Broker-Dealers

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Goldman Sachs adds employee benefits to fight burnout

The firm is boosting its matching contributions to retirement accounts for U.S. workers and eliminating the one-year waiting period for contributions for new joiners.

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JPMorgan has $20 billion at stake as Dimon jokes about China

The CEO issued a statement Wednesday saying he regretted his quip that JPMorgan is likely to outlast China's Communist Party. The bank has ambitions to expand further in China.

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Big questions out there for Advisor Group

Advisor Group last week lost a star financial adviser, Kevin Myeroff. That's always a delicate time for a broker-dealer network.

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Citi to hire 100 for push into digital assets

As part of the effort, the bank tapped Puneet Singhvi to be its new head of digital assets inside the institutional clients group.

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UK crypto trader Nexo buys piece of Brooklyn B-D

The terms of Nexo's deal for a stake in Texture Capital Holdings were not disclosed.

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Arkadios acquires California broker-dealer, advisory firm

Petaluma-based Investment Architects and its affiliated RIA, Resource Investment Architects, manage $1.25 billion.

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Head of defunct broker-dealer charged with fraud

Thomas Brenner, former CEO of First American Securities of Orrville, Ohio, is facing seven fraud charges linked to sales of private placements.

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LPL to keep trolling bank broker market

Since 2020, LPL has signed three major agreements to provide retail brokerage and advisory services to banks and credit unions.

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Merrill Lynch duo managing $216 million joins Raymond James

Gus Fingado and Matthew Walter are joining the firm's employee unit in Manalapan, New Jersey.

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Citi requires vaccines for all US workers

The bank, citing President Joe Biden's directive to federal contractors, is asking staffers to submit proof of vaccination by Dec. 8.

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Raymond James faces compensation pressure

Raymond James was having to pay up to recruit advisers. Now, it's feeling the same pinch for employees.

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Ameriprise makes headway in bank broker market, Cracchiolo says

The firm entered the bank broker business four years ago when it bought Investment Professionals Inc.

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Chet Payne named president of Arkadios Capital

The former chief operating officer of Triad Advisors had been the Atlanta firm’s COO.

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Dimon boosts JPMorgan wealth advisers’ pay from Windsor Castle

The overhauled compensation structure is tied to revenue production and features a length-of-service award for high performers with additional revenue, which will be paid in restricted stock units.

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SEC enforcement director stresses ‘proactive compliance’ on Reg BI

The rule goes 'significantly beyond' suitability, and firms should give their reps the tools they need to 'identify, disclose and mitigate conflicts prohibited under Reg BI,' Gurbir Grewal said.

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Advisers managing $3.1 billion join Janney in Q3

Most of 21 recruits came from Truist, Wells Fargo and Merrill Lynch.

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Robinhood says SEC faces high legal burden to change broker-app rules

As the agency looks at whether game-like features used by the online trading platform lead to excessive trading by retail investors, Robinhood says additional regulation could be rejected by U.S. courts.

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NASAA seeks comment on new rules for unpaid arbitration awards

If the model rules were adopted, states would have more power to collect millions in fines.

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LPL to pay $4.8 million over anti-money laundering charges

Last year, the SEC charged the unregistered adviser at the heart of the matter with defrauding a town in Puerto Rico and misappropriating $7.1 million.

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Morgan Stanley trio managing $315 million joins Raymond James

The team, including James Wendling, Steven VanDerSchaaf andClint Allman, have moved to the employee unit of Raymond James in Davenport, Iowa.