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SEC appeals own judge's decision in case on custodians' payments to advisers for fund picks
The regulator is fighting a decision by its administrative judge to dismiss charges accusing two financial advisers of not informing clients they were paid by Fidelity Investments to sell certain mutual funds.
Voya restricts variable-annuity sales under regulatory pressure
In response to Finra's warning on suitability, the firm's affiliated brokers will no longer sell certain types of L share annuities, a move that puts the company in line with other B-Ds.
Cost pressures compel $24 billion B-D to sell stake to PE firm
Family-owned brokerage firm Lincoln Investment Planning has sold a 20% stake to Lovell Minnick Partners, a private equity firm.
Texas advisers claim a small victory in tax repeal
Independent brokers and investment advisers will no longer have to pay a $200 per-person yearly tax.
B-D mulls its options after major arb award
Fintegra is working to come up with a plan to save the company as its net capital falls below regulatory requirements.
Wealth managers' mobile apps aren't sophisticated: study
Mobile apps fail to serve high-net-worth clients effectively or offer the functionality they're looking for.
Hedge fund specialist SkyBridge pushes back against liquid alts trend
Liquidity, performance concerns and business conflict cause the expanding hedge-fund firm to take a more traditional approach to mutual funds.
Ladenburg Thalmann broker-dealer Securities Service Network adds $430M firm
The Horizon Group, a retirement planning firm formerly with Cadaret Grant, joins in Rochester, N.Y.
Stifel Financial in deal to buy Barclays' U.S. wealth unit
Stifel Financial agreed to buy Barclays Plc's U.S. wealth-management business, which has about 180 financial advisers in the U.S. managing $56 billion in total client assets.
Pershing CEO: RIA growth outpacing B-Ds
Ron DeCicco expects the RIA channel to continue growing while regulatory pressures and higher expenses weigh down broker-dealers.
LPL hires E*TRADE CFO Audette to replace Dan H. Arnold
Manager known as a 'turnaround artist' to take financial helm after Arnold bumped to president to replace Moore.
Stifel deal for Barclays unit would amp up ambitions to attract elite advisers
An acquisition of Barclays' U.S. wealth unit would add $47 billion in assets and 249 advisers who focus on ultrahigh-net-worth clients, filling a gap in Stifel Financial CEO Ron Kruszewski's advisory business.
Raymond James bolsters indexed annuities and life wholesaling with acquisition
Deal with insurance marketer Producers Choice is expected to give the broker-dealer greater control over the way annuities are wholesaled to its advisers.
Eaton Vance offers to pay broker-dealers that adopt 'NextShares' active funds
Firm faces challenge convincing broker-dealers to sell a new type of investment product.
Recent fine may hasten LPL Financial's shift to fee compensation
The broker-dealer acknowledges the growing importance of its fee and advisory businesses