Results for "regional brokerages"
Displaying 192 results
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...
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...
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 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...
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...
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,...
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...
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...
Financial industry steps up in Harvey's wake
August 31, 2017
As downgraded-to-a-tropical-depression Harvey moves across the country, the damage in its wake has left at least 32 people dead and displaced more than 32,000 Gulf Coast residents. Also in the storm's wake: a financial services industry that...
Hundreds of advisers with tens of billions in assets left Wall Street in 2018
February 6, 2019
Last year was another banner year for brokers and advisers leaving the Wall Street wirehouses and moving to financial advice platforms, where they typically receive higher pay and deal with fewer conflicts of interest when it comes to selling...
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....
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 $499,000 fine for failing to supervise a broker in connection with sales of structured products to his clients in the state. "From in or...
Finra bars former broker over unauthorized use of discretion
October 11, 2017
The Financial Industry Regulatory Authority has barred former broker Kenneth Neuner after he failed to appear at a hearing looking into his unauthorized use of discretion. Mr. Neuner had been employed by Summit Brokerage Services until March,...
Top independent broker-dealers by revenue and payout
April 23, 2017
Top 50 IBDs ranked by 2016 revenue Bubble view By group Table view Firm 2016 revenue ($M) % change vs. 2015 2016 commission revenue ($M) % change vs. 2015 2016 fee revenue ($M) % change vs. 2015 2016 other revenue ($M) % change vs. 2015 1 LPL...
Tom James to step down as chairman of Raymond James early next year
December 1, 2016
Tom James will step down as chairman of the board of Raymond James Financial, the firm his father founded in 1962, the company announced Thursday. The 74-year-old Mr. James, who will officially relinquish the chairman's seat at the company's...
Stifel to acquire Indiana underwriter, wealth manager
September 13, 2016
Stifel Financial Corp. has scored another wealth management and investment banking acquisition, announcing Tuesday it had agreed to buy City Financial Corp. Indianapolis, Ind.-based City Financial is the parent of City Securities Corp., an independent...
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...
