jones should reimburse the firm for the damages it paid to the client, who is deceased. In its award, the Financial...

Wells Fargo financial adviser with $350 million in assets skips to Raymond James

November 30, 2016

A longtime Wells Fargo adviser in the Denver area with close to $350 million in client assets, Jarrod E. Biebel, has jumped to Raymond James & Associates Inc. According to Mr. Biebel's BrokerCheck report, he was registered with two separate...

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....

Raymond James grabs four-man team from Wells Fargo

December 14, 2016

Raymond James & Associates Inc. this month grabbed a team of four former reps for Wells Fargo Advisors who managed $288 million in client assets. John Solomon, Phil Greer, Bill Dukelow and Hamilton Neal joined Raymond James this month and will...

Brokerage firms hunt for fintech in early-stage development

May 26, 2017

While financial advisers find it challenging enough to stay on top of new financial technologies, some firms are dedicating resources to ensure they have a heads-up on the latest fintech innovations coming down the pike. Edward Jones is investing...

Jones moves to capitalize on fee business

August 18, 2013

Edward Jones' decision to start selling proprietary investment products is a sharp departure from its past practice but makes perfect sense when you look at where the company's revenue increasingly is being generated. After launching a fee-based...

Cetera loses bank brokers managing $750 million ​

July 27, 2017

Great Western Investments & Insurance, the brokerage business of Great Western Bank in Sioux Falls, S.D., has changed affiliation from the Cetera Financial Group to Raymond James. The bank brokerage employs 17 financial advisers, who collectively...

Barred-broker-turned-politician sued by Baird

April 29, 2010

Robert W. Baird & Co. has filed a civil lawsuit against Kevin O'Brien, a former broker, for allegedly stealing hundreds of thousands of dollars from a client. The lawsuit may pave the way for citizens of a Cincinnati suburb to oust Mr. O'Brien...

Raymond James involved in $350 million development fraud: SEC-appointed receiver

May 27, 2016

Legal problems for Raymond James Financial Inc. are mounting in the fallout over the financing of a failed ski resort and real estate project in Vermont. Last month, the Securities and Exchange Commission filed a complaint claiming fraud against...

Baird snags another Morgan Stanley Smith Barney team

March 29, 2010

Robert W. Baird & Co. Inc. has made another addition to its wealth management business, this time snatching a $150 million adviser team from Morgan Stanley Smith Barney LLC. Russ Guard, a 15-year veteran of Smith Barney, and Jacob Duffy, who...

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