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Commonwealth recruits $1 billion team from Edward Jones
Temple, Texas-based Cedarwood Financial Partners specializes in retirement planning services.
Team managing $300 million at Securities America joins LPL
Vancouver, Washington-based advisors Eric Fenton and Rodney Wangler founded their firm in 2001.
Cetera nabs giant office from Securities America
The Patriot Financial Group, based in a suburb of Boston, works with 70 financial advisors who have $2.5 billion in client assets.
Arizona advisor managing $200 million joins LPL from Cambridge
David Dobrusin is both a CPA and a certified financial planner.
Expect giant branch offices at IBDs to flex their muscle
There are plenty of private equity managers left who could still invest in large branch offices of independent broker-dealers.
LPL shares remain analyst’s top pick in 2023
The share price of LPL Financial Holdings Inc. increased 27% over the past year, even as the S&P 500 index fell 19.4%.
Raymond James adds Tennessee team managing $832 million
The nine-member group, which will do business as Fountain Financial Group, had been affiliated with First Horizon Advisors.
Advisor managing $160 million joins LPL from Ameriprise
Dallas-based Matt Irwin has 24 years of experience, all with Amerprise and a predecessor firm.
B-D SPAC deal takes shape; Larry Roth to have lead role
When aggregator Wentworth Management Services goes public by merging with a SPAC, Kingswood, sometime in the next few months, industry veteran Roth will serve as chairman.
Rep monkeyed around with client information to sell more GPB: Finra
Using white out and other means, the rep doctored client financial information disclosure forms, according to Finra.
GWG bondholders tee up lawsuits against broker-dealers, executives
GWG was a 'classic Ponzi scheme,' according to a group representing investors.
Indiana indie with $220 million joins Commonwealth from Cambridge
Accounting-oriented Strategic Planning Group is based in Fishers, Indiana.
$830 million indie team moves to LPL from Royal Alliance
Kansas-based Strategic Partners is affiliating with LPL through National Financial Alliance.
Thank you, 2022, from InvestmentNews
I’m grateful to have led the remarkable team at InvestmentNews as editor-in-chief in 2022, and we have great expectations for 2023.
Dynasty IPO is still in the cards, Shirl Penney says
Despite Dynasty's sales of minority ownership stakes to Schwab and a private equity investor, a public stock offering is still the best long-term strategy for the platform, the CEO says.
This year should have been worse for broker-dealers
One of the big themes in 2022 was how well the broad retail wealth management industry has insulated itself from the downside of the bust part of the cycle.
Raymond James ordered to pay $12 million to Texas plane crash families
The pilot, Jeffrey Weiss, had been a financial adviser with Raymond James & Associates in Houston.
At LPL Financial, advisory assets are far sweeter than brokerage
An LPL presentation on the return on various types of assets shows the age of advisory assets and fees has arrived in the broad financial advice industry.
Stifel adviser managing $200 million joins Raymond James team
Howard Kaplan is affiliating through indie Riegel Financial in Ohio.
Nontraded REIT chickens come home to roost at wirehouses, RIAs
The liquidity issue is squarely in the laps of financial advisers who have never had to deal with the difficulties posed by nontraded REITs before.