This dispute centered on a group of Stifel Financial advisors who left the firm two years ago to an RIA.
Janney Montgomery Scott's president and CEO tells IN about the firm's acquisition by KKR, the equity ownership arrangement for all its advisor employees, and how it plans to continue for another 200 years.
"I've seen lots of denial in this business but this GPB thing take the cake," says one industry executive.
Former advisor alleges an incentive for veteran advisors to give business to women and nonwhite rookies disadvantages straight white male advisors.
The share price of B. Riley financial has plummeted 78.5% over the past year.
The firm's new offering, targeted toward investors with at least $10 million, will put it head-to-head against some of Wall Street's biggest names.
Beneficient, an alternative investment company and formerly a part of GWG, has offered $50.5 million to settle claims related to federal lawsuits.
Meanwhile, Finra’s fines against the brokerage industry declined in 2024.
The large award comes at a time when the wealth management industry is seeing leading firms sue each other over recruiting each other’s financial advisors.
And GPB founder David Gentile and ex-broker-dealer chief Jeff Schneider want the company to continue paying legal expenses.
Ameriprise, LPL and Morgan Stanley were among those impacted as firms suffer more than the broader market.
It’s an unannounced leadership shift at a broker-dealer working to rebrand.
The six-advisor ensemble based in California marks the latest and largest departure from the Wall Street giant to the broker-dealer titan in the past year.
Ameriprise has targeted LPL in at least four complaints sinch January 2024, alleging its competitor had unfairly hired its financial advisors.
The deal adds roughly 350 financial professionals overseeing more than $12 billion in assets under administration and $4 billion in AUM to Cetera's network.
The wirehouse's "strong investment in technology and AI has improved financial advisor productivity," KBW's David Konrad said.
The company last week reported a 57 percent increase in loans made to advisors in 2024.
The broker-dealer behemoth is addressing demand from high-net-worth advisors and investors with a new partnership, while deepening its collaboration with SS&C and iCapital.
According to his BrokerCheck report, Roger A. Gallagher was charged last August with two felony counts and he pleaded not guilty to both.
Notes from the January meeting show Federal Reserve officials are staying cautious after 2024 cuts, with several hoping for further progress towards 2 percent.
