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.
Paul Landaiche will help advisers in Dynasty's network make acquisitions.
Newcomer hires $120 million team in a rare move between roll up and service provider
The broker-dealer acknowledges the growing importance of its fee and advisory businesses
Raymond Schmidt borrowed some $2.25 million from customers to build an island retreat without notifying his firm, Finra said.
Declines in transaction revenue and slower growth in fee revenue hampered performance.
The regulator is still doing research, but expects to move forward in the “short term,” said Susan Axelrod, executive vice president of regulatory operations.
Some of the biggest adviser moves in 3Q were teams who left wirehouses to join firms that offered company shares for those willing to take the risk. Plus: Check out IN's Advisers on the Move database.
Many advisers are trying to decide whether to offer a digital advice platform and how to incorporate and price the service. (Don't miss: 10 top robo-advisers to watch)
Over 60 brokers have jumped to LPL since October, MetLife alleges; former brokers strike back, accusing the insurance company of poor practices.
Overall, both wirehouses and RIAs brought in around half of what they had been adding in previous years.
