Results for "regional brokerages"
Displaying 182 results
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 &...
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...
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...
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...
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 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 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,...
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 $288 million in client assets. John Solomon, Phil Greer, Bill Dukelow and Hamilton Neal joined Raymond James this month and will...
Jones moves to capitalize on fee business
August 18, 2013
Edward Jones' decision to start selling proprietary investment products is a sharp departure from its past practice but makes perfect sense when you look at where the company's revenue increasingly is being generated. After launching a fee-based...
The Reformed Broker: The day I realized 'the end was near'
April 9, 2012
The following is an excerpt from Backstage Wall Street: An Insider's Guide to Knowing Who to Trust, Who to Run From, and How to Maximize Your Investments, written by Josh Brown, vice president and financial adviser at Fushion Analytcis Investment...
Barred-broker-turned-politician sued by Baird
April 29, 2010
Robert W. Baird & Co. has filed a civil lawsuit against Kevin O'Brien, a former broker, for allegedly stealing hundreds of thousands of dollars from a client. The lawsuit may pave the way for citizens of a Cincinnati suburb to oust Mr. O'Brien...
Top independent broker-dealers by revenue and payout
April 23, 2017
Top 50 IBDs ranked by 2016 revenue Bubble view By group Table view Firm 2016 revenue ($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...
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...
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...
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...
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...
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...
