Broker-dealer powerhouse LPL on Wednesday announced it's rejiggering its top brass. The main move: firm veteran Esther Stearns is being moved out to head a new subsidiary.
Pair of firms ranked No. 1 in J.D. Power and Associates for second year in a row
The following is an excerpt from <a href=http://www.amazon.com/Backstage-Wall-Street-Insider%252019s-Investments/dp/007178232X/ref=sr_1_1?ie=UTF8&qid=1333988682&sr=8-1>Backstage Wall Street: An Insider's Guide to Knowing Who to Trust, Who to Run From, and How to Maximize Your Investments</a>, written by Josh Brown, vice president and financial adviser at Fushion Analytcis Investment Partners.</a>
Lincoln Investment Planning Inc., a fast growing independent broker-dealer, is hitting its reps and advisers who run their own RIAs with a new, annual supervision and compliance fee of up to $20,000.
Chairman and CEO of Advanced Equities told they're under investigation by the SEC; sold B-D last year
There's no letup in sight for broker-dealer closings. Today, MCL Financial -- yet another small brokerage that focused on selling illiquid alternative investments -- has been shuttered.
LPL posted a profit for the fourth quarter, but missed its earnings estimates causing the stock to drop nearly 10% today.
For many, 2011 will be remembered as the year the broker-dealer model cracked. Scores of independent firms shut down, unable to keep up with rising legal and compliance expenses.
Another week, another potential suitor of Morgan Keegan & Co. is reportedly out of the picture.
The trickle of advisers leaving Morgan Keegan & Co. since it was put on the block by parent Regions Financial Corp. in June is picking up volume.
Accounting firms would have to consider how much risk their clients take when auditing brokerage firms under rules proposed by the Public Company Accounting Oversight Board.
