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Eyeing assets, custodians aim to help advisers grow
Competition is stiffening among firms that keep assets under custody — and that situation could lead to cheaper, faster and better business for independent registered investment advisers.
LPL poised for acquisitions
LPL Financial, the nation's largest independent-contractor broker-dealer, is on the lookout for plum acquisition candidates, although a top executive says growth through current advisers is the company's prime goal.
Berthel Fisher’s president, Jeff Auld, exits the firm
Jeff Auld, the president of Berthel Fisher and Company Financial Services Inc., has left the company for personal reasons.
Indie brokers wary about CFP Board’s ethics code
Independent-contractor broker-dealers are gnashing their teeth over the possible consequences of an updated professional code of ethics for certified financial planners, coming this summer.
Independent Broker-Dealers: Top indie B-Ds report 26.6% revenue jump in 2007
The nation's top 25 independent-contractor broker-dealers reported a staggering 26.6% increase in gross revenue last year to $13.52 billion, from $10.68 billion in 2006.
Independent Broker-Dealers: Personal touch by small B-Ds keeps them competitive
Despite a bruising, competitive market that some say is inhospitable to their survival, many small independent-contractor broker-dealers see plenty of opportunity.
GunnAllen and former executive claim victory in arbitration ruling
Both GunnAllen Financial Inc. and a former top executive are claiming victory after a lengthy arbitration battle that focused on whether the independent broker- dealer had the right to fire David McCoy, its former chief operating officer and national sales director, who was dismissed in 2005.
B-D execs take wait-and-see approach on Bear Stearns clearing unit
Broker-dealer executives whose firms clear trades through and use the custody services of Bear Stearns Securities Corp. say that their fears have been calmed for the moment by the deal under which JPMorgan Chase & Co. will acquire parent company The Bear Stearns Cos. Inc.
National Planning Holdings unveils surprising pay plan
Last year, National Planning Corp. and its sister broker-dealers shocked the independent-contractor broker-dealer industry with its lucrative recruiting packages to independent representatives.
Advanced Equities gears up to go public
Advanced Equities Financial Corp., a Chicago-based securities firm that has carved a niche of financing companies backed by venture capital firms, is preparing for an initial public offering.
Becoming a thriving enterprise
Financial advisory firms have evolved from home-based businesses, to one-man shows, to full-fledged, thriving enterprises with multiple professionals and sometimes many staff members.
Round Table: Regulation – Round-Table discussion transcript
The following is an edited transcript of the round-table discussion.
Indie broker-dealers welcome SEC plan
The SEC's proposed changes to Regulation S-P may slow down recruiting of independent reps, but executives with independent broker-dealers nonetheless are relieved that the agency has given some potential guidance on the issue.
Independents ahead in retirement race
It's early in the game, but independent advisers appear to be winning the competition to lure retirement assets, according to the management consulting firm McKinsey & Co.
RIAs poised to capture retiring boomers’ assets
Registered investment advisers seem to be winning the race to capture the retiring-baby-boomer market, according to Charles "Chip" Roame, managing principal of Tiburon (Calif.) Strategic Advisors LLC, who spoke at the TD Ameritrade Partnership 2008 Conference in Orlando, Fla. this month.
IMCA attracting more independent planners, advisers
The Investment Management Consultants Association has been attracting more independent planners and advisers.
LPL’s CIO says tools are sound
LPL Financial will increase its spending on monitoring tools and in other areas to make sure it does not experience a repeat of last year's technology glitches, according to its new chief information officer.
Next Financial, Raymond James reach settlements
A broker who was recently booted from the securities industry has cost Next Financial Group Inc. and Raymond James Financial Services Inc. dearly — with the two firms paying out almost $850,000 to settle cases involving clients who got burned.
RJ eyed as takeover target, report says
Raymond James' asset-management unit and its bank could be worth close to $4 billion, according to Barrons.
Independent Broker-Dealers: Independent B-Ds facing tough times
After a sterling 2007, leading independent-contractor broker-dealers are facing a horde of significant problems this year, with the subprime-mortgage crisis, skyrocketing gas and oil prices and the threat of a recession the most daunting.
