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Breaking away for the wrong reason
Regulators are concerned that brokers are jumping into the RIA channel to take advantage of a lax regulatory climate.
Reining in expungements
Move to restrict broker expungement should improve confidence that the arbitration system is fair to investors.
Struggling broker-dealer Fintegra files for bankruptcy
Most Fintegra brokers move to Securities America after their former firm is ordered to pay $1.5 million arbitration award.
Activist investor takes 6% stake in LPL Financial, sending stock higher
Marcato Capital Management says in a regulatory filing that shares of the independent broker-dealer are undervalued. The stock was up nearly 4% Tuesday amid a broad market sell-off.
How Nick Schorsch lost his mojo
Nicholas Schorsch made hundreds of millions in real estate, but an accounting scandal devastated his business.
LPL and $775 million adviser part ways amid investigation
The broker-dealer and its top adviser in Louisiana cut ties after the adviser received a Wells notice announcing a Finra investigation. Adviser says the separation is unrelated.
American Funds making inroads with fee-based advisers
In its sales turnaround, third largest U.S. fund company relies on retention of existing advisers and lower-cost share classes.
How a weekend client raid blew up and a brokerage battle went public
Arbitration case alleges that Oppenheimer & Co. stepped beyond the bounds of propriety in mounting a client raid on Peter Schiff's Euro Pacific over a three-day weekend this summer.
How independent broker-dealers are utilizing technology today
The InvestmentNews Independent Broker-Dealer Technology Survey was conducted in August. 42 IBDs participated. Below is a snapshot of the technological spending and usage in the IBD channel. Visit InvestmentNews.com/bddata for complete profiles and financials of individual firms.
Finra cracks down on 'cockroach' brokers
Finra bars 10 at New York broker-dealer Global Arena Capital Corp. after investigating brokers who migrated from an expelled firm.
Big IBD Next Financial on the block
Though top officials are keeping mum, industry executives say prospective buyers have been kicking the tires on this indie brokerage with 739 affiliated registered reps and advisers.
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.
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.