Results for "independent broker-dealers"

Displaying 1,559 results

Sort: Date | Relevance

Author:

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...

Voya Financial launching robo-advice platform for brokers

July 11, 2019

Voya Financial is the latest independent broker-dealer to embrace digital advice. The company plans to launch a hybrid robo-advice product called Voya Digital Adviser that combines human advisers with automated investing for accounts as small...

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:...

Finra slaps Summit Brokerage with fines, restitution over broker churning

July 2, 2019

Summit Brokerage Services Inc. on Tuesday was hit with $880,000 in sanctions for a variety of supervisory failures, including not keeping tabs on a broker who for three years churned client accounts. In fact, compliance employees at Summit failed...

LPL Financial push for employee model attempt to tap into $11 trillion market

June 25, 2019

At a time when broker-dealers are increasingly trying to come up with business models for advisers who want to act as registered investment advisers, recent moves by LPL Financial left some wondering if the firm was taking a step back in time....

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...

Forget the SEC advice rule — broker-dealers more concerned with CFP Board expanded fiduciary standard ​

June 7, 2019

Lawyers across the brokerage industry are busily reading and digesting the Securities and Exchange Commission's investment advice reforms approved this week. But some firms are also gearing up for more changes promulgated by the organization...

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...

Private equity loves IBDs, but will that last?

May 14, 2019

A few years ago, the independent broker-dealer industry was supposed to be in its death throes. Margins were in sharp decline. Costs from technology and regulation, in particular the Department of Labor's dreaded fiduciary rule, were eroding...

LPL Financial opening its coffers for adviser acquisitions

May 6, 2019

LPL Financial is letting its affiliate advisers know that if they want to expand, it can help with the financing. Indeed, the firm has kicked off 2019 by raising the issue with advisers at conferences and has increasingly been willing to discuss...

Air Force veteran-turned-adviser clashes with First Command

April 4, 2019

First Command Financial Planning Inc. is an independent broker-dealer that recruits retired military personnel. But one of the firm's former advisers — a disabled Air Force veteran — is unhappy with how he was treated and last month filed...

Voya Financial Advisors exposes more sensitive adviser information on its website

March 22, 2019

Weeks after a computer glitch risked exposing the Social Security numbers of its 1,800 registered reps and financial advisers, Voya Financial Advisors Inc. again revealed sensitive information about its advisers. This time, a list on the Voya...

LPL's record recruiting year came with a cost — signing bonuses skyrocketed in 2018

March 15, 2019

LPL Financial last month reported a record amount of assets recruited to its platform last year. In a recent filing with the Securities and Exchange Commission, the firm revealed that those assets came with a cost — recruiting bonuses on its...

Blucora to buy another broker-dealer with tax-focused advisers

March 19, 2019

Tax preparation software company Blucora Inc. said on Tuesday it intends to continue to add to its wealth management and tax preparation business and will pay $180 million in stock for 1st Global Inc., an independent broker-dealer that focuses...

Finra bars ex-MML broker who sold $3.5 million of Woodbridge Ponzi

February 14, 2019

The Financial Industry Regulatory Authority Inc. said Wednesday that it had barred a broker who sold close to $3.5 million of promissory notes relating to the Woodbridge Group of Companies, a purported real estate investment fund that turned...

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,...

LPL Financial sues broker it fired for taking $292,000 that belonged to his ex-wife

January 24, 2019

LPL Financial is suing a broker it fired last summer after a dispute surfaced between the broker and his ex-wife over the disposition of funds in their joint brokerage accounts. LPL on Tuesday sued the ex-broker, Christopher Lossing, in U.S....

Cetera purges board after being bought by Genstar Capital

October 11, 2018

Cetera Financial Group said on Thursday morning that it had overhauled its board of directors, with its new board reflecting the recent sale of the large brokerage network to Genstar Capital for $1.7 billion. Gone are Bob Dineen, the former...

Q4 revenue strong at IBDs, online brokers despite market declines

February 13, 2019

Independent broker-dealers and retail brokerages were able to generate good revenue during the final quarter of 2018 despite the significant drops in the market, according to Moody's Investors Service. The market turbulence in December played...

Next Page »

1 | 2 | 3 | 4 | 5 ... 78

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.