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LPL Financial names William Morrissey to replace Derek Bruton
William Morrissey, a 10-year company vet responsible for recruiting new advisers and their practices, was appointed head of LPL Financial's Independent Advisor Services unit, replacing Derek Bruton.
A better TIC?
Newfangled private placements called DSTs offer some improvements to TICs, many of which backfired during the financial crisis, but DSTs still carry high costs and are illiquid. Bruce Kelly has the story.
Sterne Agee Group in deal to acquire midsize independent broker-dealer WRP Investments
Match 'made in heaven' says president of WRP, which has 350 reps and had $48 million in gross revenue in '13.
J.P. Turner gussies up for Schorsch
Independent B-D spends $8.8 million to resolve litigation prior to acquisition by RCS Capital.
Raymond James nets $640 million J.P. Morgan duo
The firm picked up a father-son team of Michael and Benjamin Cohen who previously generated $4.2 million in production at J.P. Morgan Securities.
John Hancock B-D to terminate health and insurance benefits
Registered representatives at Signator Investors Inc., John Hancock's broker-dealer, received some dismaying news on Tuesday: The firm will be terminating its health and insurance benefits and will freeze its retirement benefits plan at the end of the year. Effective Jan. 1, 2015, the firm will
Former Vermont securities director joins LPL as a compliance officer
John Cronin will oversee supervisors in the Northeast; 'it's like hiring an IRS guy to be your CPA.'
Account opening is No. 1 tech concern: Survey
Beacon finds 'client onboarding' has replaced social-media archiving as brokers' biggest technology challenge.
Infographic: Meyers Associates' Finra BrokerCheck records
Last Friday, senior columnist Bruce Kelly reported on Meyers Associates, a firm that stands out for all the wrong reasons. InvestmentNews reviewed Finra records of 75 Meyers Associates brokers, and found that the percentage of registered representatives with a disclosure event is an astounding five
BrokerCheckmate: Finra marks wave big red flag
Bruce Kelly reports about Meyers Associates, a small New York broker-dealer with five times the industry average of registered reps with marks, or 'disclosure events' on their record.
LPL hit with Finra fine for alternative investment sales
Products include nontraded REITs, oil and gas partnerships, BDCs, hedge funds and managed futures.
Inland American offers limited liquidity event through tender offer
Inland American offers shareholders a way to cash out, but place limits on the buyback and values shares at no more than $6.50 a share.
Schorsch's stock rising
Shares of company nontraded REIT czar is using to build a B-D empire have more than doubled since beginning of December .
Where your young boomers prospects are going for advice
Investors across all wealth tiers are more accepting of online advice models, such as self-directed platforms, Cerulli reports.
Finra fines two IBDs owned by Ladenburg Thalmann a total of $1.275M
Triad Advisors, Securities America failed to supervise reps who created and sent inaccurate consolidated account statements to clients, regulator says.
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February 27, 2014