The firm is an employee-owned, independent partnership associated with Raymond James, and has found success with its collegial 'no-jerk policy' for those who'd like to join.
Picks up two Merrill Lynch groups with nearly $2 billion in assets; more deals might be on the horizon.
Differentiating themselves from brokers would be easier now that debate has raised investor awareness of the role of a fiduciary
Says wirehouse overbilled investment advisory clients due to coding and other billing system errors.
That rule is intended to safeguard clients' cash and securities so they can be promptly returned should the broker-dealer fail.
Advisers produced average annualized revenue of $1 million in the period.
This is at least the second time this fall that Merrill has had a high-profile termination over improper expense reporting.
From incubator relationship to back-office service provider.
Brokers will be expected to provide two referrals a year to the bank or face a 1% penalty on their payout. <b><i>(More: <a href="//www.investmentnews.com/article/20161011/FREE/161019987/morgan-stanley-sales-contests-among-advisers-didnt-help-clients"" target=""_blank"" rel="noopener noreferrer">Morgan Stanley sales contests among advisers didn't help clients</a>)</b></i>
First-quarter volume was up 11%, in part because of president-elect's frequent social media activity
Multiple forces are driving industry consolidation.
The deal is the latest example of the finance industry working with technology firms that provide services the old guard can't easily replicate.
Veteran adviser manages $170 million in client assets.
The team had $288 million in client assets and generated $1.7 million in fees and commissions annually.
The new head of one of the largest independent broker-dealers served as head of wealth management at UBS's Advisor Group Americas.
The wirehouse is facing a raft of customer complaints tied to its sales of the commonwealth's municipal bond funds.
The group of six brokers are joined by 325 confirmed African American brokers or trainees at the firm. There could be another potential 200 class members.
Phil Fiore Jr. was part of an $8 billion team and was selected by Barron's as a top adviser in Connecticut in 2015. <i><b>(More: <a href="//www.investmentnews.com/article/20161221/FREE/161229983/former-registered-representative-in-texas-arrested-for-internet"" target=""_blank"" rel="noopener noreferrer"> Former registered representative in Texas arrested for internet Ponzi scheme</a>)</i></b>
