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The independent broker-dealers with the biggest revenue and asset gains in 2014
Revenues at the largest independent broker-dealers grew 10.3% year-over-year in 2014, a figure in line with the broad market but below the 13.2% year-over-year revenue increase in 2013.While LPL Financial and Ameriprise dominate the independent broker-dealer industry based on total revenue, a group
The latest ranking of independent broker-dealers by rep head count
Even if recruiting at independent broker-dealers has hit a wall, the industry still features a number of firms with expanding numbers of registered reps.
The independent broker-dealers that offer the highest average payouts
In 2014, independent broker-dealers enjoyed double-digit revenue increases, but adviser recruiting slowed considerably.While adviser movement may have decreased in 2014, average payouts remained robust at the industry's best-paying firms. We've ranked the top-paying independent broker-dealers based
Ameriprise relaunches Columbia Management as Columbia Threadneedle Investments
Pulling together Columbia and UK-based Threadneedle, the new combined firm will manage $506 billion globally.
Ameriprise to pay $27.5 million settlement in 401(k) fiduciary breach suit
Firm denies allegations made by its own retirement plan participants in four-year-old case that was set to go to trial April 13.
Don Froude stepping down as president of Ameriprise's personal advisers group
Froude, who oversees about 9,700 advisers, has been in the role since 2008. He will turn his focus to "field initiative and projects" at the company.
SEC settlement ends saga for former Ameriprise exec who aided SAC Capital insider case
A former Ameriprise Financial Inc. money manager who pleaded guilty to securities fraud must pay $390,103, a figure roughly equal to the gains regulators said her funds earned based on an insider tip about Yahoo.Law enforcement officials said Reema D. Shah, a tech-stock picker for Ameriprise
Raymond James, Ameriprise deliver higher profits, helped by adviser growth, wealth management
Raymond James and Ameriprise reported double-digit profit gains, with Raymond James posting record quarterly net income. Here's how they did it.
Ex-Ameriprise adviser pleads guilty to stealing nearly $1 million
Susan Walker admitted to accusations she used $980,000 of client assets to pay for personal expenses, including vacations and private school tuition.
Ameriprise advice unit reports 29% increase in pretax profit
Ameriprise Financial Inc.'s advice and wealth management unit reported pretax operating earnings of $194 million for the three months ended in June, an increase of 29% over the same period last year. The increase reflected “robust revenue growth and expense controls,” the company said in a
Ameriprise ordered to deliver Columbia funds chief's journals to ex-staff
In Ameriprise case, federal judge rules chief executive of the firm's mutual fund unit must hand over documents in lawsuit over retirement plan's use of proprietary funds.
Indie reps happier at work than employee advisers: J.D. Power
Independent advisers continue to be happier at work than their colleagues who are employees of broker-dealers but the gap in job satisfaction among the two groups is narrowing. See how your firm ranks
2Q a mixed bag for big firms
The second quarter was a mixed bag for three financial services industry giants that posted earnings last week. Fighting bond market head winds, Raymond James Financial Inc. posted modest profit gains for its fiscal third quarter ended June 30, just missing analyst estimates. Net revenue of $1.11
Five IBDs in $7M settlement over nontraded-REIT sales
Sales of nontraded real estate investment trusts once again have come under the scrutiny of securities regulators as William Galvin, the secretary of the Commonwealth of Massachusetts, last week announced settlements with five leading independent broker-dealers to make $6.1 million in restitution
Ameriprise 401(k) lawsuit set for January court date
Ameriprise workers filed suit in 2011, claiming firm profited from costly plan options