Independent Broker Dealers

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FINRA snapshot shows concentration in largest firms, coastal states
INDEPENDENT BROKER DEALERS JUL 11, 2025
FINRA snapshot shows concentration in largest firms, coastal states

The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.

By Leo Almazora
SEC spanks closed Osaic RIA for conflicts, over-charging clients on alternatives
INDEPENDENT BROKER DEALERS JUL 11, 2025
SEC spanks closed Osaic RIA for conflicts, over-charging clients on alternatives

With more than $13 billion in assets, American Portfolios Advisors closed last October.

By Bruce Kelly
William Blair taps former Raymond James executive to lead investment management business
INDEPENDENT BROKER DEALERS JUL 11, 2025
William Blair taps former Raymond James executive to lead investment management business

Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.

By Leo Almazora
Advisor moves: RBC swipes $1.7B UBS team, Baird duo departs for LPL's Linsco channel
INDEPENDENT BROKER DEALERS JUL 10, 2025
Advisor moves: RBC swipes $1.7B UBS team, Baird duo departs for LPL's Linsco channel

RBC Wealth Management's latest move in New York adds an elite eight-member team to its recently opened Westchester office.

By Leo Almazora
AI is gaining traction with buy-side equity traders and may be an unstoppable force
FINTECH JUL 09, 2025
AI is gaining traction with buy-side equity traders and may be an unstoppable force

Use of the technology is growing and asset managers see transformative benefits.

By Steve Randall
Advisor moves: Father-son duo leaves Raymond James for LPL, RayJay adds Merrill Lynch alum in Florida
INDEPENDENT BROKER DEALERS JUL 08, 2025
Advisor moves: Father-son duo leaves Raymond James for LPL, RayJay adds Merrill Lynch alum in Florida

Meanwhile, Osaic lures a high-net-worth advisor from Commonwealth in the Pacific Northwest.

By Leo Almazora
Cetera names Richard Vogel to lead Cetera Advisors community
INDEPENDENT BROKER DEALERS JUL 08, 2025
Cetera names Richard Vogel to lead Cetera Advisors community

The giant broker dealer and RIA overseeing roughly $554 billion in AUA has appointed a Merrill and BofA alum to support advisor growth.

By Leo Almazora
Five-person Raymond James team jumps to Janney in Maryland
INDEPENDENT BROKER DEALERS JUL 07, 2025
Five-person Raymond James team jumps to Janney in Maryland

The group led by a 37-year industry veteran brings $470 million in assets to the Philadelphia-based broker dealer.

By Leo Almazora
$350M father-son duo hops from Osaic to Equitable Advisors
INDEPENDENT BROKER DEALERS JUL 07, 2025
$350M father-son duo hops from Osaic to Equitable Advisors

The latest departures in Ohio mark another setback for the hybrid RIA, which is looking to "expanding its presence across all models and segments of the wealth management industry."

By Leo Almazora
Raymond James hauls Ameriprise advisors managing $1.1B in New York
INDEPENDENT BROKER DEALERS JUL 02, 2025
Raymond James hauls Ameriprise advisors managing $1.1B in New York

Elsewhere, Sanctuary Wealth recently attracted a $225 million team from Edward Jones in Colorado.

By Leo Almazora
Cetera debuts new alts allocation portfolios for accredited investors
ALTERNATIVES JUL 02, 2025
Cetera debuts new alts allocation portfolios for accredited investors

The giant hybrid RIA is elevating its appeal to advisors with a curated suite of alternative investment models, offering exposure to private equity, private credit, and real estate.

By Leo Almazora
This viral motivational speaker can also be your Prudential financial advisor
INDEPENDENT BROKER DEALERS JUL 01, 2025
This viral motivational speaker can also be your Prudential financial advisor

Prudential's Jordan Toma is no "Finfluencer," but he is a registered financial advisor with four million social media followers and a message of overcoming personal struggles that's reached kids in 150 school across the US.

By Andrew Cohen
Advisor moves: LPL adds ex-Osaic advisor in Fresno, RBC plants a new stake in Nashville
INDEPENDENT BROKER DEALERS JUL 01, 2025
Advisor moves: LPL adds ex-Osaic advisor in Fresno, RBC plants a new stake in Nashville

Meanwhile, a Minnesota-based advisor from Edward Jones has found a new home within Osaic.

By Leo Almazora
What does a typical financial advisory firm look like today?
INDEPENDENT BROKER DEALERS JUL 01, 2025
What does a typical financial advisory firm look like today?

With an aging advisor population, report looks at demographics, structures.

By Steve Randall
Holtschlag joins LPL Financial to spearhead a specific area of growth
INDEPENDENT BROKER DEALERS JUL 01, 2025
Holtschlag joins LPL Financial to spearhead a specific area of growth

Formerly Fidelity Investments leader will drive move to comprehensive services.

By Steve Randall
Edward Jones to bring overlay management in-house with Natixis deal
INDEPENDENT BROKER DEALERS JUN 30, 2025
Edward Jones to bring overlay management in-house with Natixis deal

The broker-dealer giant's latest acquisition agreement extends its push towards offering enhanced financial planning and investment management.

By Leo Almazora
Cambridge Investment Research snags giant hybrid office with $11.9 billion in assets from Osaic
INDEPENDENT BROKER DEALERS JUN 27, 2025
Cambridge Investment Research snags giant hybrid office with $11.9 billion in assets from Osaic

RIA assets are key for broker-dealers right now.

By Bruce Kelly
'Independence Stories': Don't let fear of the unknown hold you back
PRACTICE MANAGEMENT (GORIA) JUN 26, 2025
'Independence Stories': Don't let fear of the unknown hold you back

Financial advisor Stephen Davis shares the lessons he learned after leaving a national broker/dealer to set up his own shop in the first of a new InvestmentNews series in advance of Independence Day.

By Gregg Greenberg
Citizens adds $1.5 billion New York team as it accelerates wealth push
INDEPENDENT BROKER DEALERS JUN 26, 2025
Citizens adds $1.5 billion New York team as it accelerates wealth push

The firm expands its Tri-State presence with a veteran advisor group from New York, while LPL and Osaic also report smaller additions in Texas and the Hudson Valley.

By Leo Almazora
Wealth managers must prioritize advisor enablement to drive organic growth
INDEPENDENT BROKER DEALERS JUN 26, 2025
Wealth managers must prioritize advisor enablement to drive organic growth

Industry at a ‘pivotal juncture’ as some traditional levers of growth become unreliable.

By Steve Randall