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.”
Financial advisers don't suffer from a lack of client data, but too many providers don't offer such data in a consolidated fashion, forcing advisers to find certain types of information on their own.
Given the voracious appetite of broker-dealers, there simply aren’t enough big-producing brokers available for recruitment, according to a new industry report.
In a marketing and business coup, Pershing LLC has hired Mark Tibergien, a leading consultant in the financial advice industry.
Industry observers and financial advisers are welcoming a series of management changes announced Tuesday by AIG Advisor Group Inc., which hopes the changes will lead to better services for advisers.
