Regional Brokerages

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  1. Articles

    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.

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    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.

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    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.

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    SEC's Gallagher slams White House fiduciary memo as 'propaganda'

    Commissioner says administration ignores industry's stiff oversight by market regulators.

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    Stifel in talks to acquire Sterne Agee

    A deal, which would combine two of the biggest U.S. brokerages outside of New York, could be announced within days, according to a person with direct knowledge of the matter.

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    Cetera president blasts White House memo defending DOL fiduciary

    Arguments continue on both sides about the merits of the recently-leaked White House memo and what it means for the standard's future prospects.

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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.

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    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.

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    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

  8. Articles

    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.

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    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."

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    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.

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    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.

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    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.

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    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.