Results for "regional brokerages"

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Mom-and-pop investors tilt bearish despite all-time high stock prices

July 26, 2019

U.S. equities at a record? Volatility near historic lows? Retail investors are in no rush to celebrate. At least that's the sentiment of mom-and-pop investors who took part in the latest survey from the American Association of Individual Investors....

Raymond James, Ameriprise add advisers in Q2, as two wirehouses shed them

July 25, 2019

As the large wirehouses continue to watch a steady drip of advisers move to other employers or switch to other ways of doing business, large brokerage operations, including Raymond James Financial Inc. and Ameriprise Financial Inc., appear to...

Regional firms provide an alternative to wirehouses

March 27, 2019

"Independence is not for everyone." So said my friend, a senior brokerage firm executive, after reading my last column on corporate culture. And, of course, he is right. While going independent with a registered investment adviser or an independent...

INsider: Edward Jones contract — new or not — perplexes brokers

December 11, 2012

A small but intense burst of confusion was created last Friday by a report that Edward Jones had placed new and unprecedented levels of restriction on brokers who want to leave the firm. It turns out that those restrictions, while harsh, are...

Baird snags another Morgan Stanley Smith Barney team

March 29, 2010

Robert W. Baird & Co. Inc. has made another addition to its wealth management business, this time snatching a $150 million adviser team from Morgan Stanley Smith Barney LLC. Russ Guard, a 15-year veteran of Smith Barney, and Jacob Duffy, who...

Finra reminds brokerages of a client's right to a straight answer

April 20, 2019

A regulatory notice issued earlier this month by the Financial Industry Regulatory Authority Inc. told member firms that they must "communicate clearly, and without obfuscation," when the brokerage firms or its managers are asked questions by...

The Reformed Broker: The day I realized 'the end was near'

April 9, 2012

The following is an excerpt from Backstage Wall Street: An Insider's Guide to Knowing Who to Trust, Who to Run From, and How to Maximize Your Investments, written by Josh Brown, vice president and financial adviser at Fushion Analytcis Investment...

Barred-broker-turned-politician sued by Baird

April 29, 2010

Robert W. Baird & Co. has filed a civil lawsuit against Kevin O'Brien, a former broker, for allegedly stealing hundreds of thousands of dollars from a client. The lawsuit may pave the way for citizens of a Cincinnati suburb to oust Mr. O'Brien...

Finra makes it harder for brokers to expunge tainted records

December 24, 2018

The Financial Industry Regulatory Authority Inc. has taken another step toward making it more difficult for brokers to have customer complaints expunged from their public records. The Finra Board of Governors announced Dec. 21 the approval of...

Raymond James grabs four-man team from Wells Fargo

December 14, 2016

Raymond James & Associates Inc. this month grabbed a team of four former reps for Wells Fargo Advisors who managed $288 million in client assets. John Solomon, Phil Greer, Bill Dukelow and Hamilton Neal joined Raymond James this month and will...

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....

Baird and Hilliard Lyons, two established regional firms, to merge

November 27, 2018

In a merger of two established regional brokerage firms, Baird late Tuesday said it agreed to acquire Hilliard Lyons. Combined, the two will have 1,270 financial advisers. The terms of the deal, which is subject to the approval of regulators,...

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,...

Jones moves to capitalize on fee business

August 18, 2013

Edward Jones' decision to start selling proprietary investment products is a sharp departure from its past practice but makes perfect sense when you look at where the company's revenue increasingly is being generated. After launching a fee-based...

Raymond James loses $762,000 penny stock arbitration claim

March 1, 2017

Raymond James & Associates Inc. was tagged last week to pay $762,000 in an arbitration case stemming from penny stocks a legacy Morgan Keegan financial adviser bought for clients from 2007 to 2010. Raymond James & Associates is the employee...

Wells Fargo financial adviser with $350 million in assets skips to Raymond James

November 30, 2016

A longtime Wells Fargo adviser in the Denver area with close to $350 million in client assets, Jarrod E. Biebel, has jumped to Raymond James & Associates Inc. According to Mr. Biebel's BrokerCheck report, he was registered with two separate...

Former LPL executive Derek Bruton resurfaces at Oppenheimer

November 14, 2016

Derek Bruton, a senior executive formerly with LPL Financial who abruptly resigned under a cloud in 2014, is now registered with Oppenheimer & Co. Inc., a New York brokerage that recently cut ties with some brokers who posed compliance risks....

Raymond James involved in $350 million development fraud: SEC-appointed receiver

May 27, 2016

Legal problems for Raymond James Financial Inc. are mounting in the fallout over the financing of a failed ski resort and real estate project in Vermont. Last month, the Securities and Exchange Commission filed a complaint claiming fraud against...

Baird lands $228 million team from Oppenheimer

December 5, 2018

Baird has landed a five-person team from Oppenheimer, to join its new wealth management office in St. Louis, Mo. The team includes two veteran financial advisers who oversee $228 million in assets and generate more than $1 million in annual...

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 &...

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