The head of Schwab Advisor Services apologized yesterday to the firm's RIA clients for sending a marketing piece sent Aug. 9 to advisers' clients who sponsor Schwab-run retirement plans.
A year after pulling off the high-profile acquisition of a leading network of independent broker-dealers, Lightyear Capital LLC, which is controlled by former PaineWebber chief executive and chairman Donald Marron, is back in the market looking to raise more than $1 billion from investors.
While Securities America looks to find a suitor -- and tries to stop reps from bolting -- other B-Ds are on the prowl for the firm's top producers. The big winner so far? LPL.
A broker-dealer that was a prominent seller of high-risk private placements that wound up going bust has almost wiped the slate clean of costly litigation that could have impaired the firm's financial condition.
Investors Capital Holdings Ltd. has a new set of owners: its employees, advisers, and their clients.
Investors Capital Holdings Ltd., a publicly traded independent broker-dealer that put itself up for sale this month, could be an attractive acquisition for LPL Investment Holdings Inc. and several other large broker-dealers, according to analysts
For the past 10 years, executives at the largest independent broker-dealers have been predicting a tide of consolidation, with economics forcing smaller firms to shut down or sell out to bigger firms.
Recruiting will become more expensive in 2011 as the fight for top advisers heats up among independent broker-dealers looking to bounce back from a lackluster 2010.
National Financial Partners, a consolidator of insurance-brokerage and financial-planning firms, has acquired Fusion Advisor.
As the financial advisory industry continues to evolve, more investment professionals and firms are embracing the hybrid registered investment adviser model.
The firm is seeking $344K from the ex-broker - and current Hamilton County, Ohio trustee - for alleged 'unauthorized withdrawals' from a client's account.
Newbridge Securities to pay $850,000 as part of class action settlement
The largest U.S. broker-dealers may be asked to pay more than $1 million a year to fund annual inspections required by the Dodd-Frank Act, according to a proposal by the panel that oversees public-company audits.
Another small, independent broker-dealer that faces mounting legal claims is exiting the business, this time after selling real estate deals by a bankrupt syndicator.
<a href=http://www.investmentnews.com/apps/pbcs.dll/section?category=datajoe&djoPage=summary&issuedate=20100423&sid=BD0426&djoProjId=10994&djoRecordId=342440#record_342440>LPL Investment Holdings Inc.</a> will look to recruit at least 400 net new registered reps and investment advisers this year and into the future, while top executives at the firm acknowledge that attracting top brokers is getting more expensive.
After 20 years of working within the strict confines of a bank trust department, adviser Robert Kaercher was ready for a change.
Three independent broker-dealers are suing their insurance carriers for failing to cover investors' legal claims, with one charging that its carrier has exposed it to “financial ruin.”
Nearly 100 small to midsize independent broker-dealers find themselves in trouble over sales of tenant-in-common exchanges, a form of real estate ownership in which two or more parties hold fractional interests in a property
Robert W. Baird & Co. Inc. is opening up an office in Salt Lake City to offer financial advice with the help of Dean Cottle, a veteran wirehouse complex manager from Morgan Stanley Smith Barney LLC.
The Securities and Exchange Commission has alleged that an independent broker-dealer that was a leading seller of allegedly fraudulent private placements failed to conduct reasonable investigations into the offerings — and pocketed fees for due diligence without adequately researching the instruments
