Independent Broker Dealers

Displaying 2867 results
Another CEO change, suddenly, at Realta Equities, formerly Coastal
RIA NEWS FEB 27, 2025
Another CEO change, suddenly, at Realta Equities, formerly Coastal

It’s an unannounced leadership shift at a broker-dealer working to rebrand.

By Bruce Kelly
LPL welcomes $1.15B breakaway team from Wells Fargo
INDEPENDENT BROKER DEALERS FEB 27, 2025
LPL welcomes $1.15B breakaway team from Wells Fargo

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.

By Leo Almazora
Ameriprise wins one, loses another against LPL in latest recruiting skirmishes
INDEPENDENT BROKER DEALERS FEB 26, 2025
Ameriprise wins one, loses another against LPL in latest recruiting skirmishes

Ameriprise has targeted LPL in at least four complaints sinch January 2024, alleging its competitor had unfairly hired its financial advisors.

By Bruce Kelly
Cetera completes acquisition of Protective Life subsidiary CFGS
INDEPENDENT BROKER DEALERS FEB 26, 2025
Cetera completes acquisition of Protective Life subsidiary CFGS

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.

By Leo Almazora
Morgan Stanley’s 'key driver' is wealth management, analyst notes
FINTECH FEB 25, 2025
Morgan Stanley’s 'key driver' is wealth management, analyst notes

The wirehouse's "strong investment in technology and AI has improved financial advisor productivity," KBW's David Konrad said.

By Bruce Kelly
LPL keeps spending big to recruit, attract advisors
INDEPENDENT BROKER DEALERS FEB 24, 2025
LPL keeps spending big to recruit, attract advisors

The company last week reported a 57 percent increase in loans made to advisors in 2024.

By Bruce Kelly
LPL amps up alts capabilities with new centralized platform
ALTERNATIVES FEB 20, 2025
LPL amps up alts capabilities with new centralized platform

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.

By Leo Almazora
Finra bars ex-Morgan Stanley broker previously charged with mail fraud
INDEPENDENT BROKER DEALERS FEB 20, 2025
Finra bars ex-Morgan Stanley broker previously charged with mail fraud

According to his BrokerCheck report, Roger A. Gallagher was charged last August with two felony counts and he pleaded not guilty to both.

By Bruce Kelly
Fed on hold until inflation picture improves, minutes show
INDEPENDENT BROKER DEALERS FEB 19, 2025
Fed on hold until inflation picture improves, minutes show

Notes from the January meeting show Federal Reserve officials are staying cautious after 2024 cuts, with several hoping for further progress towards 2 percent.

By Bloomberg
Convicted of fraud, GPB executives object to plans to return money to investors
ALTERNATIVES FEB 19, 2025
Convicted of fraud, GPB executives object to plans to return money to investors

Gentile and Schneider were convicted of fraud and conspiracy after a seven week trial in federal court in Brooklyn.

By Bruce Kelly
60-year-old New York broker-dealer files bankruptcy, closes down
INDEPENDENT BROKER DEALERS FEB 18, 2025
60-year-old New York broker-dealer files bankruptcy, closes down

Stoever, Glass & Co. Inc. opened in May 1964 and focused on municipal bonds.

By Bruce Kelly
LPL leans into business owner clients with new planning tools
INDEPENDENT BROKER DEALERS FEB 18, 2025
LPL leans into business owner clients with new planning tools

The broker-dealer behemoth is deploying new tools to enable its thousands of advisors to offer more targeted services to independent enterprise owners, founders, and CEOs.

By Leo Almazora
Finra sanctions smoothie-throwing broker over alleged cash reporting failures
INDEPENDENT BROKER DEALERS FEB 13, 2025
Finra sanctions smoothie-throwing broker over alleged cash reporting failures

But the Finra panel's decision against James Iannazzo was not unanimous.

By Bruce Kelly
Former wirehouse leaders jump to RIAs
RIA NEWS FEB 12, 2025
Former wirehouse leaders jump to RIAs

John Thiel is only the latest in a line of one-time senior executives at wirehouses who have crossed Wall Street and are now working for the competition.

By Bruce Kelly
LPL welcomes $630M sibling advisor duo from Corebridge
INDEPENDENT BROKER DEALERS FEB 11, 2025
LPL welcomes $630M sibling advisor duo from Corebridge

Meanwhile, Ameriprise has bolstered its own ranks as an LPL defector joins its branch channel in California.

By Leo Almazora
LPL boosts revenue potential with amped-up alts platform
ALTERNATIVES FEB 10, 2025
LPL boosts revenue potential with amped-up alts platform

Along with greater revenue, alternative investments also carry risks, one industry lawyer noted.

By Bruce Kelly
Advisor fighting Finra banishment loses $17.7 million dispute with old firm
INDEPENDENT BROKER DEALERS FEB 07, 2025
Advisor fighting Finra banishment loses $17.7 million dispute with old firm

National Securities Corp. sued the advisor in 2020, alleging breach of contract and unjust enrichment.

By Bruce Kelly
Osaic hit with class action over cash sweep payments
INDEPENDENT BROKER DEALERS FEB 06, 2025
Osaic hit with class action over cash sweep payments

The hybrid RIA is the latest firm to face allegations that it enriched itself at customers' expense by paying unfairly low interest rates in its cash sweep programs.

By Leo Almazora
Pershing discussing move to control portion of broker-dealers’ cash.
CUSTODIAN FEB 06, 2025
Pershing discussing move to control portion of broker-dealers’ cash.

The clearing and custody giant is kicking the tires on new cash sweep plan with broker-dealer clients.

By Bruce Kelly
LPL, Raymond James boost advisor ranks anew
INDEPENDENT BROKER DEALERS FEB 06, 2025
LPL, Raymond James boost advisor ranks anew

LPL Financial welcomes a $345 million investment and planning team from Ameriprise as RayJay's employee advisor arm adds a seasoned Well Fargo breakaway.

By Leo Almazora