Results for "regional brokerages"

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RIAs could be ultimate winners if DOL fiduciary rule is repealed or delayed

January 11, 2017

As potential delays and road blocks pile up in front the Department of Labor's fiduciary rule, an irony is emerging in that the strongest supporters of the rule could benefit the most from the rule's demise. Independent registered investment...

TruClarity targets midsize wirehouse breakaway reps to launch new RIA firms

January 6, 2017

A relative newcomer to the general concept of rollups and strategic acquirers, TruClarity is making a deliberate push for midsize wirehouse brokers looking to breakaway as registered investment advisers. Just 18 months old, TruClarity, based...

Raymond James recruits Oregon adviser from Morgan Stanley

January 4, 2017

Raymond James & Associates has recruited Portland, Ore.-based brokerage representative Katherine Fisher-Schultz from Morgan Stanley. Ms. Fisher-Schultz, who managed more than $170 million in client assets at Morgan Stanley, has joined Raymond...

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...

Finra bars former JP Morgan, RBC brokers

December 12, 2016

Finra on Friday barred two former brokers for violating firm policies, one from RBC Capital Markets and one from J.P. Morgan Securities. John Simpson, who has been registered with Finra since 1980 and worked at RBC from March 2009 to February...

Top regional fee-only RIAs

December 4, 2016

Northeastern success stories Rank Firm Phone Website Total assets ($M) Total accounts Employees 1 Silvercrest Asset Management Group (212) 649-0600 silvercrestgroup.com $31,199.2 1,068 117 2 Veritable (610) 640-9551 veritablelp.com $13,588.5...

Tom James to step down as chairman of Raymond James early next year

December 1, 2016

Tom James will step down as chairman of the board of Raymond James Financial, the firm his father founded in 1962, the company announced Thursday. The 74-year-old Mr. James, who will officially relinquish the chairman's seat at the company's...

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...

Independent broker-dealers boost tech spending

November 27, 2016

In a survey fielded late this summer, InvestmentNews found that the typical independent broker-dealer spent $13.6 million on technology in 2015, representing 7.1% of their total operating expenses and 2.2% of their annual revenues. With the...

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....

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...

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...

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...

Morgan Stanley: DOL fiduciary rule turns brokerage business into a buy

September 28, 2016

Morgan Stanley believes the DOL rule is making the brokerage business a more interesting investment category. Something about a $22 trillion opportunity. “This opens up a larger addressable market than was possible in the past.” Would a...

Stifel to acquire Indiana underwriter, wealth manager

September 13, 2016

Stifel Financial Corp. has scored another wealth management and investment banking acquisition, announcing Tuesday it had agreed to buy City Financial Corp. Indianapolis, Ind.-based City Financial is the parent of City Securities Corp., an independent...

RIA moving $300M in client assets to Raymond James

August 8, 2016

A registered independent adviser with more than $500 million in client assets is joining Raymond James Investment Advisors Division. WealthSource Partners, based in San Luis Obispo, Calif., is bringing over $300 million in assets that had been...

Raymond James adds $400M bank team to its financial institutions division

August 2, 2016

A team of advisers providing financial advice through a Texas bank has moved from Cetera Investment Services to Raymond James' financial institutions division. The group of seven advisers and seven assistants at First Financial Bank in Abilene,...

The SEC's case against Dawn J. Bennett

July 10, 2016

By all outward appearances, Dawn J. Bennett was a success. Barron's magazine named her three times to its lists of top financial advisers, showing her managing more than $1 billion in client assets. She often was quoted in the media and had...

Royal Alliance lawyers capitalize on Finra's broken BrokerCheck

June 22, 2016

The wacky world of Wall Street's homegrown justice system was on full display last week when Royal Alliance attorneys fought to scrub the tarnished record of former broker Kathleen Tarr, who is saddled with 44 customer disputes. Have lawyers,...

Broker-dealers face rising compliance costs from DOL rule, pricing competition from robo-advisers

June 8, 2016

At the same time they are facing increased costs to comply with the Department of Labor fiduciary rule, brokers-dealers are facing increased pressure on their fees from robo-advisers, according to executives at clearing and custody firm Pershing....

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