Results for "independent broker-dealers"

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Midsize broker-dealer in Atlanta to shut down

December 6, 2019

After getting whacked with a $10 million trading loss over the summer, IFS Securities will shut its doors. According to its BrokerCheck report, on Monday IFS Securities changed its status with the Financial Industry Regulatory Authority Inc....

Adam Antoniades promoted to CEO of Cetera

December 3, 2019

Cetera Financial Group has appointed Adam Antoniades as its chief executive officer, and a member of board of directors. He has served as the company's president since 2014. [More: Robert Moore is back. And he's focused on REITs] Cetera's chairman,...

Commending Finra on its efforts to improve its exam program

December 2, 2019

Assisting the Financial Industry Regulatory Authority Inc. in its ongoing effort to enhance the effectiveness of its examination program has been one of our long-standing priorities. In 2017, we submitted a comment letter containing several...

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...

Advisor Group, Cetera Financial seen as potential buyers of Ladenburg Thalmann

November 1, 2019

Advisor Group and Cetera Financial Group, along with a private-equity investor, are the likely buyers of Ladenburg Thalmann Financial Services Inc., according to several industry sources, with the value of the brokerage network and its 4,400...

Ladenburg Thalmann looking for a buyer

October 30, 2019

Ladenburg Thalmann Financial Services Inc. is exploring a sale, but the company is not releasing any details to the 4,400 financial advisers in its network. Bloomberg News reported on Tuesday that Ladenburg is working with an adviser to weigh...

Finra approves plan for specialized arbitrators to decide broker expungements

October 3, 2019

The Finra board has advanced proposals to reform the process by which brokers can clear their record of customer disputes and to curb the ability of brokers to become the beneficiary or executor of a customer's will. The Financial Industry Regulatory...

Two small broker-dealers are down — and out

October 10, 2019

Two small broker-dealers with different business models, one for retail reps and the other a wholesaler of alternative and real estate funds, are closing their doors. The former B-D, Taylor Capital Management, is potentially facing dozens if...

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...

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...

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...

Cetera Financial Group adds 1,000 advisers, $19 billion in assets so far in 2019

August 14, 2019

Cetera Financial Group is having a banner year in attracting new advisers to its platform, with recruits ranging in experience and production from sophisticated wealth managers to those relatively new to the financial advice industry. Cetera,...

Ohio advisory firm managing $206 million moves to Kestra

July 10, 2019

Merkel Financial, a Columbus, Ohio-based independent firm managing $206 million, has switched affiliations. After 26 years with Principal Securities, Merkel has affiliated with Kestra Financial Inc. The firm is led by Michelle M. Merkel. (More:...

Insurgent candidate vies for large-firm seat on Finra board

July 26, 2019

An insurgent candidate for the Finra board of governors said the body needs more input from large firms that provide financial advice and investment products. Chris W. Flint, president and chief executive of ProEquities Inc., has been nominated...

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...

Cetera Financial Group eliminating Summit as a separate broker-dealer

July 12, 2019

One of Cetera Financial Group's six broker-dealers, Summit Brokerage Services Inc., is being absorbed into another of the firm's B-Ds. Summit has $17.5 billion in client assets. Its 450 advisers and its branch offices will continue to operate...

Amy Webber to replace Eric Schwartz as CEO of Cambridge Investment Research

January 3, 2017

Eric Schwartz, the founder of independent broker-dealer Cambridge Investment Research Inc., has stepped down as the firm's CEO and has been replaced by longtime executive Amy Webber, who will also remain the firm's president. Mr. Schwartz, who...

LPL's Mark Casady not turning his back on financial services industry

December 8, 2016

LPL Financial's CEO and chairman Mark Casady will be retiring next month, but that doesn't mean he is turning his back on the financial services industry. If an announcement Thursday is any indication, Mr. Casady will be focused to some degree...

Smooth transition expected at LPL Financial under new CEO Dan Arnold

December 5, 2016

A smooth transition is expected when Mark Casady hands over the reins of LPL Financial to Dan Arnold in January, with one analyst saying the CEO's departure at this time indicates the company is likely not for sale after all. According to an...

Star broker, Ron Carson, is leaving LPL to jump to Cetera

November 18, 2016

Ron Carson, one of LPL Financial's best known, longest-tenured financial advisers, is leaving the firm, according to a source with knowledge of the move. Mr. Carson, whose firm Carson Wealth Management, has $7.4 billion in client assets, will...

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