Results for "broker-dealers"

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Advisor Group buying Ladenburg Thalmann, creating giant IBD

November 11, 2019

Advisor Group is acquiring Ladenburg Thalmann Financial Services Inc., creating one of the largest independent broker-dealers in the country, the companies announced Monday. With more than 4,000 advisers across five broker-dealers, Ladenburg...

2019 top independent broker-dealers ranked by revenue

April 24, 2019

Firm 2018 revenue ($M) % change vs. 2017 2018 commission revenue ($M) % change vs. 2017 2018 fee revenue ($M) % change vs. 2017 2018 other revenue ($M) % change vs. 2017 1 LPL Financial LLC 5188.4 21.2 1919.7 14.9 1793.5 27.3 1475.2 22.8 2 Ameriprise...

10 IBDs with the highest payouts

May 6, 2019

Here are the 10 independent broker-dealers that reported the highest average payouts per producing rep in 2018 from among the 25 IBDs with the most producing reps. The data were collected from firms that participated in InvestmentNews’ independent...

Small Broker-Dealers Enjoy Big Benefits as Branch Offices

May 1, 2019

Small Broker-Dealers Enjoy Big Benefits as Branch Offices Growing regulatory risks, shrinking margins and increasing litigation have the owners of many small and mid-sized broker-dealers in search of an exit plan. One increasingly popular option...

Lessons I've learned on how to thrive

November 17, 2018

This year's Women to Watch winners are an exceptionally talented group of industry leaders whose acumen, leadership, mentorship and service stand out within their organizations and the financial services industry. As I learned of the accomplishments...

Olympics advice from champion advisers

February 6, 2018

As the world turns its eyes to the XXIII Winter Olympic Games, it's worth noting that the U.S. financial adviser community boasts a fair share of former Olympians. See who they are — and their advice to those vying for the gold in PyeongChang,...

Fidelity sues former broker's RIA firm for misuse of trade secrets

May 3, 2018

Fidelity Brokerage Services has filed suit against Provident Financial Planning, a registered investment advisory firm owned by Paul Michel, a former broker in the firm's Southlake, Texas, office. Fidelity charges that Provident is using proprietary...

2018 and beyond: Business planning, and questioning

November 3, 2017

As an adviser, you know 2017 has been dosed with Department of Labor hoopla, while it's been simultaneously tamed by a bull market. Just imagine what next year might bring. Have you devised a plan for it yet? Advisers frequently say they need...

Not yet a broker, yet barred by Finra

March 27, 2018

The Financial Industry Regulatory Authority, Inc. has barred Holly Arbuckle, who was in the process of becoming a broker at Merrill Lynch, for not appearing at a hearing investigating the circumstances of her dismissal from the firm. On Sept....

Former Newport, Revere rep barred for failure to testify

August 11, 2017

Finra has barred former registered representative George Dahl for failure to provide testimony to its staff at a hearing that was looking into his conduct. In March 2016, the Financial Industry Regulatory Authority Inc. issued a letter of acceptance,...

Rep barred for paying credit card bills with client money ​

May 23, 2017

A former Wells Fargo broker has consented to a Finra sanction banning him from the securities industry for having transferred money from client accounts to pay his credit card bills. Scott Sherwin Polish of Mentor, Ohio, agreed to a letter of...

Broker-dealers try to hold the line on advisory and wrap account fees

May 16, 2017

For over a year, CEOs of top broker-dealers have been peppered with questions by analysts who cover their companies about fees. Can firms sustain their current level of fees they charge clients in the new era of the fiduciary adviser? Will they...

J.P. Morgan faces second suit alleging self-dealing in 401(k) plan

March 7, 2017

A second participant in the JPMorgan Chase 401(k) Savings Plan has sued plan executives and corporate executives, alleging that the plan favored parent-company investments over less-expensive options "Rather than engage in systematic, arm's...

Finra's stats reveal an industry in decline

October 20, 2017

Recent statistics released by the Financial Industry Regulatory Authority Inc. indicate that the brokerage industry is in decline, at least when measured by the total number of individuals and firms that the industry-funded broker-dealer regulator...

LPL recruits $300 million Founders Federal Credit Union group from Cetera

November 28, 2018

LPL Financial has recruited a team managing $300 million from Cetera Advisor Networks, one of six independent broker-dealers under Cetera Financial Group. Founders Investment Services, an advisory unit of Founders Federal Credit Union in Lancaster,...

Merrill loses $350 million team to Raymond James

March 22, 2017

A five-person team that managed $350 million in client assets at Merrill Lynch has joined the employee unit of Raymond James. Led by Brian Pick and Terri Fought, who operate as Pick Fought Wealth Advisors in Williamsport, Pa., the team includes...

Fastest growing IBDs by revenue from 2011-2015

September 14, 2016

Here are the top 10 independent broker-dealers by revenue growth from 2011 to 2015. Readers should note the data were collected for InvestmentNews' IBD surveys and includes data from those firms that provided the information. (More: Click here...

Tim Murphy, former head of a closed Cetera Financial Group broker-dealer, now with LPL affiliate

January 5, 2017

Tim Murphy, the one-time CEO of a closed Cetera Financial Group broker-dealer, is now registered with an LPL Financial affiliate, Integrated Financial Partners. Formerly the head of the now shuttered Investors Capital Corp., Mr. Murphy registered...

Former Advisor Group CEO Erica McGinnis leaves the firm

December 14, 2016

Erica McGinnis, who stepped down in August as CEO of the Advisor Group, is leaving the firm. In a note sent to Advisor Group's registered reps on Wednesday, Advisor Group executive chairwoman Valerie Brown thanked Ms. McGinnis for her work....

Ron Carson's jump from LPL a big win for Cetera

November 18, 2016

When Robert Moore joined Cetera Financial Group in May as chairman, and later became CEO, many in the industry wondered if he would recruit head-to-head with his old employer, LPL Financial. They now have their answer. Mr. Moore and Cetera have...

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