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LPL Financial names William Morrissey to replace Derek Bruton
William Morrissey, a 10-year company vet responsible for recruiting new advisers and their practices, was appointed head of LPL Financial's Independent Advisor Services unit, replacing Derek Bruton.
A better TIC?
Newfangled private placements called DSTs offer some improvements to TICs, many of which backfired during the financial crisis, but DSTs still carry high costs and are illiquid. Bruce Kelly has the story.
Sterne Agee Group in deal to acquire midsize independent broker-dealer WRP Investments
Match 'made in heaven' says president of WRP, which has 350 reps and had $48 million in gross revenue in '13.
J.P. Turner gussies up for Schorsch
Independent B-D spends $8.8 million to resolve litigation prior to acquisition by RCS Capital.
Raymond James nets $640 million J.P. Morgan duo
The firm picked up a father-son team of Michael and Benjamin Cohen who previously generated $4.2 million in production at J.P. Morgan Securities.
John Hancock B-D to terminate health and insurance benefits
Registered representatives at Signator Investors Inc., John Hancock's broker-dealer, received some dismaying news on Tuesday: The firm will be terminating its health and insurance benefits and will freeze its retirement benefits plan at the end of the year. Effective Jan. 1, 2015, the firm will
Former Vermont securities director joins LPL as a compliance officer
John Cronin will oversee supervisors in the Northeast; 'it's like hiring an IRS guy to be your CPA.'
How to explain your transition package to clients
After working with thousands of reps over the years, I don't believe this new regulation will deter unhappy financial advisers from moving to firms offering more opportunities for growth.
Berthel Fisher has new lease on life
Since the credit crisis, the financial advice industry has been littered with the dead shells of IBDs that sold fraudulent private placements before the crash. Berthel Fisher has survived. Bruce Kelly has the story.
Account opening is No. 1 tech concern: Survey
Beacon finds 'client onboarding' has replaced social-media archiving as brokers' biggest technology challenge.
Infographic: Meyers Associates' Finra BrokerCheck records
Last Friday, senior columnist Bruce Kelly reported on Meyers Associates, a firm that stands out for all the wrong reasons. InvestmentNews reviewed Finra records of 75 Meyers Associates brokers, and found that the percentage of registered representatives with a disclosure event is an astounding five
BrokerCheckmate: Finra marks wave big red flag
Bruce Kelly reports about Meyers Associates, a small New York broker-dealer with five times the industry average of registered reps with marks, or 'disclosure events' on their record.
Independent B-Ds eager to see more M&A activity as Schorsch takes breather
Large shareholder of National Holdings urges firm to take advantage of 'window of opportunity'
Morgan Stanley to pay fine over CFTC customer-fund claims
Morgan Stanley will pay $490,000 to settle U.S. Commodity Futures Trading Commission allegations that the company failed to adequately oversee customer funds.
Envestnet aggressively taking market share from wirehouses
CEO says majority of high net worth clients will move toward independent advisers
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February 27, 2014