His departure comes more than two months after AIG announced the sale of AIG Advisor Group to Lightyear Capital and PSP Investments.
The acquisition signals Stifel's interest in growing its wealth management business, though future deals depend on what's available — and at what price, according to CEO Ron Kruszewski.
The rule opens the door to future customer litigation and opportunity for regulators to impose sanctions or fines on smaller broker-dealers.
The rule is likely to unleash a wave of software upgrades and business relationships that will result in greater efficiencies for advisory firms.
The financial industry generally has not barked about the final fiduciary rule, but that doesn't mean that it won't eventually bite.
Revenue from commissions declined in the fourth quarter, as it has across the brokerage industry.
<i>InvestmentNews</i> senior columnist Bruce Kelly talks about the challenges facing indie B-Ds and what many firms are doing to survive.
Massachusetts securities division examining independent broker-dealers that sold RCS alternative investments such as nontraded REITs.
New business models, heavy compliance costs and figuring out 'reasonable' fees are among the items giving IBDs fits.
RCS Capital intends to make another round of bankruptcy filings that will include broker-dealer holding companies of its Cetera Financial Group firms.
Forty advisers from the Legend Equities Corp. are joining a firm that specializes in retirement plans for schools and other nonprofits.
U.K., Australia both passed fiduciary rules, though their versions weren't limited to retirement advice. How have they fared, and what can U.S. advisers learn from them? </br><b><i>(More: <a href="//www.investmentnews.com/section/fiduciary-focus"" target=""_blank"" rel="noopener noreferrer">Coverage of the DOL fiduciary rule from every angle</a>)</b></i>
Firm agreed to leave more than 40 senior staffers alone until September or until RCS Capital's bankruptcy plan becomes effective.
Final version includes a number of changes that address the most serious concerns of those who most vehemently criticized it.
Firms need to be proactive in conveying information to their advisers.
Answers to common sources of confusion or misunderstanding about the new regulation.
Scan of recent orders and reports from SEC, Finra shows the advice industry is already feeling the effects of fiduciary.
Three independent broker-dealers formerly operating under AIG's umbrella have been fined $7.5 million and ordered to pay restitution of $2 million to clients.
Wiser Financial Group joins broker-dealer formerly known as NFP Advisor Services.
