Anderson Strudwick picks up Jesup & Lamont reps

Anderson Strudwick Inc., a small, Richmond, Va.-based regional firm, continues to pick up offices and reps of troubled broker-dealers.
NOV 01, 2010
Anderson Strudwick Inc., a small, Richmond, Va.-based regional firm, continues to pick up offices and reps of troubled broker-dealers. This morning, the 140-person employee-owned firm said it has added nine new offices, and 37 reps and advisers, largely from the defunct Jesup & Lamont Inc., which was shut down last month after its capital levels fell below regulatory minimums required for continuing operations. This is the second time in recent months that Anderson Strudwick has picked up offices from a failed broker-dealer. In May, it snagged a team of 10 reps in Tampa, Fla., who had been affiliated with GunnAllen Financial Inc., which shut down this year, also due to net-capital violations. Anderson Strudwick’s acquired offices are in Boston and Worcester, Mass.; Indialantic, Naples, Orlando and Sarasota, Fla.; Chicago, Oklahoma City and San Francisco.

Latest News

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

Court revives lawsuit over 15% fund return promise
Court revives lawsuit over 15% fund return promise

'Nostradamus' real estate entrepreneur accused of misleading investors on social media despite SEC's objections.

Los Angeles Federal Credit Union splits from LPL’s CFS to Cetera
Los Angeles Federal Credit Union splits from LPL’s CFS to Cetera

LPL loses another institutional client as Cetera adds a $160 million win to its credit union partnership streak.

UBS keeps focus on costs in US wealth management business
UBS keeps focus on costs in US wealth management business

Meanwhile, the bank is also investing in technology for its financial advisors in the United States.

Vanguard seeking SEC green light to expand trademark tax-busting fund design
Vanguard seeking SEC green light to expand trademark tax-busting fund design

The Jack Bogle-founded firm is looking to apply its famed dual-share class structure to actively managed strategies.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave