United Capital Financial Advisers will acquire the assets of Peak Capital Investment Services – an advisory firm with $600 million in assets under management – executives revealed at the Schwab Impact Conference here in San Francisco today.
Less than 24 hours after revealing that they had received an unsolicited takeover proposal from the Sterne Agee Group Inc., officials for SWS Group Inc. — a Dallas-based firm with several hundred advisers—unanimously rejected the offer.
In an internal memo obtained by Reuters, the new boss of UBS says the bank's U.S. brokerage is not being shopped -- despite rumors to the contrary. | <a href=http://www.investmentnews.com/article/20110926/FREE/110929946>PR disaster could curtail UBS' generous recruitment packages</a> | <b>Extra</b> <a href=http://www.investmentnews.com/apps/pbcs.dll/gallery?Site=CI&Date=20110923&Category=FREE&ArtNo=923009998&Ref=PH>What top RIA execs make</a>
After the Dow Jones Industrial Average dropped more than 200 points just before 3pm ET., the index staged an incredible 636 point turnaround to close at 11,240, up 3.98% for the day — just one day after one of the worst performances in stocks market history.
LPL Financial will acquire Concord Capital Partners, the first acquisition for the independent broker-dealer since its parent company --LPL Investment Holdings-- went public in November.
With a number of indie B-Ds shuttering in the last 12 months, nearly 2,400 reps have been forced to find new broker-dealers.
CFO's resignation comes just months after departure of company's CEO
SWS Group Inc. said Thursday its chief executive of eight years has resigned to pursue other interests; board member steps in on interim basis
The three Transparent Value offerings based upon the Dow Jones RBP directional indexes include a U.S. large-cap aggressive index fund, a U.S. large-cap defensive index fund, and a U.S. large-cap market index fund
The total comp doled out to Morgan Stanley's brokerage unit rose 41% in the first nine months of the year. The reason? Mostly, guaranteed payouts to Smith Barney brokers.
