Brokerage executives are slamming the SEC's proposal to allow broker-dealers to set their own sales charges on mutual funds, claiming that it could create problems for both the industry and individual investors.
When HighTower Advisors LLC was launched in 2008, its pedigree and promise caught the industry's attention and the interest of a number of highly successful advisers.
When it comes to controlling client assets, LPL Investment Holdings Inc.'s recent IPO registration offers clear proof that the remaining four wirehouse broker-dealers still dwarf the more diverse galaxy of independent broker-dealers.
LPL Investment Holdings Inc. today said it has sealed the deal with the executive who has overseen the company's growth and its march to an IPO.
Joseph B. “Joby” Gruber, the former CEO of AIG broker-dealer FSC Securities Corp. who was forced to resign after Finra accused him of allowing an underling to take continuing-education exams in his name, is back in the independent broker-dealer business.
Embattled broker-dealer Jesup & Lamont Securities Corp. was dealing with other serious regulatory matters in the weeks before Finra last week ordered the firm and its 300 reps to cease conducting business.
In an age of automation, broker-dealers interested in alternative investments -- hedge funds, LLPs,, non-traded REITs and the like -- still rely on phone calls and faxes to conduct transactions. A new platform could change all that.
Bambi Holzer hit with client complaint over selling of risky offerings; broker has appeared on 'Today,' CNN and CNBC
With the sale of private placements facing intense scrutiny from securities regulators, one due diligence attorney has fired off a potent missive to Finra officials about clients' responsibilities when buying the high risk deals.
