Morgan Stanley Smith Barney LLC has lost a $3 million producing team of veteran Smith Barney brokers to rival J.P. Morgan Securities LLC.
The suit is one of several arising between Edwards and its successor firms and Stifel as a number of Edwards brokers deserted ship in the wake of the 2007 takeover of Edwards by Wachovia Securities LLC.
Mark Palmer, a Charles Schwab & Co. Inc. executive, today was named national sales manager at Cetera Financial Group, the broker-dealer network owned by private-equity firm Lightyear Capital LLC.
Steve Jones and Seth Gunderson have formed Tenacity Investment Group in Longmont, Colo.
The cost of liability insurance is expected to increase up to 20% at some broker-dealers in response to rising arbitration claims by investors after the market crash.
Schwab survey also uncovers drop in margins, slowdown in number of new clients
Inability to meet Finra's net- capital requirements will force more small and independent broker- dealers to shut down this year.
Highly rated financial advisers talk about what got them to the top of the heap
One in four considering yanking funds from current adviser; more frequent contact craved
For advisers, having too few clients can be a dire situation. On the other hand, having too many clients comes with its own traps, snares and pitfalls.
JPMorgan Chase & Co. had a big third quarter, with profits spiking by 23% -- but it also appears to have had a successful quarter, and year, recruiting financial advisers.
The soft market for advisory businesses is revealing an old verity: A founder's best successor is often a junior adviser who has been elevated to partner.
Whether they admit to it or not, lots of fellow independent broker-dealers and probably thousands of registered reps are going to monitor how a new social media pilot progresses at Cambridge Investment Research Inc.
In his latest letter to Berkshire Hathaway shareholders, Warren Buffett says directors and officers -- and not shareholders -- should take the hit for reckless investments.
The confirmation a year ago of the first Hispanic Supreme Court justice, following the election of the first black president, has signaled for many people a growing appreciation of racial diversity and inclusiveness in the United States.
Financial planners seeking formal certification will soon be tested not just on what they know — but on ethical questions and their ability to potentially communicate with clients.
While the graying of the advisory industry creates the risk of having too few reps to meet the demand of aging boomers, it's a big opportunity for younger advisers eager to build their businesses.
The process and discipline of financial planning can provide the bedrock for the future financial stability of individuals and families in America.
