LPL Financial Services Inc.’s plan to acquire three broker-dealers owned by Pacific Life Insurance Co. came as little surprise to many in the industry, though the deal has raised a few key questions, industry observers and advisers say.
The Financial Services Institute Inc. hopes to bend the ear of the consulting firm chosen by the Securities and Exchange Commission to consider the effect on investors of applying differing regulatory standards to broker-dealers and investment advisers.
Industry observers are worried about the potential effect of an NASD proposal to eliminate the definition of “office of supervisory jurisdiction” and in its place create four new branch-office categories.
After 15 years of serving their common clientele separately, Schwab Institutional and Cambridge Investment Research Inc. are showing those dually registered advisers a united front in recruitment, service and reporting.
WASHINGTON — The ideas of limiting 401(k) plan options to index funds and requiring all plan administrators to be brought under fiduciary duties were in focus last week at a congressional hearing on 401(k) fees.
In a huge survey of its clientele, Schwab Institutional documented what financial advisers have been screaming about for years.
NEW YORK — Commonwealth Financial Network of Waltham, Mass., said it is giving pay raises to 400 of its advisers effective April 1, increasing the payout for advisers once they reach $25 million in assets on the firm’s proprietary managed money system.
Payment for order flow and internalization of retail options orders to affiliated dealers by brokerage firms has become more pervasive, the Securities and Exchange Commission found in a study
The CFA Institute responded with "concern and disappointment" to the mega-insider trading case that was brought to light last week.
With a House panel scheduled to hold a hearing Tuesday to discuss whether the hidden fees in 401(k) plans are fair, at least one industry watcher is calling such fees too low and another says making general judgments about them is difficult.
Industry lawyers are watching closely how New York’s highest court will settle a long - simmering battle over how much legal protection brokerage firms should have for statements made on so-called U-5 termination forms.
A former Wachovia Securities LLC branch manager in Toledo, Ohio, has been charged with stealing between $17 million and $40 million from about 45 investors by using a Ponzi-type scheme, according to the Department of Justice.
After eight months of negotiations, LPL Financial Services Inc. last Thursday finalized the details of its acquisition of three broker-dealers owned by Pacific Life Insurance Co. of Newport Beach, Calif.
CHICAGO — Socially conscious and faith-based investing is gaining traction in the retirement plan arena.
IRVINE, Calif. — In response to complaints from brokers, Smith Barney has tweaked the final version of its new pay plan.
WASHINGTON — The life insurance industry is concerned that a bill which would eliminate federal antitrust immunity for insurance could lead to unfavorable attention from the Federal Trade Commission.
After eight months of negotiations, LPL Financial Services Inc. this morning finalized the details of its acquisition of the majority of the broker-dealers owned by Pacific Life Co. of Newport Beach, Calif.
