Results for "regional brokerages"

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Sterne Agee's ousted CEO Holbrook said to face investigation

June 23, 2014

Sterne Agee Group Inc.'s former chief executive faces a probe into whether he misused company assets such as airplanes, boats, hunting clubs and condominiums, a person with knowledge of the matter said. The Treasury and Justice departments are...

Are nontraded REIT commissions headed for a fall?

June 19, 2014

Registered representatives who sell nontraded real estate investment trusts should brace themselves for upfront commissions that will likely be lower than in the past. Reps and their broker-dealers saw a bonanza last year from nontraded REIT...

Clintons jump through financial planning loopholes to dodge estate taxes they support

June 17, 2014

Bill and Hillary Clinton write the book on how to shrink the size of an estate for tax-saving purposes. These are the same Clintons who support estate taxes for everyone else. Awkward. Financial planning strategies benefitting the top 1% Commission-hungry...

Is AIG Advisor Group the next big fish Schorsch wants to land?

May 23, 2014

To build a network of 20,000 advisers, RCS Capital Corp. and Larry Roth, the newly anointed chief executive of its retail brokerage umbrella unit, Cetera Financial Group, are undoubtedly considering another big and bold move. Cetera will have...

Ranking how indie B-Ds have fared since the financial crisis

May 21, 2014

Indie B-D stock prices vs. S&P indexes Five years ago, the sky was falling on the independent broker-dealer industry. After the credit crisis and the stock market crash that followed the Lehman Brothers Holdings Inc. bankruptcy in September...

Erinn Ford named president of Cetera Advisors

May 21, 2014

Cetera Financial Group continues to shake up its management lineup, promoting Erinn Ford to president of one of its broker-dealers, Cetera Advisors. Most recently, Ms. Ford was senior vice president of adviser relations for Cetera Advisors,...

Finra holds off sending nontraded REIT share price rule to SEC

May 20, 2014

Finra is delaying sending proposed new rules to the Securities and Exchange Commission that would give investors a clearer picture of what it costs to buy shares of a nontraded real estate investment trust. The Financial Industry Regulatory...

Broker-dealers with the highest percentage of revenue from alts - IBDs reaping rewards from alts sales

May 1, 2014

Independent broker-dealers saw an increasing percent of their revenues derived from the sale of alternative investments, namely nontraded real estate investment trusts, in 2013. Indeed, the $20 billion per year IBD industry saw alternative revenues...

Adviser tech: Big data, gameification are next

April 27, 2014

Everett James (E.J.) Sutherland, Commonwealth Financial Network's chief information officer, is no stranger to the world of technology, but he's a relative newcomer to the broker-dealer universe. After beginning his information technology career...

Independent broker-dealers poised to keep roaring in 2014

April 27, 2014

These are heady times for the independent-broker-dealer industry, which came roaring back to life in 2013 and is poised for another strong year, despite the broad market's recent volatility. Overall, 2013 saw a return to double-digit revenue...

Is Nicholas Schorsch's RCS Capital the new LPL?

April 27, 2014

Nicholas Schorsch relishes mentioning his hard-charging and fast-changing broker-dealer, RCS Capital Corp., in the same breath with industry powerhouse LPL Financial. At an investor presentation in January for RCS Capital, commonly referred...

Let's keep perspective on high-frequency trading

April 27, 2014

Michael Lewis' book “Flash Boys: A Wall Street Revolt” (W.W. Norton & Co., 2014) has provoked a wave of media coverage regarding high-frequency trading. This public dialogue has the potential to shed light on important issues facing our...

Fee disclosures vary widely; report raises questions over charges and markups

April 24, 2014

Brokers are burying fee disclosures in complicated customer documents and sometimes levying unreasonable charges, according to a report released Thursday by state securities regulators. In a survey of 34 broker-dealers from across the country,...

Brokerages toss around ideas about salary for Next Gen advisers

April 24, 2014

As the brokerage industry considers replenishing its ranks, some firms are testing new pay models that emphasize salary more than commissions. “We're trying some things in pilots going on with a lot of success in certain models that look different...

Raymond James reports strong quarter in private-client group

April 23, 2014

Raymond James Financial Inc. reported record revenue and pretax income in its private-client group for its fiscal second quarter that ended in March. Net revenue for the quarter reached $812.2 million, up 12% from the prior year's second quarter,...

Sterne Agee Group in deal to acquire midsize independent broker-dealer WRP Investments

April 10, 2014

Broker-dealer mergers and acquisitions continue to sizzle as Sterne Agee Group Inc. Thursday is expected to announce the purchase of a midsize independent broker-dealer, WRP Investments Inc. David Pintaric, president and second-generation owner...

Account opening is No. 1 tech concern: Survey

April 2, 2014

The challenge of capturing account-opening data has replaced social-media archiving as advisers' primary technology concern, according to a survey conducted by advisory think tank Beacon Strategies. In fact, 96% of the 55 broker-dealers surveyed...

Newborn Lebenthal RIA triples its assets but expects more to come

March 27, 2014

Lebenthal Holdings stands to triple the size of its new wealth management unit with the acquisition of the business of two Morgan Stanley brokers who manage $1.2 billion in assets. But that's just the beginning, if the CEO has his way. If a...

Where your young boomers prospects are going for advice

March 13, 2014

With nearly half of young baby boomers now using self-directed investment platforms, the traditional advisory model used by wirehouses is facing a dual threat from discount brokerages and electronic registered investment advisers — the so-called...

Woodbury Financial Services promotes Rick Fergesen to president and CEO

March 4, 2014

Rick Fergesen, a veteran of Woodbury Financial Services Inc., has been named president and chief executive of the broker-dealer. The firm had been looking for a new chief executive since December, when Pat McEvoy resigned. Woodbury is one of...

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