"This would effectively be a reset in earnings," the analyst wrote.
"With a big name like Blackstone, it's easier for a broker-dealer or RIA to get behind that brand," says industry executive.
The broker-dealer giant has unveiled plans to launch an ETF product platform next year, led by a former NYSE leader.
"No one has ever gone hungry working for Finra," said one compliance executive.
"The impact of these intended changes will be largely offset with the expected gains from the repricing of our investment portfolio," says Morgan Stanley executive.
App is playing an outsized role in advisor communications and it’s not just the hefty fines that have firms worried
From bringing in quality producers to focusing on the advisor experience, InvestmentNews’ 5-Star IBDs for 2024 are doing what it takes to succeed their way.
"Do these disclosure issues and conflicts at Wells Fargo also exist at peers," one industry executive asked.
"FiNet has made very noticeable increases in support staffing to practices," said one industry source.
The $6B IBD and RIA is expanding its partnership with new long-term agreements, including access to an integrated wealth management platform.
"I wanted it to end," said former senior GPB executive on Thursday.
The independent broker-dealer welcomes six new advisors who reported a total of nearly $600M in assets under administration between them.
The two advisors, including a 26-year industry veteran, are joining the broker-dealer as their practice undergoes a values-based refresh.
'Schwab makes ton of money on its cash, and more financial advisors means more cash,' one executive says.
'A huge pull is the massive amount of money that private equity firms are offering the owners of these OSJs,' says one industry executive.
May was a particularly tough month for nontraded REITs.
The pair are launching their own multigenerational practice in Mississippi with support from LPL.
"A broker admitting that he has been ripping off clients for 17 years is beyond troubling," said one attorney.
"Having relationships with financial advisors is one of the greatest assets these senior executives possess," said one industry official.
The pitcher-turned-wealth manager is part of a $380M advisor team in Delaware that’s joining LPL from PNC Investments.
