Mason Braswell writes about all things related to wirehouses and registered investment advisers for InvestmentNews. Since graduating from New York University in 2012, he has been covering the business of financial advice. In his spare time, Mason can be found wandering the street of New York City with his camera. Follow him on Twitter @masonbraswell for updates on wirehouses, RIAs and regulatory issues facing the industry.
Proposal from FinCEN would have investment advisers monitor and report questionable activity under the Bank Secrecy Act.
Regulator bars owner of Total Wealth Management, Jacob Cooper, known as 'Main Street Madoff' by former clients, and holds him liable in case where losses are expected to total as much as $44 million.
The $5.4 billion deal could have RBC's regional wealth management business looking more like a wirehouse or private bank than a regional firm.
As part of her claim, ex-broker alleges the wirehouse's recent move toward mandatory arbitration is an attempt to prohibit employees from publicly challenging unfair practices.
With giant broker-dealer's stock down 25% from its high last year, experts say Marcato could push for major changes.
The wirehouse has become more aggressive and has attracted some big teams, though critics say such deals aren't a good measure.
The third billion-dollar-plus team to leave Morgan this summer is the latest in a series of big swaps.
Firms are making more and bigger deals as market growth boosts valuations and fuels activity.
Four months after joining the board of directors of RCS Capital, the Cetera CEO is stepping down. The company insisted his resignation was not related to a disagreement.
Bob Mulholland, who oversaw the firm's 7,000 advisers and helped engineer a turnaround in the wirehouse's brokerage unit, will be replaced by UBS vet Brian Hull.
