Results for "independent broker-dealers"

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Broker-dealers are seeing a cut in annual SIPC assessments; will advisers see the same?

May 16, 2017

Broker-dealers, which loudly complain about increasing costs due to regulation such as the Department of Labor's fiduciary rule, are actually seeing one regulatory expense decrease this year: the annual assessment firms pay to the Securities...

Advisor Group units fined for capital violations

May 4, 2017

Four units of the Advisor Group have been censured and fined by Finra for miscalculating their advisory fee income, resulting in net capital deficiencies and financial reporting inaccuracies. According to a letter of acceptance, waiver and consent,...

Independent broker-dealers with the least revenue growth

May 3, 2017

Here are the 10 independent broker-dealers with the least revenue growth from 2011 to 2016. This data was collected from firms that participated in InvestmentNews' independent broker-dealer surveys. Click through to find out which firms saw...

Fastest-growing independent broker-dealers by revenue

May 2, 2017

Here are the top 10 independent broker-dealers by revenue growth from 2011 to 2016. This data was collected from firms that participated in InvestmentNews' independent broker-dealer surveys. Click through to find out which firms saw the most...

Raymond James CEO Paul Reilly talks taxes and the firm's earnings

April 27, 2017

President Donald J. Trump's proposal this week to cut the tax rate to 15% for pass-through businesses, under which many independent financial advisers operate, "came out of the blue and was a surprise" and, if enacted, would be a boon to those...

No slow down in recruiting at Raymond James as advisers prepare for DOL fiduciary rule

April 26, 2017

Coming off its best recruiting year ever, Raymond James Financial Services Inc. is playing host to a possible record number of potential recruits this week at its annual meeting, Elevate, in Orlando, Fla. The firm is hosting 86 advisers who...

Ameriprise buying bank broker-dealer, adding 200 registered representatives

April 24, 2017

Taking a page from competitors like LPL Financial and Cetera Financial Group, Ameriprise Financial Inc. said on Monday it had agreed to buy Investment Professionals Inc., an independent broker-dealer based in San Antonio, Texas, that focuses...

Top independent broker-dealers by revenue and payout

April 23, 2017

Top 50 IBDs ranked by 2016 revenue Bubble view By group Table view Firm 2016 revenue ($M) % change vs. 2015 2016 commission revenue ($M) % change vs. 2015 2016 fee revenue ($M) % change vs. 2015 2016 other revenue ($M) % change vs. 2015 1 LPL...

Independent broker-dealer revenue on the decline

April 22, 2017

InvestmentNews' research team examined how 57 independent broker-dealers, who have participated in our in-depth survey every year since 2011, have fared through a shifting financial advisory landscape. In 2016, independent broker-dealers saw...

Independent broker-dealers hit a wall

April 22, 2017

As commission revenue continued its decline in 2016 and headwinds from regulators stiffened, the independent broker-dealer industry hit a wall, with the top 25 firms — those with roughly $250 million and more in total revenue — collectively...

Berthel Fisher, once again, in hot water with Finra for failing to supervise sales

April 20, 2017

Three years ago, the Financial Industry Regulatory Authority Inc. fined a mid-sized independent broker-dealer, Berthel Fisher & Co. Financial Services Inc. and an affiliate firm, a whopping $775,000 for a variety of failures to supervise sales...

What independent financial advisers need from broker-dealers when it comes to the DOL fiduciary rule

April 14, 2017

Predicting what may happen to the Department of Labor's fiduciary rule has become the industry's favorite parlor game. Every week we see industry pundits, third-party recruiters and other consultants publicly opining about the rule. And with...

How independent broker-dealers can help advisers win new clients

April 3, 2017

Through the years, one of the differentiating elements of the independent retail financial advice space has been that independent financial advisers are almost entirely responsible, at the end of the day, for engaging and winning new client...

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...

Five advisers create $250 million hybrid in Ohio

March 22, 2017

Five advisers who collectively manage $250 million in assets have joined forces to create an independent firm, The Strategic Wealth Management Group, based in Mansfield, Ohio. Three of the principals — Jeremy Swank, Rob Hassman and Greg Kibler...

National Holdings Corp. acquires independent broker-dealer WFG Investments

March 14, 2017

In the midst of a punishing business environment for small and mid-sized broker-dealers, National Holdings Corp. said on Monday it was acquiring select assets of Williams Financial Group of Dallas, including its independent broker-dealer, WFG...

Jim Putnam returns to LPL as chairman of the board

March 8, 2017

James "Jim" Putnam, a key architect in the 1980s and 1990s to building LPL Financial and overseeing its tremendous growth, has returned to the company as full-time chairman of LPL Financial Holdings Inc. Considered by many to be LPL founder...

3 questions independent broker-dealers should ask private equity product sponsors

February 13, 2017

Just two years ago, non-traded real estate investment trusts and business development companies were in favor among retail investors seeking increased opportunities for yield. Since then, a combination of increased regulatory complexity, negative...

RIAs at odds over fees for clients' cash balances

February 10, 2017

With the stock market charging ahead to new highs, financial advisers are faced with the question of whether to move some of their clients' profits off the table by going into more cash or cash equivalents. But doing so raises an even bigger...

DOL fiduciary rule class-actions costs could top $150M a year

February 9, 2017

Assuming the Department of Labor's fiduciary rule survives the river of legal and legislative challenges, the brokerage industry should expect to absorb between $70 million and $150 million annually in class-action litigation costs. The price-tag...

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