The Financial Services Institute Inc. hopes to bend the ear of the consulting firm chosen by the Securities and Exchange Commission to consider the effect on investors of applying differing regulatory standards to broker-dealers and investment advisers.
NEW YORK — Commonwealth Financial Network of Waltham, Mass., said it is giving pay raises to 400 of its advisers effective April 1, increasing the payout for advisers once they reach $25 million in assets on the firm’s proprietary managed money system.
A former Wachovia Securities LLC branch manager in Toledo, Ohio, has been charged with stealing between $17 million and $40 million from about 45 investors by using a Ponzi-type scheme, according to the Department of Justice.
After eight months of negotiations, LPL Financial Services Inc. last Thursday finalized the details of its acquisition of three broker-dealers owned by Pacific Life Insurance Co. of Newport Beach, Calif.
After eight months of negotiations, LPL Financial Services Inc. this morning finalized the details of its acquisition of the majority of the broker-dealers owned by Pacific Life Co. of Newport Beach, Calif.
Yet another chief executive of a Pacific Select Group LLC broker-dealer is leaving his respective firm, making for a near-complete overhaul in top management of the four broker-dealers in the Pacific Select network.
Two of the biggest names — and personalities — until recently associated with Royal Alliance Associates Inc. now are attempting to build national firms.
After spending the past three years cozying up to securities regulators at NASD, independent-contractor broker-dealers are fearful that state regulators pose an increasing threat.
Like their clients, advisers and registered representatives are getting older and often worry about their futures.
One of the founders of Financial Network Investment Corp., the largest independent-contractor broker-dealer in the ING Advisors Network Inc., walked out the door last month and joined NFP Securities Inc., leaving some observers to wonder how many registered representatives affiliated with FNIC eventually could follow.
Three executives of National Planning Corp., Sean Haley, Bryan Jacobsen and Austin Moon, have received promotions.
