2020 was the year that independent broker-dealers needed to rely on technology more than ever, with home-office staff and a large number of advisers working from home or in remote offices. What if criminals breach a broker-dealer's cyber wall?
Independent broker-dealers saw gains in recruiting coveted wirehouse advisers despite the massive disruptions caused by COVID-19. Firms are also building out registered investment advisory platforms to lure advisers.
West Texas WealthCare will use JFC Financial as its office of supervisory jurisdiction.
The second half of fiscal 2020 was tough, the firm reported in its annual proxy statement; CEO Paul Reilly's total compensation fell almost 17% from the prior year and other top executives also saw their pay decline.
John and Evan McCoy run Integrity Financial Services in Lancaster, Pennsylvania, and were previously affiliated with Securities America
Dale Kramer opens an indie shop, Kramer Wealth Strategies, in upstate New York
Foursome creates Campbell Johnson McGiboney Wealth Advisors in Franklin, Tennessee
The sanction addressed failures to maintain proper oversight of advisers, which included a Ponzi scheme, according to the regulator
The conflicts of interest ranged from 12b-1 fees to cash sweep accounts to alternative investments
COVID-19 slowed down but did not halt the flow of advisers fleeing wirehouse firms for the independent channel
Don't risk letting your career go up in smoke
Patrick Fontana and Michael Dunham move to Raymond James affiliate in Dallas
The fintech led a movement to virtually eliminate commissions, cut racial investing disparities in half and dramatically increase stock ownership among investors
The shortcomings were related to supervision of some dually registered reps, according to the regulator
The mother-and-son team of Paulette and Beaux Treguboff affiliate in Glendale, Arizona
The deals reportedly range from 30% to 50% of an adviser's prior year's revenues
Pierson Wealth Management is based in Santa Clarita, California
Joe Mastroianni in Venice, Florida, is affiliating with LPL through OSJ Gladstone
The rating agency kept its junk rating of B- for Advisor Group bonds
The 10-year-old Rosemont Financial Group based in Albany, New York has 11 financial advisers
