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What hurt LPL's recruiting recently? Old Man Winter
LPL Financial has suffered a recruiting slowdown in the first quarter and puts part of the blame on an unusual factor — this winter's rough weather.
Finra's BrokerCheck comes under fire
Database omits bankruptcies, tax liens, and other vital information, lawyers group claims
Closed doors at Finra hide the whole industry's shame
Finra's second diversity conference in New York on Tuesday featured a number of key industry speakers who touted the importance of recruiting, retaining and promoting more women and minorities in the industry. “Diversity is strength — even a group of best point guards cannot win a basketball game,”
Woodbury Financial Services promotes Rick Fergesen to president and CEO
Broker-dealer had sought a new chief since Pat McEvoy resigned in December.
RIAs lead the way in M&A as roll-ups step back: Schwab
Registered investment advisory firms were the biggest acquirers among wealth management practices last year, displacing an increasingly selective set of roll-up firms, according to data released Tuesday.
Ex-UBS banker pleads guilty in 17-year U.S. tax scheme
Martin Lack admitted that for 17 years he helped U.S. clients maintain secret overseas accounts.
Tuning in to adviser needs with ensemble practices
Ensemble and super ensemble practices are becoming the most popular choice of business model for independent advisers.
Finra fines, complaints drop as market improves
Finra reports that suitability fines and customer complaints have dropped as the financial crisis has faded further into the rearview. It's not all smooth sailing, however, as new regulatory priorities have emerged.
Breakaway consultant eyes new wirehouse targets
Sanctuary's Jeff Spears says independents need to become more sophisticated to attract top teams.
Controversial analyst trades barbs with JPMorgan Chase execs over asset management unit
Mike Mayo, the analyst who sparred at JPMorgan Chase's 2013 investor day with chief executive Jamie Dimon, challenged the bank at Tuesday's event about the logic of holding an asset-management business.
Finra fines Berthel Fisher $775,000 for compliance failures
Regulator said IBD didn't adequately train or supervise brokers selling alternative investments and nontraditional ETFs .
Nontraded BDC to list shares on NYSE
Nontraded real estate investment trusts for the past year have been steadily listing on stock exchanges, merging with other REITs, or announcing such plans, providing investors with liquidity or hopes for liquidity. Now, a nontraded business development company will take a turn at a liquidity
Building a business – not just a practice
How does an adviser go from maintaining a practice to building a vibrant, viable – and scalable – business that has both growth potential and transferable value? This white paper highlights three key areas and outlines multiple steps for adopting a CEO state of mind and building a more valuable ...
Schwab aims to help breakaways skip IBDs on path to independence
Broker-dealers are no longer considered a necessary step on the road to RIA, says Bernard Clark, head of the adviser services division at Charles Schwab.
Finra seeks to beef up use of BrokerCheck
Revives proposal that would require brokerages to link to regulator's database, including disciplinary background info.
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February 27, 2014