Results for "lpl financial"

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In deregulated environment, Ameriprise may be moving back into retail banking

February 16, 2018

Ameriprise Financial Inc. is exploring the idea of getting back into the banking business, which could boost the firm's profitability. The brokerage and insurance giant had its own bank prior to the credit crisis but wound down that operation...

LPL rolls out robo-adviser to regional bank

February 13, 2018

Regional banks are now looking at offering robo-advice to expand their presence in the financial advice market. Webster Bank, a $26.4 billion financial institution with branches in Connecticut, Rhode Island, Massachusetts and New York, announced...

Cetera creates 'traditional' and 'specialty' channels for its six B-Ds

February 13, 2018

Cetera Financial Group has reorganized its six broker-dealers into two "channels" — traditional and specialty. The traditional channel consists of Cetera Advisors, First Allied Securities and Summit Brokerage Services. Brett Harrison, now...

How to Find the Firm That’s Just Right

February 12, 2018

The right partner should support your clients and empower your practice with what it needs to grow. Learn the key areas to evaluate a firm and download How to Find the Firm That’s Just Right today.

LPL censured and fined $375,000 over brokered CD record keeping

February 9, 2018

The Financial Industry Regulatory Authority Inc. has censured LPL Financial and fined it $375,000 for having inadequate procedures in place to fully disclose all material risks and features of brokered certificates of deposit that it sold to...

As LPL buys broker-dealers, its rivals also benefit

February 8, 2018

The more broker-dealers LPL Financial buys, the better it is, not only for LPL itself, but also for the rest of the independent broker-dealer industry. An acquisition means disruption, and that turns into lots of advisers looking to move to...

Preaching calm, veteran advisers prepped clients for market drop

February 6, 2018

Veteran financial advisers have been talking to clients for months about when — not if — a correction in the stock market would hit. Their message after Monday's historic 1,175 point drop in the Dow: Stay calm. "First, don't panic; second,...

Eight brokerage firms urge CFP Board to delay new fiduciary standards

February 5, 2018

Eight major brokerage firms are calling on the Certified Financial Planner Board of Standards Inc. to halt its effort to raise the investment-advice requirement attached to the designation until the Securities and Exchange Commission proposes...

LPL rep managing $186 million joins Ameriprise

February 5, 2018

Neil Bailey, who managed $186 million in assets while a rep at LPL Financial in Cincinnati, has joined the employee channel of Ameriprise. Joining as well are his team: adviser Molly Grimm and two client service associates. Mr. Bailey began...

The dealmakers financing top adviser technology

February 3, 2018

Until recently, most private equity and venture capital firms ignored the adviser technology space, preferring instead to seek sexier — and often more lucrative — markets in consumer fintech. But some recognized the adviser industry's desperate...

LPL Financial signs up 953 NPH advisers and $34.4 billion in assets

February 1, 2018

LPL Financial Holdings Inc. reported Thursday that it was on track to hit its target of bringing over 70% of the revenue of National Planning Holdings, a company it acquired last year. In its fourth-quarter earnings report, LPL did not report...

SEC censures Indiana-based RIA Mohlman Asset Management

January 31, 2018

The Securities and Exchange Commission has censured Mohlman Asset Management and barred its principal, Louis Mohlman Jr., from working for a broker-dealer or registered investment adviser for two years. The firm is based in Fort Wayne, Ind.,...

LPL retains 17-broker team managing $740 million

January 30, 2018

Oak Partners, a 17-broker team managing $740 million in assets while affiliated with SII Investments, has affiliated with LPL Financial's broker-dealer and corporate registered investment adviser platforms. SII is an independent broker-dealer...

Texas suspends state RIA for 90 days

January 30, 2018

The Texas Securities Commission has suspended Jason N. Anderson, a Beaumont, Texas, investment adviser representative, for 90 days, for charging unreasonable fees to clients. Mr. Anderson, while registered as an agent of LPL Financial, a firm...

DOL fiduciary rule responsible for drop in Stifel adviser headcount: CEO

January 30, 2018

Stifel Financial Corp.'s net loss in financial advisers last year was largely attributable to the Department of Labor fiduciary rule, which caused the firm's advisers to retire in greater-than-usual numbers, a company executive said Tuesday....

LPL holds on to $1.6 billion adviser group

January 29, 2018

Life Brokerage Financial Group, which manages more than $1.6 billion, has chosen to remain with LPL Financial's broker-dealer and corporate registered investment adviser platforms. The firm has been an affiliate of INVEST Financial Corporation,...

Independent broker-dealers are stepping up their game on recruiting from the wirehouses

January 27, 2018

For years, many wirehouse brokers wouldn't consider moving to an independent broker-dealer — and for good reason. The technology at IBDs wasn't on par with the wires. They had no public branding to bring clients in the door. And perhaps above...

Mark Cortazzo leaves LPL after five years

January 25, 2018

LPL Financial is losing another well-known wealth management firm. MACRO Consulting Group, a hybrid firm managing more than $800 million, announced in an email to the firm's clients that it had switched its broker-dealer affiliation to Mutual...

Hybrid group managing $1.3 billion leaves LPL

January 18, 2018

Cornerstone Wealth, which managed $1.3 billion as a hybrid affiliated with LPL Financial, has switched its broker-dealer affiliation to Mutual Securities and its custodian to Fidelity. It also has joined Focus Financial for support with its...

Carson Group platform gives investors financial planning choices

January 18, 2018

The Carson Group on Thursday announced a digital platform that is designed to offer investors the full range of financial planning services, from robo to human adviser. The platform is made up of four-stages that allows clients to move from...

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