Scan of recent orders and reports from SEC, Finra shows the advice industry is already feeling the effects of fiduciary.
Three independent broker-dealers formerly operating under AIG's umbrella have been fined $7.5 million and ordered to pay restitution of $2 million to clients.
Wiser Financial Group joins broker-dealer formerly known as NFP Advisor Services.
Group has established a resource center on state laws and agencies to help vulnerable clients.
Many advisers and the firms they work for are still woefully unprepared for what lies ahead.
A Michigan pension plan says the company bought back shares at artificially inflated prices because of misleading statements it made about its financial condition.
Firm expects the fiduciary rule to be a catalyst for more advisory business and wants to help its advisers compete.
Policies and procedures which, when layered upon already onerous rules and regulations, fail to recognize advisers' years of experience and wisdom.
Court filings from the RCAP bankruptcy proceeding state that Cetera Financial Group's adviser headcount has fallen 4.3%.
The company doesn't specify how many of its 9,000 Cetera brokers will qualify, or any other details of the plan.
IBD sets plan a month after activist investor Marcato Capital took a 6.3% stake.
Suit alleges the private-equity firm is helping top brass break non-compete agreements and then hiring them.
Private-equity firms and an asset manager have been identified as among the broker-dealer network's new ownership.
They agree with intent of possible legislation, but worry about compliance costs.
Bill Morrissey will return to solely focusing on recruiting and branch development, while Andy Kalbaugh will be in charge of relationship management and business consulting for LPL's reps and advisers.
The company is actively exploring breaking into a U.S. net-lease REIT, an international net-lease unit and an asset management company that creates nontraded REITS and other alts.
Fines, levied in July and August, top $500,000; Voya Financial takes biggest hit
