Broker Dealers

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LPL building out alts, banking services to chase wirehouse advisors, new CEO says
NEWS BROKER DEALERS OCT 31, 2024
LPL building out alts, banking services to chase wirehouse advisors, new CEO says

New chief executive Rich Steinmeier replaced Dan Arnold on October 1.

B. Riley eases debt pressure further with $236M asset sale
NEWS BROKER DEALERS OCT 29, 2024
B. Riley eases debt pressure further with $236M asset sale

The troubled company is continuing to shore up its ailing balance sheet as part of a longer road to refocus on its core financial services business.

Hybrid RIA network Kestra welcomes Wealth Empowerment Financial Strategies
NEWS BROKER DEALERS OCT 29, 2024
Hybrid RIA network Kestra welcomes Wealth Empowerment Financial Strategies

The $103B independent wealth platform's latest addition in Boca Raton, Florida comes after bolting from embattled firm B. Riley.

Raymond James swipes another billion-dollar advisor from Merrill
NEWS BROKER DEALERS OCT 25, 2024
Raymond James swipes another billion-dollar advisor from Merrill

The latest addition to the firm's employee advisor arm in Fort Worth, Texas comes with roughly four decades of experience.

LPL lands $800M advisor group from Osaic
NEWS BROKER DEALERS OCT 24, 2024
LPL lands $800M advisor group from Osaic

The independent broker-dealer's newest affiliate team offers planning and wealth management services to executives, engineers and medical practitioners.

As Osaic consolidation winds down, are job cuts on the horizon?
NEWS RIAS OCT 23, 2024
As Osaic consolidation winds down, are job cuts on the horizon?

“With this rapid pace of change, there is always the potential for attrition and elimination of duplicative roles as natural outcomes," said Dimple Shah, executive vice president.

Raymond James bags $1B Merrill team
NEWS BROKER DEALERS OCT 23, 2024
Raymond James bags $1B Merrill team

The independent wealth giant's latest addition to its employee advisor channel extends its reach in New York's high-net-worth space.

Rich Steinmeier confirmed as LPL's new CEO
NEWS BROKER DEALERS OCT 21, 2024
Rich Steinmeier confirmed as LPL's new CEO

The broker-dealer giant's board finalized Steinmeier's chief executive appointment while elevating Matt Audette to president role.

RIA M&A activity cools in Q3, but $1B plus deals are on the rise
NEWS RIAS OCT 21, 2024
RIA M&A activity cools in Q3, but $1B plus deals are on the rise

Fidelity's latest industry report shows deal pace slowing to healthier levels, with private equity continuing to play a significant role.

Raymond James nabs $470M Merrill team
NEWS BROKER DEALERS OCT 21, 2024
Raymond James nabs $470M Merrill team

The broker-dealer giant is extending its Midwestern presence as a veteran-led team joins its employee advisor channel.

LPL charges that Ameriprise pays 'lip service' to independent advisors in latest lawsuit salvo
NEWS RIAS OCT 18, 2024
LPL charges that Ameriprise pays 'lip service' to independent advisors in latest lawsuit salvo

“These kinds of lawsuits have a chilling effect on the free market,” one attorney notes.

World Investment Advisors inks agreement with Raymond James
NEWS BROKER DEALERS OCT 17, 2024
World Investment Advisors inks agreement with Raymond James

The recently renamed wealth firm says its new custodial partnership unlocks additional options for its advisors.

LPL lures $450M advisor group from Raymond James
NEWS BROKER DEALERS OCT 16, 2024
LPL lures $450M advisor group from Raymond James

The firm is extending its network in Florida as eight defecting advisors seek "long-term sustainability."

Raymond James extends Nevada presence with $1.1B powerhouse team
NEWS BROKER DEALERS OCT 16, 2024
Raymond James extends Nevada presence with $1.1B powerhouse team

The firm is enhancing its employee advisor channel as a quartet of experienced professionals from RBC join its Las Vegas branch.

Cetera adds "rising star" advisor in Arkansas
NEWS BROKER DEALERS OCT 16, 2024
Cetera adds "rising star" advisor in Arkansas

The broker-dealer giant's latest addition in the South is making a move to independence by launching his own firm.

Broker-dealer giant Osaic taps Kristy Britt as CFO
NEWS BROKER DEALERS OCT 15, 2024
Broker-dealer giant Osaic taps Kristy Britt as CFO

The PE-backed wealth giant is welcoming the veteran with over 20 years of experience to help lead its next phase of growth.

$117B Kestra wins vote of confidence in new Stone Point deal
NEWS BROKER DEALERS OCT 15, 2024
$117B Kestra wins vote of confidence in new Stone Point deal

The independent broker-dealer is getting fresh fuel for its growth efforts as the leading PE player agrees to take a majority stake.

LPL extends Florida presence with former Synovus advisor
NEWS BROKER DEALERS OCT 14, 2024
LPL extends Florida presence with former Synovus advisor

The wealth giant's latest addition is joining the firm's Miami operation through an existing affiliate.

Another ex-Edelman advisor joins Baird in Virginia
NEWS RIAS OCT 10, 2024
Another ex-Edelman advisor joins Baird in Virginia

The employee-owned hybrid firm's latest hire in Fairfax reportedly managed $285M at his previous firm.

$300M Osaic advisor team comes home to Equitable
NEWS RIAS OCT 10, 2024
$300M Osaic advisor team comes home to Equitable

The women-led group of advisors with more than 60 years of combined experience are rejoining the firm's supported independence platform in Hawaii.