Vereit, formerly American Realty Capital Properties Inc., is selling Cole Capital as it exits the nontraded REIT business.
In the little more than a year since he stepped in as CEO, Mr. Moore has made great strides in turning around the broker-dealer network after its parent company went through a painful — and very public — bankruptcy.
Although a common cost estimate is 100 basis points of assets under management, a new Personal Capital report finds advisory fees at large firms ranging from 1.25% to 3%.
Professional Investors Network, with 70 advisers and $1.7 billion in assets, was affiliated with NPH.
Rivals have picked off some big NPH teams, but LPL said it is getting the lion's share of revenue from the acquisition.
Advisers bringing in enough accounts will be rewarded, those falling short will see compensation cut.
The independent broker-dealer is increasing reimbursement fees for advisers using its strategic asset management platform, or SAM.
Some reps, including those already thinking of leaving, say the firm only cares about the bottom line.
Two of the three Finra arbitrators split their decisions in the case of James E. 'Jeb' Bashaw, a one-time star at LPL who was fired in 2014.
Brokers moving to a new firm would be forbidden for 12 months from contacting clients once they left.
