Three sole practitioners managing $297 million in total are also moving to the firm.
Craig Zaleck and Mark Hogan, who are based in Bayonne, New Jersey, will affiliate through super OSJ INC Advisors.
The four-adviser group is moving to the firm’s employee unit in Augusta, Georgia and will operate as the Cypress Wealth Group.
Private Advisor Group has taken the unusual step of launching its own broker-dealer with the intention of putting it in better position to grab referrals.
The Atlanta-based, woman-led team is affiliating through Gladstone Wealth Partners, an office of supervisory jurisdiction.
The overturned Trump regulation would have provided certainty to independent brokers and advisers, FSI said. But an advocacy group says DOL has the authority to go in a different direction.
The broker, Matthew Clason, transferred more than $668,000 from the victim’s investment accounts into a joint bank account and then took most of it, according to the Department of Justice. He faces up to 20 years in prison.
Jeffrey Schiffman joins the firm’s employee unit in Palm Beach Gardens, Florida.
A father-and-son duo in Sarasota, Florida joins the firm’s employee channel.
Called Totus Wealth Management, the group had been registered until the end of last month with MML Investors Services, the broker-dealer arm of MassMutual, the insurance company, according to BrokerCheck.
Joel Drake in Des Moines, Iowa, is affiliating through The Wealth Consulting Group, an office of supervisory jurisdiction.
Group will join firm’s Deer Park, Illinois office in Chicago’s northwest suburbs
James Galkowski will open an office for the firm in Rochester, Minnesota.
The six-person Kraner group based in New Jersey is affiliating through INC Advisor, an office of supervisory jurisdiction.
The largest independent broker-dealer hit record asset levels as the advisory business continues to drive growth. Advisory assets increased by 54% on a year-over-year basis.
Cedar Brook Group, led by William Glubiak, is based in Cleveland and oversees 20 licensed professionals.
Chad Taylor launches Seapoint Wealth Advisors in San Diego using LPL's services for breakaway brokers.
This ranking of the top IBDs is based on their revenue and reflects data collected from firms that participated in InvestmentNews' independent broker-dealer surveys.
Last year, the 25 largest independent broker-dealers reported $26.6 billion in revenue, an increase of 4.3% from 2019. Although financial results were far from spectacular, growth at leading IBDs last year was resilient in the face of the Covid-19 pandemic and the havoc it caused for the broader stock market.
A 12-member group at the independent broker-dealer will work on company and industrywide initiatives.
