Southwest Securities Inc. will pay $500,000 to resolve Financial Industry Regulatory Authority claims that the firm violated Municipal Securities Rulemaking Board rules by using paid consultants to solicit business.
Claims David Becker and brothers inherited money from parents; $1.5M in question
Securities America scored a huge victory in a crucial Reg D case this week, as a judge combined private-placement arbitration claims with class actions. Not surprisingly, the plaintiff's attorney lambasted the decision.
Alan Harter's clients started suggesting more than two years ago that he should cut his Wall Street ties and become their independent investment adviser
The 200 to 300 financial advisers and trainees given their walking papers at Morgan Stanley Smith Barney LLC this quarter probably won't have much trouble finding new jobs, according to industry recruiters.
The SEC deserves a pat on the back for eliminating the requirement that a securities industry representative sit on Finra arbitration panels. Still, its obligation to assure that investors get a fair shake in disputes with their brokers remains unfulfilled.
The Securities and Exchange Commission yesterday approved a Financial Industry Regulatory Authority Inc. proposal to give investor claimants the option of using all-public arbitration panels.
CFO's resignation comes just months after departure of company's CEO
SWS Group Inc. said Thursday its chief executive of eight years has resigned to pursue other interests; board member steps in on interim basis
Managers at smaller broker-dealers and LLPs have been on high alert ever since Treasury boss Timothy Geithner suggested changing the tax rules for pass-through entities.
Yesterday, Securities America and parent Ameriprise struck a deal with attorneys representing investors who bought private placements that went bust. Today, lawyers involved in the negotiations say the deal could unravel if a handful of clients opt out of the agreement.
Ameriprise Financial Inc. has reached a $27 million settlement with investors who bought private placements that have gone bust from reps at its independent broker-dealer subsidiary, Securities America Inc., according to an attorney with knowledge of the matter.
Ameriprise Financial Services Inc. advisers Dave Dryden, Travis Carter and Wayne Smith were running their own independent office, in their own building, with their own staff.
Like a nagging cold, leakage from defined-contribution plans continues to bedevil plan sponsors and their providers
Internal Revenue boss tells Congress funding squeeze would curtail enforcement activity; 'informed and judicious cuts'
Wharton's Jeremy Siegel has analyzed stock and economic trends dating back to the early 1800s. The good professor's conclusion? Get your clients off the sideline and back in the game.
This bull market has legs
Going independent has never been easier, but there are still a host of issues to consider. This first installment of a four-part special report explores the ins-and-outs of starting your own practice.
Seek out advice from others who have gone out on their own
