Competitive pressures lead advisers to broaden their non-financial service offerings
Millennials need help figuring out where their money goes, not just how to save it for retirement.
Michael J. Breton allegedly cost clients $1.3 million by placing trades through a master brokerage account and then allocating profitable trades to himself while placing unprofitable ones into client accounts.
From 2000 until 2015, Citigroup overcharged about 60,000 advisory client accounts and was unable to locate another 83,000 client contracts that were opened between 1990 and 2012.
Given the current regulatory environment and increasing utilization of BrokerCheck by the public, a broker must take ownership of his or her CRD.
The self-regulatory organization is planning to investigate 100 to 200 brokers who pose the greatest risk to investors.
The firm is an employee-owned, independent partnership associated with Raymond James, and has found success with its collegial 'no-jerk policy' for those who'd like to join.
LPL among the firms to benefit from the expanded distribution of financial advice
Picks up two Merrill Lynch groups with nearly $2 billion in assets; more deals might be on the horizon.
Advisers discourage partisan rants at the office while some find other places to take up political discussions.
Differentiating themselves from brokers would be easier now that debate has raised investor awareness of the role of a fiduciary
CEO says he got the idea by talking to firms during a "listening tour" shortly after taking over the reins of the securities industry regulator.
Connecticut adviser John W. Rafal obtained a new client with accounts in excess of $100 million, and agreed to pay the referring attorney $50,000 annually from the advisory fees paid, according to the SEC.
The regulator makes it a top priority for 2017, establishing an exam unit to ferret out rogue brokers and scrutinizing how firms supervise them.
Unlimited investment changes among the enhancements lawmakers seeking in new measure
The rules, which include having written policies and procedures and a designated chief information security officer, could become a model for other states.
Clients want us to spend less time talking about money and more time discussing their lives.
Says wirehouse overbilled investment advisory clients due to coding and other billing system errors.
That rule is intended to safeguard clients' cash and securities so they can be promptly returned should the broker-dealer fail.
