Results for "regional brokerages"
Displaying 188 results
More reps bolt from Waddell & Reed, including some it would have liked to have kept
October 31, 2018
Waddell & Reed Financial Inc. lost another 56 brokers in the third quarter, as senior management continued to stress its strategy of shedding low-producing talent and building the firm around its most productive advisers. For the 12 months ended...
Stifel, First Republic post top recruiting gains in Q3, as wirehouses continue to lose brokers
October 23, 2018
Two distinctly different firms posted the strongest gains of advisers during the third quarter, with registered reps and financial advisers continuing to leave large Wall Street firms. Stifel Nicolaus & Co. Inc., a retail wealth management shop,...
Top Waddell & Reed team bolts to form RIA
August 22, 2018
Waddell & Reed continues to lose reps and advisers. Most recently, a veteran, award-winning team in Northern California that produced $1.6 million in annual revenues bolted to start their own RIA. Elaine and Scott Manley both left Waddell &...
Back office should be top of mind for growing advisory firms
July 24, 2018
Recently, a colleague of mine suggested that "back office" should be considered a bad word, because it's where things go wrong without accountability. I respectfully disagree. The back office plays a major role in delivering a client service...
D.A. Davidson expands with hires from Merrill Lynch
June 25, 2018
D.A. Davidson & Co., a broker-dealer headquartered in Great Falls, Mont., has recruited eight financial advisers in the past two months, including four from Merrill Lynch. "Our recruiting from wirehouses has picked up," said Michael Purpura,...
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...
SEC advice rule: Here's what you need to know
April 19, 2018
The Securities and Exchange Commission has officially proposed its investment-advice rule, the first step in a long regulatory process that could fundamentally change the way broker-dealers and their representatives do business. The proposal,...
Fifth generation rides Edwards brands toward RIA market
March 23, 2018
Ten years after launching his own brokerage business and riding the breakaway broker wave to more than $23 billion under management, Benjamin F. "Tad" Edwards IV sees a fresh opportunity in the registered investment adviser channel. Mr. Edwards...
Eight brokerage firms urge CFP Board to delay new fiduciary standards
February 5, 2018
Eight major brokerage firms are calling on the Certified Financial Planner Board of Standards Inc. to halt its effort to raise the investment-advice requirement attached to the designation until the Securities and Exchange Commission proposes...
UBS team managing $440 million moves to Raymond James
December 14, 2017
A team with three advisers and two associates managing $440 million at UBS has joined the employee channel of Raymond James Financial in Winter Park, Fla. Michael Zizmer, one of the lead advisers on the team, began his financial services career...
Financial Focus takes $446 million in assets from NPC to Securities America
November 16, 2017
Financial Focus, a hybrid RIA managing $446 million in assets in Carlsbad, Calif., has switched affiliations from National Planning Corp. to Securities America. The all-female advisory firm, founded in 1984, specializes in serving women investors....
Finra bars former broker over unauthorized use of discretion
October 11, 2017
The Financial Industry Regulatory Authority has barred former broker Kenneth Neuner after he failed to appear at a hearing looking into his unauthorized use of discretion. Mr. Neuner had been employed by Summit Brokerage Services until March,...
Dan Arnold's big gamble at LPL Financial
October 7, 2017
DAN ARNOLD, THE NEW CEO of LPL Financial Holdings Inc., is making bold moves to increase profitability at the nation's largest independent broker-dealer, and while he's pleasing Wall Street, some LPL affiliates and advisers are questioning how...
Finra panel awards Edward Jones $340,000 in estate dispute
September 1, 2017
A Finra arbitration panel in Memphis, Tenn. has found that a military man acting as power of attorney for a client of Edward Jones should reimburse the firm for the damages it paid to the client, who is deceased. In its award, the Financial...
SEC charges ex-Connecticut rep with $1 million fraud
September 1, 2017
The SEC has charged Leon Vaccarelli, a former broker who had been affiliated with The Investment Center in Waterbury, Conn., with persuading several elderly customers to invest with him and then spending their money on his own living and business...
San Diego duo managing $156 million joins Ameriprise
August 24, 2017
Stephanie Karpow and Robert Lester, who managed $156 million in assets at MSI Financial Services in San Diego, Calif., have joined the employee unit of Ameriprise. Ms. Karpow started her securities career in 2009 at New England Securities and...
Court orders RIA to pay nearly $2 million for defrauding athletes
August 10, 2017
The Securities and Exchange Commission has obtained a final judgement against Pittsburgh, Pa.-based financial adviser Louis Martin Blazer III, who was accused of taking money without permission from the accounts of several professional athletes....
Cetera loses bank brokers managing $750 million
July 27, 2017
Great Western Investments & Insurance, the brokerage business of Great Western Bank in Sioux Falls, S.D., has changed affiliation from the Cetera Financial Group to Raymond James. The bank brokerage employs 17 financial advisers, who collectively...
Pennsylvania slams midsize broker-dealer with $500,000 fine
July 20, 2017
The Pennsylvania Department of Banking and Securities this week slammed Newbridge Securities Corp. with a $499,000 fine for failing to supervise a broker in connection with sales of structured products to his clients in the state. "From in or...
Brokerage firms hunt for fintech in early-stage development
May 26, 2017
While financial advisers find it challenging enough to stay on top of new financial technologies, some firms are dedicating resources to ensure they have a heads-up on the latest fintech innovations coming down the pike. Edward Jones is investing...
