Over four years, the New York-based broker-dealer failed to identify trading that was potentially excessive and unsuitable in hundreds of customer accounts, according to Finra.
A new compensation plan is among the changes the firm is preparing for advisers in 2022.
“We are probably working on more deals than I can ever remember," the Focus Financial CEO said as the company reported its third-quarter earnings.
Thomas Brenner, former CEO of First American Securities of Orrville, Ohio, is facing seven fraud charges linked to sales of private placements.
Ohio-based River Cities Financial Services is led by Michael Anthony.
William Neil "Doc" Gallagher courted victims with Bible-thumping zeal and loads of Texas charm.
Recruiting is no longer a straight-up proposition, such as moving a wirehouse adviser from Merrill Lynch to UBS, or vice versa.
Since 2020, LPL has signed three major agreements to provide retail brokerage and advisory services to banks and credit unions.
Raymond James was having to pay up to recruit advisers. Now, it's feeling the same pinch for employees.
The firm entered the bank broker business four years ago when it bought Investment Professionals Inc.
