The collapse of Brookstreet Securities Corp. last month is likely to spawn dozens of arbitration claims from investors facing losses that, in some cases, run into the millions, according to one plaintiff’s attorney familiar with the matter.
A battle in California over whether representatives at two broker-dealers are employees or independent contractors could have far-reaching implications at independent broker-dealers across the country
The independent-contractor-brokerage industry continues to see consolidation.
Rumors are swirling that Legent Clearing LLC is about to be bought by private-equity investors — just months after a previous attempt to buy the firm failed.
This year has meant big changes for some superstar financial advisers, with the latest, Ric Edelman, expressing his deep displeasure with the economics of the independent-brokerage business
Larry Roth is chief executive of Advisor Group, the independent-broker-dealer subsidiary of American International Group Inc. In that role, he oversees more than 600 employees who serve 4,800 financial advisers affiliated with FSC Securities Corp., Royal Alliance Associates Inc. and SagePoint Financial Inc.
Western & Southern Financial Group yesterday said it had sold the assets of its independent broker-dealer, Capital Analysts Inc., to Lincoln Investment Planning Inc.
COR Securities agrees to buy clearing firm, makes offer for holding company of two indie B-Ds
No matter how you slice the data, Commonwealth Financial Network LLP comes out as one of the top independent broker-dealers in the nation — and a big part of that success has been its technology.
Facing tremendous economic pressure and regulatory hurdles, small and midsize broker-dealers will continue to close, leaving hundreds and perhaps thousands of registered representatives and investment advisers seeking new homes for their books of business next year, executives and consultants said.
Peter Schiff, CEO and strategist for Euro Pacific Capital, stopped by the <i>InvestmentNews</i> offices for a chat with Deputy Editor Evan Cooper - and Mr. Schiff offers some pointed views on regulation of brokers and advisers.
An independent broker-dealer has taken a flyer on an Occupy Wall Street protester.
The IRS is giving broker-dealers a chance to come clean on classifying independent contractors, but firms that fess up will take on the increased cost of following the letter of the law.
A bill in California bill that would punish firms for misclassifying employees as independent contractors was amended to lighten the compliance burden for broker-dealers.
State regulators have signaled a push for recalculating reserve requirements on a certain type of universal-life insurance, a change that could lead to higher costs for policyholders, as well as fewer insurers' selling the product
As sponsors of nontraded real estate investment trusts continue their full-court press on sales, some independent broker-dealers are dialing back their level of risk and have cut back, or are considering reducing, the number of REIT products they allow their representatives to sell
Don't worry about a double dip, says Raymond James' chief investment strategist Jeff Saut.
Broker-dealers now have a low-cost way to clear their slate with the IRS if they have been misclassifying employees as independent contractors
Rumors have been swirling for months about who would acquire Securities America, the embattled broker-dealer. On Wednesday, the guessing-game ended, as parent Ameriprise sold the B-D to Ladenburg Thalmann.
Another independent broker-dealer that sold high-risk private placements is hanging on by a thread, with the firm's management stating grave concerns about the broker-dealer's future
