Independent Broker-Dealers

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  1. Articles

    NextShares wins its first adviser platform partner with Envestnet

    Envestnet has agreed to make NextShares, a unique hybrid of mutual funds and ETFs, available to some of its 41,000 affiliated financial advisers, delivering Eaton Vance its first distribution partner for the product.

  2. Articles

    LPL hires ex-Wells Fargo CTO for newly created tech position

    Anthony Perkins will oversee the broker-dealer's automated processes and the launch of the firm's robo-advisory software platform.

  1. Articles

    Ponzi schemer haunts AIG Advisor Group in arbitration decision

    FSC Securities is on the hook for a $1.28M arbitration award to investors who were swindled by a notorious con man featured on “American Greed: The Fugitives.”

  2. Articles

    Ex-JPMorgan banker partnered with his dad in a multi-year insider-trading ring

    Breakfast with Benjamin The banker was caught sharing insider information with his dad, who then used golf jargon to try and disguise the scheme.

  3. Articles

    RCAP to focus on cost-cutting at Cetera

    Now that RCS Capital Corp. has sold its wholesaling business, the cost-cutting can begin in earnest at the 11 broker-dealers with 9,500 advisers who make up its Cetera Financial Group, led by CEO Larry Roth.

  4. Articles

    LPL says competitors could be on hot seat with regulators

    As inquiries into the broker-dealer wind down, regulators' focus could turn to others in the industry, CEO Casady says.

  5. Articles

    Don't assume cash will rule where you move your practice

    Upfront money, transition bonuses and forgivable loans: They can be called a variety of things, but they all refer to the same thing — the capital a broker-dealer allocates to an adviser during the transition to their firm, in a forgivable form. There are several misconceptions about the transition

  6. Articles

    Finra fines Aegis Capital nearly $1 million over penny stock sales

    Broker-dealer also agreed to pay $950,000 as part of a settlement with Finra over allegations of improper sales of unregistered penny stocks and anti-money-laundering supervisory lapses.

  7. Articles

    'Dissident' candidate defeats Finra's hand-picked nominee for board seat

    Brian Kovack wants to make the organization more effective without antagonizing firms that are doing the right thing

  8. Articles

    Cetera closing J.P. Turner, offering some brokers jobs at Summit

    CEO Larry Roth claims the move is not part of any widespread consolidation within RCAP's retail brokerage division.

  9. Articles

    Under regulatory pressure, Voya restricts sales of more variable annuities

    Voya Financial Advisors has restricted sales of variable annuities for the second time in two months, as the brokerage firm faces increased pressure from regulators questioning the suitability of the products for retirement savers.

  10. Articles

    LPL Financial CEO Mark Casady says firm close to finish line with fines and settlements

    Chief executive Mark Casady says the firm has "couple things left to go" before enforcement actions resolved.

  11. Articles

    LPL sets lofty goal for more automated operations processes

    The company aims to ramp up its level of automation from 15% to 85% within the next few years.

  12. Articles

    LPL cracking down on brokers who collect retirement account fees from family members

    Anticipating an enforcement push, the broker-dealer told brokers that next year they will no longer be able to receive a fee or commission from retirement accounts belonging to family members.

  13. Articles

    Royal Alliance to pay $1.4 million over nontraded REIT, VA sales

    Award is tied to string of cases brought by retirees who said a broker placed them in unsuitable investments.