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Fidelity fined $350,000 in billing snafu
Finra said the firm overbilled more than 20,000 fee-based accounts in its RIA unit by $2.4 million over seven years and ordered it to pay a $350,000 fine.
Merrill to pay $400,000 over telemarketing compliance shortfall
New Hampshire Bureau of Securities Regulation says B-Ds do not “fully understand” how to comply with telemarketing rules.
2014 big for indexed annuities: Broker-dealer execs
The year isn't over yet, but executives at broker-dealers say they've had a major rise in the indexed-annuity business — to the point that it may be cannibalizing sales of variable annuities.At Raymond James Financial Inc., the annualized run rate for variable annuities is about $1.8 billion, a
Sterne Agee sues former CEO Holbrook
After firing James Holbrook Jr. in May, the regional brokerage alleges the former chief executive used corporate credit cards for personal expenses and company resources on sporting events.
SEC investigating top Oppenheimer executive
Firm's head of retail, Robert Okin, resigned last week. On his BrokerCheck page, he says that he "intends to vigorously defend himself if charges are filed."
Top independent adviser manages $3.5 billion in new ranking
More than 20,000 independent RIAs in the U.S. increased assets 82% to $2.3 trillion from 2007 to 2013 while assets at largest retail brokerages rose 8.2% to $6.2 trillion.
Regional broker-dealers need creativity to keep up in the recruiting arms race
With deep pockets aggressively recruiting assets tied to teams, advisers need to remember why they are paid bonuses in the first place.
Ex-Raymond James adviser barred over $1 million theft
Jo Ellen Fisher, an independent contractor with Raymond James Financial Services, allegedly stole $925,000 from a 95-year-old client to fund personal expenses, Finra says.
Schorsch adds industry veteran Dwyer to RCAP's team
Former executive at LPL Financial will head up firm's nontraded REIT wholesaling and distribution unit.
Edward Jones sponsors college-credit course to prep students for Series 7 exam
Course will be offered to financial and nonfinancial majors to offer them a taste of the advice profession.
Private client group gains drive Raymond James to record quarterly profit
Raymond James Financial continued to build on momentum as pretax profit in the private client group hit a record in the firm's third fiscal quarter, jumping 39% as profit margins reached 10%. What's CEO Paul Reilly doing right?
Baird snatches Wells Fargo adviser with $350M in AUM
Robert W. Baird & Co. Inc. has added a top broker from Wells Fargo and a new director to its Houston market.Gary Foose Jr. joins the firm as a director and financial adviser in Houston with $350 million in client assets and $1 million in annual production.“Gary's a high-integrity guy. He's been in
Ex-Sterne Agee broker faces expulsion over $6 million hedge fund
Finra charges broker Dean Mustaphalli opened fund and received commissions without disclosing the business to his firm. Whether Sterne Agee clients were affected remains a mystery.
As economy improves, veteran advisers stay put
Strong market performance keeps most clients and advisers in place. Check out our database to see who's moving where.
Opinions on bull market split following most recent run-up
After the S&P 500 reaches new heights, new questions surface on whether the market is headed up or down.
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