The new CEO confronts a series of daunting questions as he settles into his new role at the embattled broker-dealer. Read more about the <a href="//www.investmentnews.com/article/20160901/FREE/160909997/cetera-names-robert-moore-ceo-replacing-larry-roth"" target=""_blank"" rel="noopener noreferrer">management turnover at Cetera</a>.
A 13-year veteran of LPL, Jeffrey Buchheister was most recently executive vice president and chief accounting officer.
People inside and outside the company say word of the new chairman has already given a lift to morale of advisers.
CEO Ron Kruszewski had indicated in November that the B-D's lower margins were dragging down the wealth management group.
Company founded by one-time real estate mogul Nicholas Schorsch announces $3 million settlement with Massachusetts Securities Division and said it will lay off nearly 150 employees.
The tax code says fines paid to a government "agency or instrumentality" for violation of a law aren't tax-deductible.
Cetera CEO Larry Roth says the company is shedding the RCS Capital name, officially putting the Nicholas Schorsch era behind it.
CEO Larry Roth acknowledges that the company has been looking at senior management structure.
The company remains mum about reports that Mr. Roth has been replaced by chairman Robert Moore as CEO. <i>Plus: <a href="//www.investmentnews.com/article/20160815/BLOG09/160819961/key-principles-to-guide-corporate-governance-procedures-for-the-ibd"" target=""_blank"" rel="noopener noreferrer"> Mr. Roth and Mr. Moore discuss the principles they developed for Cetera's board</a></i>
Mr. Moore, Cetera's non-executive chairman, will take over the reins Sept. 12.
A board of directors should exist to serve the interests of the company and its key stakeholders &mdash; not the other way around.
Joseph J. Lampariello also ordered to pay nearly $40 million in restitution.
Preferred Apartment Communities Inc. is selling nontraded preferred shares to help fund its growth, giving brokers a 7% commission.
New regulation was catalyst for broker-dealer to impose uniformity, says LPL Financial's Mark Casady.
The adviser boycotted her enforcement hearing, but that may not stop the regulator from throwing her out of the securities industry.
Lobbying group's chairwoman said its biggest member firm bolted after it couldn't get a break on annual dues for large firms.
The expense speaks to the difficulty broker-dealers are facing to comply with the controversial new regulation.
Firms today must do much more in their relationship with advisers to keep them satisfied.
A side firm has brought a Finra arbitration claim against five of the advisers, who have filed a counterclaim in federal court.
