Results for "independent broker-dealers"

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Mary Jo White: 3 areas of oversight for the Treasury market

November 13, 2016

This is an edited speech given Oct. 24 by Mary Jo White, chairwoman of the Securities and Exchange Commission, at a conference in New York on The Evolving Structure of the U.S. Treasury Market, the second annual conference on this topic. It...

Ex-Newbridge Securities broker pleads guilty to securities fraud

November 10, 2016

A former Newbridge Securities Corp. broker pleaded guilty to securities fraud for his role in a $131 million market manipulation scheme, according to a statement from the U.S. Justice Department. The broker, Gerald Cocuzzo, 37, pleaded guilty...

Hybrid adviser managing $650 million in assets moves to LPL Financial from Voya Financial

November 9, 2016

A hybrid advisory firm managing $650 million in assets has joined LPL Financial from Voya Financial Advisors. President and CEO Todd A. Slingerland and 18 advisers at Capital Financial Planning in Albany, N.Y., are joining LPL's broker-dealer...

SEC scrutinizing two Ladenburg Thalmann firms for selling mutual funds with 12b-1 fees

November 8, 2016

The Securities and Exchange Commission is continuing to hold advisers feet to the fire over the sale of mutual funds that charge annual marketing fees to clients when less expensive choices are available. Two firms, Triad Advisors Inc. and Securities...

Independent RIA managing $395 million of client assets joins LPL Financial

November 7, 2016

An independent registered investment adviser and broker-dealer managing $395 million of client assets has joined LPL Financial, due in part to the prospect of increased regulation. Puplava Financial Services Inc., operated by founder James “Jim”...

Hybrid RIA managing $2.2 billion in client assets joins Securities America from LPL Financial

November 7, 2016

A hybrid RIA managing $2.2 billion of client assets has switched broker-dealers, moving from LPL Financial to Securities America. WealthPLAN Partners, co-founded by Brent O'Mara and Todd Feltz, has 28 advisers and was previously affiliated with...

Signator, John Hancock's IBD, taps new CEO

November 4, 2016

Culminating a busy year, Signator Investors Inc., John Hancock's independent broker-dealer, said on Thursday it was appointing a new CEO to replace its longtime chief, Brian Heapps, who is retiring. Signator has tapped industry and firm veteran...

LPL Financial mum on potential sale talks

November 2, 2016

During its third quarter earnings call, LPL Financial Holdings Inc. executives said they would not comment about any speculation in the market that the firm was on the block. “There have been speculative stories in the news about us,” said...

Advisers managing $200 million in client assets join Stifel

November 2, 2016

Advisers at an independent broker-dealer with $200 million in client assets has joined Stifel Financial Corp. Three financial advisers, Robert W. Anderson, Michael R. Anderson and Laurie Anderson, part of The Anderson Financial Group, will be...

Cambridge, Cetera will continue to pay commissions on IRAs under DOL fiduciary rule

November 1, 2016

Cambridge Investment Research Inc. and the Cetera Financial Group network are the latest broker-dealers to announce their strategies to comply with the Department of Labor's fiduciary rule, saying Tuesday that they will continue to pay both...

Advisory team managing $280 million in client assets moves from Lincoln Financial to LPL

October 31, 2016

A broker-dealer team managing $280 million in client assets has joined LPL Financial from Lincoln Financial Advisors. (More: See all the latest moves in the InvestmentNews Advisers on the Move database) Devin Garofalo and his team of nine financial...

W.P. Carey's Goldberg straightens out adviser misconceptions about DOL fiduciary rule

October 31, 2016

Mark Goldberg, president of investment management at W.P. Carey Inc., has been listening for months to financial advisers' worries about the Department of Labor's new fiduciary rule, which seeks to raise investment advice standards in retirement...

Broker-dealers split on commissions in wake of DOL fiduciary rule

October 30, 2016

After months of silence, large brokerage firms are beginning to announce their strategies to comply with the Labor Department's fiduciary rule. Morgan Stanley, Ameriprise Financial Inc., Raymond James Financial Inc. and Commonwealth Financial...

Raymond James will continue to allow commissions for IRAs under DOL fiduciary rule

October 27, 2016

Raymond James Financial Inc. on Thursday said it would continue to allow advisers to collect commissions for IRAs after the Department of Labor's fiduciary rule takes effect next year. During an earnings call, CEO Paul Reilly said that the firm...

Advisers managing $220 million in assets join Raymond James from UBS

October 25, 2016

Financial advisers managing $220 million in client assets joined Raymond James from UBS Financial Services. Harold 'Mac' MacFarland and Tadd Hicks earned in excess of $1.6 million in annual fees and commission, according to the statement released...

Finra suspends ex-LPL rep over unsuitable short-term trading of unit investment trusts

October 20, 2016

A former LPL Financial broker was suspended by the Financial Industry Regulatory Authority Inc. on Wednesday for engaging in unsuitable short-term trading of unit investment trusts as well as maintaining blank, signed forms in customer files....

Broker-dealers deploying advanced cybersecurity measures

October 17, 2016

The nation's large broker-dealers are helping to protect financial planners from the threat cyber criminals pose to their business, even as advisers themselves tend to underestimate the risk. Firms are moving beyond the typical warnings of avoiding...

LPL hired Goldman after receiving an unsolicited acquisition offer

October 13, 2016

After receiving an unsolicited offer from a potential buyer that it considered low, LPL Financial Holdings Inc. hired Goldman Sachs Group Inc. to evaluate the bid, according to sources inside and outside LPL who are familiar with the matter....

LPL Financial exploring potential sale: report

October 11, 2016

LPL Financial is exploring strategic alternatives, including a potential sale, according to a report late Tuesday from Reuters, which cited anonymous sources familiar with the matter. LPL would not comment on the report. “As a matter of policy,...

Texas broker-dealer fined $100,000 over variable annuity exchanges

October 6, 2016

A small, Texas-based broker-dealer has been fined $100,000 for failures in monitoring variable annuity exchanges, within months of firm executives being targeted in a pair of multimillion-dollar customer disputes involving variable annuities...

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