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.
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.
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.
The Investment Management Consultants Association has been attracting more independent planners and advisers.
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.
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.
Raymond James' asset-management unit and its bank could be worth close to $4 billion, according to Barrons.
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.
The typical American financial adviser is 50.4 years old, works with 250 to 500 clients and manages $25 million to $100 million in assets.
Asset management might be at the heart of what drives an individual toward financial advice, but savvy financial planners are realizing that it takes more than asset management to bring lasting value to the advisory relationship.
Ameriprise Financial Inc. has experienced the defection of another top representative, this time a leading producer in its franchisee group, to LPL Financial.
As Securities America Inc. deals with the sting of losing one of its biggest advisers, the independent broker-dealer continues to tighten its compliance practices and procedures.
Raymond James Financial Inc. of St. Petersburg, Fla., last month rolled out a series of research reports on variable annuity riders designed to help its reps sort through the confusing array of products.
One of the most useful ways for the registered representative to envision the [arbitration] process is to realize that it is a marathon and not a sprint.
A number of top independent-contractor broker-dealers have recently reached a variety of records and milestones, from best-ever revenue to increasing revenue from fees rather than commissions.
Ladenburg Thalmann Financial Services Inc.'s acquisition last week of Investacorp Inc., could position the latter to be more active in recruiting representatives and financial advisers, as well as potentially buying smaller firms.
One of the nation's top-producing independent brokers is under investigation by Michigan securities regulators.
In an effort to get more wirehouse brokers to break away and become independent registered investment advisers, Schwab Institutional plans to roll out today an all-in-one benefits and payroll package designed for the newly independent RIA.
A.G. Edwards & Sons Inc. has sued more brokers who left the firm in the wake of its recent merger with Wachovia Securities LLC.
Under regulations governing the securities industry, it's not enough for firms merely to archive e-mails; they must be able to furnish them to regulators “promptly.”
