$150 million acquisition adds about 730 advisers and independent reps managing more than $20 billion in client assets to the St. Louis firm run by Ron Kruszewski.
Information will help advisers evaluate current offerings in $20 billion industry.
Completes purchase of Girard Securities, the second independent broker-dealer acquisition in as many weeks
New share class dubbed a “T share” cuts upfront commission brokers are paid but creates an annual trailing commission.
Despite lackluster sales of commission-rich products, 2014 revenues grew in line with the broad market. What does 2015 have in store? </br><b><i>(Plus: <a href="//www.investmentnews.com/section/specialreport/20150426/IBD042015"" target=""_blank"" rel="noopener noreferrer">Our full Top Independent B-Ds of 2015 special report</a>)</b></i>
Regulator charges Kimberly Springsteen-Abbott with misusing investors funds, fines her $100,000.
The $1.15 billion deal brings in 6,600 reps and four B-Ds under the RCAP umbrella.
CEO Mark Casady takes biggest hit; $1.5M bonus is down 41% from previous year
Nick Schorsch, who over the past five years grew to dominate the nontraded REIT business, this week put the independent broker-dealer industry on notice that he is a force to be reckoned with in that industry as well, with two deals in two days that would put his network second to LPL in rep headcount.
The latest pretend adviser to emerge, Leroy Brown Jr., may win a grand prize for lying.
