Results for "regional brokerages"

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Top Waddell & Reed team bolts to form RIA

August 22, 2018

Waddell & Reed continues to lose reps and advisers. Most recently, a veteran, award-winning team in Northern California that produced $1.6 million in annual revenues bolted to start their own RIA. Elaine and Scott Manley both left Waddell &...

Back office should be top of mind for growing advisory firms

July 24, 2018

Recently, a colleague of mine suggested that "back office" should be considered a bad word, because it's where things go wrong without accountability. I respectfully disagree. The back office plays a major role in delivering a client service...

D.A. Davidson expands with hires from Merrill Lynch

June 25, 2018

D.A. Davidson & Co., a broker-dealer headquartered in Great Falls, Mont., has recruited eight financial advisers in the past two months, including four from Merrill Lynch. "Our recruiting from wirehouses has picked up," said Michael Purpura,...

Finra to overhaul broker information system, cut compliance costs for broker-dealers

June 14, 2018

The Financial Industry Regulatory Authority Inc. said Thursday it is going to overhaul its registration and disclosure programs, starting with a new web-based system for the data that provides the backbone for BrokerCheck, a database of hundreds...

Baird snags another Morgan Stanley Smith Barney team

March 29, 2010

Robert W. Baird & Co. Inc. has made another addition to its wealth management business, this time snatching a $150 million adviser team from Morgan Stanley Smith Barney LLC. Russ Guard, a 15-year veteran of Smith Barney, and Jacob Duffy, who...

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...

Financial Focus takes $446 million in assets from NPC to Securities America

November 16, 2017

Financial Focus, a hybrid RIA managing $446 million in assets in Carlsbad, Calif., has switched affiliations from National Planning Corp. to Securities America. The all-female advisory firm, founded in 1984, specializes in serving women investors....

INsider: Edward Jones contract — new or not — perplexes brokers

December 11, 2012

A small but intense burst of confusion was created last Friday by a report that Edward Jones had placed new and unprecedented levels of restriction on brokers who want to leave the firm. It turns out that those restrictions, while harsh, are...

Fifth generation rides Edwards brands toward RIA market

March 23, 2018

Ten years after launching his own brokerage business and riding the breakaway broker wave to more than $23 billion under management, Benjamin F. "Tad" Edwards IV sees a fresh opportunity in the registered investment adviser channel. Mr. Edwards...

Finra bars former broker over unauthorized use of discretion

October 11, 2017

The Financial Industry Regulatory Authority has barred former broker Kenneth Neuner after he failed to appear at a hearing looking into his unauthorized use of discretion. Mr. Neuner had been employed by Summit Brokerage Services until March,...

Financial industry steps up in Harvey's wake

August 31, 2017

As downgraded-to-a-tropical-depression Harvey moves across the country, the damage in its wake has left at least 32 people dead and displaced more than 32,000 Gulf Coast residents. Also in the storm's wake: a financial services industry that...

Pennsylvania slams midsize broker-dealer with $500,000 fine

July 20, 2017

The Pennsylvania Department of Banking and Securities this week slammed Newbridge Securities Corp. with a $499,000 fine for failing to supervise a broker in connection with sales of structured products to his clients in the state. "From in or...

Jones moves to capitalize on fee business

August 18, 2013

Edward Jones' decision to start selling proprietary investment products is a sharp departure from its past practice but makes perfect sense when you look at where the company's revenue increasingly is being generated. After launching a fee-based...

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...

The Reformed Broker: The day I realized 'the end was near'

April 9, 2012

The following is an excerpt from Backstage Wall Street: An Insider's Guide to Knowing Who to Trust, Who to Run From, and How to Maximize Your Investments, written by Josh Brown, vice president and financial adviser at Fushion Analytcis Investment...

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...

UBS team managing $440 million moves to Raymond James

December 14, 2017

A team with three advisers and two associates managing $440 million at UBS has joined the employee channel of Raymond James Financial in Winter Park, Fla. Michael Zizmer, one of the lead advisers on the team, began his financial services career...

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...

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...

Barred-broker-turned-politician sued by Baird

April 29, 2010

Robert W. Baird & Co. has filed a civil lawsuit against Kevin O'Brien, a former broker, for allegedly stealing hundreds of thousands of dollars from a client. The lawsuit may pave the way for citizens of a Cincinnati suburb to oust Mr. O'Brien...

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