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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.
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.
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.
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.
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.
From the C Suite with Raymond James' CEO Paul Reilly: Listen and learn. But in a crunch, be decisive
Exec honed his listening and peacemaking skills growing up as the third of eight children and those talents have come in handy.
The latest ranking of independent broker-dealers by rep head count
Even if recruiting at independent broker-dealers has hit a wall, the industry still features a number of firms with expanding numbers of registered reps.
Largest independent broker-dealers enjoy double-digit revenue growth
Despite lackluster sales of commission-rich products, 2014 revenues grew in line with the broad market. What does 2015 have in store? (Plus: Our full Top Independent B-Ds of 2015 special report)
LPL Financial's Dan Arnold is managing amid complexity
Robert Moore's successor as LPL president talks about his earlier career and the challenges facing the independent broker-dealer industry
Stifel's purchase of Sterne Agee likely not its last in the broker-dealer space
The acquisition signals Stifel's interest in growing its wealth management business, though future deals depend on what's available — and at what price, according to CEO Ron Kruszewski.
Merrill Lynch's John Thiel urges colleagues to work with DOL on fiduciary rule
At least one major industry player is taking a more welcoming stance toward working with the Labor Department as it seeks to create a rule that would hold brokers to a fiduciary standard when dealing with retirement plans.
Investors see few benefits of lower fees in adviser-sold investments
Managed accounts sold by advisers deflect trend toward lower-fee money management as brokers work to maintain profits: Cerulli.
Forget personality tests, Edward Jones uses job simulation to assess potential hires
Firm finds virtual assessments in which candidates perform key duties are better at determining retention.
Edward Jones continues push into proprietary funds
Brokerage giant is expanding its lineup of proprietary mutual funds for its 12,000 brokers and financial advisers a year and a half after the firm launched its first fund.
SEC's Gallagher slams White House fiduciary memo as 'propaganda'
Commissioner says administration ignores industry's stiff oversight by market regulators.