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Finra board eyes raising arb fees to increase arbitrator pay
Finra is considering raising the fees related to pursuing an arbitration claim against a brokerage firm in order to increase the pay for people who hear the cases.
National Planning slammed with $6.2M arbitration award
In a dispute focused on real estate investments, the indie B-D and a former broker 'breached fiduciary duty, were negligent,' complaint says. Big award comes with split decision.
Finra booted 16 rogue brokers this year, targeted 26 more for 'action'
High Risk Broker initiative led to "concentrated effort" and "material results," Finra CEO wrote in letter to Sen. Edward Markey, D-Mass.
Gold's luster going from bad to worse
Plus: How-to for advisers going solo, global investors bail on Obama, deflating market bubble babble
Schorsch snaps up Summit for $49M
Nicholas Schorsch and RCS Capital Corp. continue their blistering pace of broker-dealer acquisitions, announcing the acquisition of Summit Financial Services Group Inc. for $49 million in cash and stock.
SEC to mutual fund industry: Stop promising safety and protection
Today's Breakfast with Benjamin: The regulator tells the mutual fund industry to stop promising safety and protection. Plus, the QE government bonanza, JPMorgan's Twitter beatdown, SAC Capital trial could go inside the hedge fund.
Prepping Janet Yellen for the hot seat
Plus: Elizabeth Warren vs. Wall Street, emerging markets see downside of credit boom, and the realities of alternative energy investments. All in Breakfast with Benjamin.
SIFMA vows to put customers first
A leading Wall Street trade organization is encouraging financial firms to put their clients’ interests ahead of their own when providing retail financial advice, although it is not calling for brokers to be subject to a fiduciary standard. On Thursday, the Securities Industry and Financial Markets
John Sykes' JHS Capital Advisors challenged by annual losses, handful of Finra arbitration claims
John Sykes' first broker-dealer holding company, GunnAllen Holdings, is out of business and his second, JHS Capital, has sustained significant losses and faces a handful of Finra arbitration claims. Bruce Kelly reports.
Adviser channel migration trends
A look at the top B-Ds by percentage of advisers that rate a 'strong likelihood' to consider joining, plus net change in AUM at each B-D.
Online platforms a growing threat to traditional advisers
Two reports show growing popularity of web-based personal finance startups and discount brokerage platforms in wake of 2008 crisis
UBS pegs Puerto Rican bet at $41 million
Brokerage unit posts third quarter trading decline but still delivers pretax profit.
Under new structure, fewer MetLife advisers pushed to produce more
Restructuring puts two MetLife B-Ds under one roof, ups pressure to sell proprietary products.
Senator: Finra too weak to go after deadbeat brokers
Sen. Ed Markey, who wrote the legislation that led to the creation of BrokerCheck, is calling for stricter regulator enforcement for brokers who violate securities rules and continue to practice.
Bank of America Merrill Lynch exec named to lead ING broker-dealer
Thomas Halloran, who was the managing director overseeing product strategy and acquisition for Merrill Edge, named to lead B-D ING Financial Partners.
- Facebook's five-star ratings: The end of business pages for advisers?
- Pimco's El-Erian to step in to shore up $3B multi-asset fund
- Rebound in gold suits big guns Paulson, Soros
- New 3.8% surtax means new tax strategies for business owners
- Mountain of money in nontraded REITs continues to hold Wall Street's attention
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Blaine Aikin CEO, fi360
Timothy Welsh, CFP President and Founder, Nexus Strategy, LLC
Justin Wisz Co-Founder & CEO, Vestorly