Wirehouse Movement Slows in October
Brokers are switching firms at a slower pace, and the largest number still go to another wirehouse firm rather than a new advisory channel, according to the Discovery...
Tag: Broker/Dealer
ING Sells Three B/Ds, Keeps Retirement-Focused B/Ds
ING has reached an agreement to sell three of its U.S. independent retail broker/dealer units—which make up three-quarters of the ING Advisors Network—to Lightyear Capital LLC.
Raymond James Ups AUM Requirement for New RIAs
In an effort to attract higher-level advisers, Raymond James Financial Services’ Investment Advisors Division increased the minimum level of assets under management required for new affiliations with registered...
LPL Will Pay Victims of Montana Broker’s Ponzi Scheme
LPL Financial Corporation (LPL) has agreed to pay nearly $1.3 million in restitution to Montana investors in a Ponzi scheme run by an independent broker.
FINRA Forms Social Networking Task Force
Rick Ketchum, chairman and CEO of the Financial Industry Regulatory Authority (FINRA), said the agency has formed a task force to examine how regulation can welcome new forms...
McCann in to Head UBS Wealth Management
Now that his dispute with Bank of America (BofA) is behind him, Robert McCann will now step in as CEO of Wealth Management Americas at UBS.
BofA Surrenders Legal Documents about Merrill Deal
After months of fighting with regulators, Bank of America (BofA) is turning over documents about its purchase of Merrill Lynch, according to news reports.
J.P. Morgan Launches B/D Lock Solution for DR Activity
J.P. Morgan’s Depositary Receipts (DR) Group announced the launch of its Issuance & Cancellation (I&C) Lock, a solution allowing broker/dealer clients to purchase a contract that establishes a...
J.P. Morgan B/D Offers FundQuest Managed Account Platform
Financial advisers who custody with J.P. Morgan will now have access to a new managed account platform from FundQuest Incorporated.
Krawcheck Wants to Keep the Bull; Plans to Re-Launch Merrill Brand
Bank of America (BofA) said it is re-launching the Merrill Lynch brand with a new marketing campaign.
The Wiley Group is Now Independent RIA
The Wiley Group ended a long relationship with Morgan Stanley Smith Barney to form a fully independent registered investment adviser.
PANC 2009: UBS, MSSB Retirement Heads Make Case for Wirehouse
Wirehouses can bring scale and product innovation to the retirement plan adviser—and pay the electricity bill for you, noted Ed O’Connor, managing director at UBS Financial Services.
PANC 2009: Why Independence Fits the Retirement Plan Adviser
At the PLANADVISER National Conference, a panel of big names in the independent advisory space discussed why independence might be a good choice for retirement plan advisers.
BofA Brings in New Heads for Retirement, Wealth Management
Bank of America (BofA) brought in Andrew Sieg to head its retirement group and appointed Keith Banks and John Theil to lead Private Wealth Management.
PANC 2009: Finding the Right Business Model
It’s often said that freedom comes with a price, and for some financial advisers, the price is worth it.
SEC Plans Deeper Probe of BofA-Merrill Merger
Federal securities regulators said they will take the opportunity of pre-trial fact-finding in their existing case against the Bank of America (BofA) to see if any additional charges...
TD AMERITRADE Offers Tool for Advisers Considering Independence
TD AMERITRADE Institutional launched a transition tool for breakaway brokers.
Edward Jones Partners with John Hancock
John Hancock Retirement Plan Services has announced a distribution partnership with the financial services firm Edward Jones.
LPL Partners with Guardian for Retirement Plus Program
The Guardian Life Insurance Company of America said it was selected to provide retirement products through LPL Financial Corporation’s Retirement Plus Program.