Results for "broker-dealers"

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Vermont hybrid managing $330 million moves from Lincoln to LPL

June 14, 2018

Flood Financial services, a hybrid firm managing $330 million in assets in South Burlington, Vt., has switched its broker-dealer and registered investment adviser platforms from Lincoln Financial Services to LPL Financial Services. Richard Flood,...

Former AXA broker in Arizona charged with $475,000 client theft

May 30, 2018

A former AXA Advisors broker in Scottsdale, Ariz., has been indicted on charges that he stole $475,000 from three of his clients' retirement accounts, according to a statement by the state attorney general's office reported by azcentral.com....

Fidelity sues former broker's RIA firm for misuse of trade secrets

May 3, 2018

Fidelity Brokerage Services has filed suit against Provident Financial Planning, a registered investment advisory firm owned by Paul Michel, a former broker in the firm's Southlake, Texas, office. Fidelity charges that Provident is using proprietary...

Utah moves to fine Cetera, LPL and CUSO over credit union violations

May 7, 2018

The Utah division of securities last month moved to fine three large independent broker-dealers, Cetera Advisor Networks, LPL Financial and CUSO Financial Services, a combined $2.25 million for industry rule violations stemming from how broker-dealers...

Not yet a broker, yet barred by Finra

March 27, 2018

The Financial Industry Regulatory Authority, Inc. has barred Holly Arbuckle, who was in the process of becoming a broker at Merrill Lynch, for not appearing at a hearing investigating the circumstances of her dismissal from the firm. On Sept....

Former Merrill Lynch broker barred for hearing no-show

April 13, 2018

The Financial Industry Regulatory Authority Inc. has barred former Merrill Lynch broker Tyler Harris for not appearing at a hearing looking into his personal banking transactions. Merrill Lynch terminated Mr. Harris in August 2017, giving its...

Finra bars no-show former Janney broker

April 11, 2018

The Financial Industry Regulatory Authority Inc. has barred former Janney Montgomery Scott broker Scott W. Palmer, who declined to take part in a hearing looking into his stock recommendations. Janney permitted Mr. Palmer to resign in May 2017,...

Olympics advice from champion advisers

February 6, 2018

As the world turns its eyes to the XXIII Winter Olympic Games, it's worth noting that the U.S. financial adviser community boasts a fair share of former Olympians. See who they are — and their advice to those vying for the gold in PyeongChang,...

Sensitive private data mishandled by broker watchdogs, whistleblower claims

March 27, 2018

A whistleblower is accusing some key financial regulators of allowing sensitive broker information to become readily accessible, even as industry watchdogs emphasized the need for companies to protect client data. According to a complaint lodged...

Cetera nabs Marquette Bank's $382 million program from Invest

March 21, 2018

The retail wealth management business of Chicago-based Marquette Bank, which manages $382 million in retail client assets, has switched its affiliation from Invest Financial to the financial institutions group of Cetera. Through the change in...

2018 and beyond: Business planning, and questioning

November 3, 2017

As an adviser, you know 2017 has been dosed with Department of Labor hoopla, while it's been simultaneously tamed by a bull market. Just imagine what next year might bring. Have you devised a plan for it yet? Advisers frequently say they need...

KMS unit of Ladenburg appoints Erinn Ford president

February 15, 2018

Seattle-based KMS Financial Services, one of the independent broker-dealers owned by Ladenburg Thalmann Financial Services, has named Erinn Ford as its president. Joining the firm in March, she will succeed Tracy "Ace" Forsythe, a 20-year KMS...

Finra's stats reveal an industry in decline

October 20, 2017

Recent statistics released by the Financial Industry Regulatory Authority Inc. indicate that the brokerage industry is in decline, at least when measured by the total number of individuals and firms that the industry-funded broker-dealer regulator...

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...

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,...

Finra launches helpline for small-firm members

January 22, 2018

Finra launched a helpline for small-firm members on Monday to answer "general and routine" compliance questions. Financial Industry Regulatory Authority Inc. personnel will be available on the helpline from 9 a.m. EST until 5 p.m. EST Monday...

Former Newport, Revere rep barred for failure to testify

August 11, 2017

Finra has barred former registered representative George Dahl for failure to provide testimony to its staff at a hearing that was looking into his conduct. In March 2016, the Financial Industry Regulatory Authority Inc. issued a letter of acceptance,...

Fiduciary rule every bit as necessary for brokers, according to report

January 16, 2018

For those who think a fiduciary-type rule is unnecessary, think again. The Wall Street Journal reported last week that "advisers at some of the biggest discount brokerage firms make more money if they steer clients toward more-expensive products."...

BlackRock takes aim at sacred cow to bring factors to the masses

January 16, 2018

It's not enough for BlackRock Inc. to command one of every three dollars investors send to fund companies in America. Now it wants to control their minds, too. Operatives of the New York-based behemoth will be fanning out to brokerages around...

New Jersey bank moves $700 million program from Invest to Cetera

January 10, 2018

Investors Bank, based in a Short Hills, N.J., is moving its retail wealth management program from Invest Financial Corp. to the Cetera Financial Institutions platform. The bank, a subsidiary of Investors Bancorp, Inc., employs 22 financial professionals...

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