A former middle school and high school English teacher, Bruce Kelly started at InvestmentNews in 2000 as the brokerage reporter after a two-year stint at sister publication Pensions & Investments. He writes a bi-weekly, award winning column, On Advice, and covers the independent broker-dealer industry.
Ten percent have exited to date; rival PrimeVest main beneficiary so far
Firms said to be on short list of acceptable buyers; PE outfit also thought to be lurking about
Silverman leaves on-the-block firm; second defection in June
Sticking to a quantitative investment philosophy has helped William Bannick and his Managers Cadence Emerging Companies Fund Ticker:(MECIX)…
The tentacles of litigation stemming from a series of oil and gas private placements that failed…
Securities America Inc. last week took the unusual step of asking its 1,800 reps and advisers to sign a “letter of support” to indicate their intention to remain at the firm — a development that some observers took to mean that a sale of the troubled broker-dealer could be imminent.
Industry veteran ran Merrill Lynch's clearing service for seven years; most recently CEO of Century Securities Associates
Ameriprise Financial Inc. last week put on the block one of the most prominent independent broker-dealers in the industry, its subsidiary Securities America Inc., but no clear buyer has emerged
Another small broker-dealer that sold high-risk private placements is out of business
In what can only be viewed as a surprise outcome, an independent broker-dealer has won a rare legal victory in the continuing scrum over private placements that has forced several broker-dealers to shut down
