Independent Broker-Dealers

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  1. 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

  2. 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.

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. 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.

  6. Articles

    Banks are cutting broker-dealer units from their 'living wills'

    Breakfast with Benjamin: The nation's biggest banks, like JPMorgan Chase, are lumping their broker-dealer units in with other 'non-essential' operations.

  7. Articles

    SEC appeals own judge's decision in case on custodians' payments to advisers for fund picks

    The regulator is fighting a decision by its administrative judge to dismiss charges accusing two financial advisers of not informing clients they were paid by Fidelity Investments to sell certain mutual funds.

  8. Articles

    Voya restricts variable-annuity sales under regulatory pressure

    In response to Finra's warning on suitability, the firm's affiliated brokers will no longer sell certain types of L share annuities, a move that puts the company in line with other B-Ds.

  9. Articles

    Stifel Financial in deal to buy Barclays' U.S. wealth unit

    Stifel Financial agreed to buy Barclays Plc's U.S. wealth-management business, which has about 180 financial advisers in the U.S. managing $56 billion in total client assets.

  10. Articles

    Pershing CEO: RIA growth outpacing B-Ds

    Ron DeCicco expects the RIA channel to continue growing while regulatory pressures and higher expenses weigh down broker-dealers.

  11. Articles

    LPL hires E*TRADE CFO Audette to replace Dan H. Arnold

    Manager known as a 'turnaround artist' to take financial helm after Arnold bumped to president to replace Moore.

  12. Articles

    Stifel deal for Barclays unit would amp up ambitions to attract elite advisers

    An acquisition of Barclays' U.S. wealth unit would add $47 billion in assets and 249 advisers who focus on ultrahigh-net-worth clients, filling a gap in Stifel Financial CEO Ron Kruszewski's advisory business.

  13. Articles

    Raymond James bolsters indexed annuities and life wholesaling with acquisition

    Deal with insurance marketer Producers Choice is expected to give the broker-dealer greater control over the way annuities are wholesaled to its advisers.