Results for "ameriprise financial"

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Trial court orders Ameriprise to pay advisory firm $1.5 million

June 15, 2017

Ameriprise Financial and two of its employees must pay advisory firm Hanson McClain Advisors $1.5 million for using client information misappropriated by a former employee to solicit business, a trial court judge in California ruled earlier...

Finra charges former Morgan Stanley broker with misleading client about account size

June 12, 2017

Finra has charged a former Morgan Stanley broker with misleading a client about the size of the client's account, making unauthorized trades and trying to settle the matter directly with the client rather than involving the firm. In a June 9...

Rep barred for not disclosing $100 million in private transactions: Finra

June 7, 2017

Correction: An earlier version of this story incorrectly identified Securities America as the firm that employed Jim Seol. He was employed by Ameriprise Financial Services. A Financial Industry Regulatory Authority hearing panel has barred a...

Ameriprise slashes number of funds available to advisers ahead of DOL fiduciary rule

June 6, 2017

Ameriprise Financial Services Inc. is the latest major brokerage firm to slash the number of investment products its brokers can sell as the industry counts down to Friday, when the Department of Labor's fiduciary rule takes effect. On Monday,...

Is Now the Right Time for Practice Acquisition?

June 1, 2017

With the financial services industry potentially going through a new round of regulatory changes in 2017, some advisors are already embracing change. Growth-focused advisors are on the lookout for a strategic move that can improve their competitiveness....

Cybersecurity looms as adviser business threat

May 22, 2017

U.S. officials have warned for many years that cybercrime is one of the greatest threats facing the nation, and now financial advisers have to face the reality that their businesses are also vulnerable to digital attacks. News headlines regularly...

LPL leads a big quarter for broker-dealer moves

May 17, 2017

Financial advisers continued to shuffle between broker-dealers during the first quarter, but the average size of the teams has crept higher, according to data compiled by InvestmentNews. LPL Financial and Raymond James Financial stood out as...

Broker-dealers try to hold the line on advisory and wrap account fees

May 16, 2017

For over a year, CEOs of top broker-dealers have been peppered with questions by analysts who cover their companies about fees. Can firms sustain their current level of fees they charge clients in the new era of the fiduciary adviser? Will they...

Western International to acquire retail assets of Financial West as Kovack Securities picks up TKG Financial

May 9, 2017

As expected, broker-dealer mergers and acquisitions are beginning to heat up, with small to mid-sized independent broker-dealers being gobbled up by larger copmpanies. Western International Securities Inc. will acquire close to 200 retail brokers...

OppenheimerFunds stays uniquely committed to Puerto Rico's muni bonds

May 5, 2017

Puerto Rico's recent bankruptcy filing shines fresh light on the so-called Rochester team at OppenheimerFunds, which has remained stubbornly committed to the U.S. territory even as it has rumbled toward a wall of financial woes. The filing on...

Wells Fargo team managing $239 million joins Ameriprise

May 3, 2017

Thomas Hughes and Bill Steele, who manage $239 million in assets at Wells Fargo Advisors, have joined the employee channel of Ameriprise Financial. They will work in Southlake, Texas, and Dallas, respectively. Mr. Hughes began his securities...

Large independent broker-dealers continue to make headway with recruits

May 1, 2017

After a strong recruiting year in 2016, large broker-dealers continued to ring up recruiting gains in the first quarter. For example, Ameriprise Financial Inc. said that close to 100 veteran advisers moved their practices to the firm in the...

Ameriprise buying bank broker-dealer, adding 200 registered representatives

April 24, 2017

Taking a page from competitors like LPL Financial and Cetera Financial Group, Ameriprise Financial Inc. said on Monday it had agreed to buy Investment Professionals Inc., an independent broker-dealer based in San Antonio, Texas, that focuses...

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...

Independent broker-dealers hit a wall

April 22, 2017

As commission revenue continued its decline in 2016 and headwinds from regulators stiffened, the independent broker-dealer industry hit a wall, with the top 25 firms — those with roughly $250 million and more in total revenue — collectively...

Advisers managing $463 million join Ameriprise ​

March 29, 2017

A six-person advisory team managing $202 million in assets at Next Financial Group in Atlanta, and a two-person team in Saddle Brook, N.J., managing $261 million at UBS, have joined Ameriprise Financial. The Atlanta team, FMB Advisors, will...

Securities America to pay another $1 million to Medical Capital Holdings investors in Massachusetts

March 2, 2017

Almost six years after reaching a settlement with the Massachusetts Securities Division, Securities America Inc. will make a final payment of $1 million to investors, many of them seniors, who bought promissory notes issued by Medical Capital...

New York Life settles 401(k) lawsuit for $3 million

February 16, 2017

New York Life Insurance Co. has agreed to settle a lawsuit alleging the firm engaged in self-dealing in its 401(k) plans for the sum of $3 million. Plaintiffs brought the excessive-fee suit against New York Life in July 2016, seeking relief...

Most advisers' cybersecurity training insufficient

February 7, 2017

Financial advisers should be spending about three times as much time training their staff each year on how to protect the firm and client data from cybersecurity dangers, experts said. About two-thirds of financial advisers spend two hours or...

Top independent broker-dealers reveal their payout tables

January 22, 2017

The 2017 InvestmentNews independent-broker-dealer directory is based on information provided by 90 eligible firms. To be considered for future listings, contact INResearch@investmentnews.com. Visit InvestmentNews.com/bddata for more-complete...

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