Results for "independent broker-dealers"

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Indexed annuity sales grow among wirehouses, independent broker-dealers

September 20, 2018

Wirehouses and independent broker-dealers have upped their sales of indexed annuities over the past few years, with a greater share of product sales coming through registered representatives at brokerage firms. There are a number of reasons...

LPL nabs $300 million firm from Cetera Financial

September 17, 2018

LPL Financial has recruited a $300 million advisory firm from Cetera Financial Group. Multop Financial, based in Bellingham, Wash., was founded in 1976 by Air Force veteran Phillip Multop. Today, the firm includes three financial advisers, three...

Merrill team managing $325 million moves to Janney

August 20, 2018

A team consisting of a father and his two sons, who managed $325 million at Merrill Lynch in Media, Pa., have joined Janney Montgomery Scott. The Kernicky Group consists of Michael Kernicky, who had been with Merrill Lynch since 1986; son Michael...

Ladenburg platform to help IBDs with succession planning, acquisitions

August 16, 2018

Ladenburg Thalmann Financial Services has a new suite of services and digital tools to help advisers across its subsidiary broker-dealers with succession, continuity and acquisition planning. The platform is part of an ongoing effort by the...

Merger and acquisition activity drops dramatically in the second quarter

July 31, 2018

Merger and acquisition activity in registered investment adviser firms dropped dramatically during the second quarter, according to a report from DeVoe & Co. RIA transactions dropped to 32 in the second quarter from a record 49 in the first...

Four Wells Fargo reps managing $550 million go indie with Raymond James

July 31, 2018

Four advisers collectively managing $550 million at Wells Fargo Advisors in suburban Atlanta have formed their own independent businesses and affiliated with Raymond James. The four, most of whom had spent decades with A.G. Edwards, a Wells...

LPL CEO Dan Arnold acknowledges mistakes in firm's technology rollout

July 30, 2018

LPL Financial's Focus 2018 kicked off in Boston Monday with CEO Dan Arnold acknowledging some "missteps" in the firm's rollout of its new technology platform for advisers, ClientWorks. According to advisers attending the event, Mr. Arnold and...

LPL brokers can now use SS&C Advent's Black Diamond

July 26, 2018

LPL Financial continues to deepen the bench of third-party technology available to its financial advisers this week. The nation's largest independent broker-dealer announced Thursday that SS&C Advent's Black Diamond Wealth Platform, a portfolio...

Ladenburg bets advisers will serve more self-employed clients in the future

July 25, 2018

Ladenburg Thalmann Financial Services is investing in Track Technologies, an early-stage tech startup that provides tax automation for independent contractors, freelancers and other self-employed people. It's the first investment to result from...

LPL integrates Riskalyze with ClientWorks

July 24, 2018

Riskalyze has been integrated with LPL Financial's ClientWorks platform to provide improved account synchronization and monitoring to the 2,500 LPL advisers who use the digital risk assessment tool. Advisers now can link clients' Riskalyze profiles...

Genstar Capital buys majority stake in Cetera Financial Group

July 17, 2018

Cetera Financial Group, a network of six independent broker-dealers with about 8,000 brokers and advisers, said Tuesday evening that private-equity firm Genstar Capital will buy a majority equity stake in the company. Cetera's holding company,...

Finra censures Cetera for lax supervision of brokers' outside activities

July 10, 2018

The Financial Industry Regulatory Authority Inc. has censured Cetera Financial Specialists and fined the firm $200,000 for supervisory failures in connection with its brokers' outside business activities. Finra said that between January 2012...

Edward Jones, Commonwealth Financial top J.D. Power list of top brokerage employers

June 28, 2018

When it comes to workplace satisfaction among broker-dealers, some firms stand out from the pack. According to the latest research from J.D. Power, Commonwealth Financial, Raymond James Financial and Cambridge Investment Research fill the top...

LPL Financial taps wirehouse veteran to lead recruiting effort

June 25, 2018

Continuing the churn in LPL Financial's recruiting group, the leader of the unit, Bill Morrissey, managing director and head of business development, is retiring and being replaced by a wirehouse veteran. Mr. Morrissey has been with LPL for...

LPL rolls out blockchain separately managed account

June 18, 2018

LPL Financial has rolled out a new blockchain strategy separately managed account that LPL's advisers can offer their clients or use to build client portfolios. Blockchain is the driving force behind bitcoin and many other cryptocurrencies,...

Vermont hybrid managing $330 million moves from Lincoln to LPL

June 14, 2018

Flood Financial services, a hybrid firm managing $330 million in assets in South Burlington, Vt., has switched its broker-dealer and registered investment adviser platforms from Lincoln Financial Services to LPL Financial Services. Richard Flood,...

ProEquities introduces cybersecurity to protect even the least tech-savvy advisers

June 14, 2018

ProEquities, an independent RIA and broker-dealer hybrid with $16 billion in client assets, is rolling out a new cybersecurity platform to improve protection for the firm's 700 financial advisers. (More: Fintech leaders address adoption and...

Finra to overhaul broker information system, cut compliance costs for broker-dealers

June 14, 2018

The Financial Industry Regulatory Authority Inc. said Thursday it is going to overhaul its registration and disclosure programs, starting with a new web-based system for the data that provides the backbone for BrokerCheck, a database of hundreds...

Advisers with billions in AUM leaving Wall Street

June 13, 2018

The biggest firms continue to lose groups of financial advisers that have billions of dollars worth of assets under management. These advisers are moving because they want to set up their own shops so they can own a business or to work at smaller...

Ex-Edward Jones broker sues former firm, alleging racial bias

May 25, 2018

A former Edward D. Jones broker sued the firm Thursday, claiming widespread, intentional racial discrimination in the firm's policies and practices. The ex-broker, Wayne Bland, is African-American and worked at Jones from 2014 to 2016. The lawsuit,...

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