Broker-Dealers - FA Magazine

Broker-Dealers

BofA Advisors Move To Merrill Lynch Platform

Thursday, 26 August 2010
Bank of America Corp.'s legacy financial advisors are making the transition to Merrill Lynch's more expansive brokerage platform.

FINRA Proposal Could Curtail Use Of Certain Custodians

Wednesday, 11 August 2010
A FINRA proposal could prohibit brokerages from using financial institutions as custodians if they aren't registered with the regulator and don't promptly verify customer assets.

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Auction-Rate Case Is Lesson In Liquidity For Advisors

Friday, 06 August 2010
An $81 million ruling against UBS AG's brokerage provides an indirect message for all advisors to heed in terms of safeguarding client liquidity.

ETFs Shunned By Many 401(k) Plans

Wednesday, 04 August 2010
The investing world's current darlings, ETFs, get no love from 401(k) plans. Many advisors say the problem is simple: ETFs just aren't a good match for 401(k)s.

UBS Must Pay Investor $81 Mln In Auction Rate Case

Wednesday, 04 August 2010
UBS Financial Services Inc. must pay nearly $81 million to an investor, Kajeet Inc., for damages related to auction rate securities, according to a recent ruling.

SEC's Plain-English Rule Will Cost Advisors

Wednesday, 04 August 2010
The SEC wants registered investment advisors to describe themselves to clients and prospects in plain English, something likely to require significant time and money.

Morgan Stanley’s Brokerage’s Biggest Asset Is An Obstacle

Tuesday, 03 August 2010
Morgan Stanley's plan to boost profit at Wall Street's biggest brokerage firm has one major obstacle: retail investors.

Affluent Investors Feel Unprepared For Life Emergencies

Wednesday, 28 July 2010
Financial advisors should take a look at clients' liquidity and borrowing power, now that the financial crisis has investors more wary, a Merrill Lynch study found.

UBS's U.S. Brokerage Nears Turning Point With McCann

Wednesday, 28 July 2010
UBS Wealth Management Americas is beginning to see some improvement under the new direction of Robert McCann, even as it still struggles with financial advisor departures and client asset outflows.

Tell The SEC What You Think On Fiduciary Standards

Tuesday, 27 July 2010
The SEC today posted a form for people to comment as part of its study of obligations and standards that should apply to broker-dealers and registered investment advisors.

Securities America Names Nagengast CEO

Tuesday, 27 July 2010
Securities America, a Nebraska-based broker-dealer with 1,900 independent financial advisors, has named its president, Jim Nagengast, as chief executive officer.

Raymond James Ordered To Buy Back $2.5M in Auction-Rates

Tuesday, 27 July 2010
An arbitration panel ordered two units of Raymond James Financial Inc. (RJF) to buy back $2.5 million in auction rate securities from an investor.

Advisors Win $2 Million Award From NRP

Monday, 26 July 2010
Two financial advisors won $2 million in arbitration from a retirement-plan advisory firm they left Merrill Lynch to join in 2008, only to be let go the following year.

Concerns Raised About FINRA Proposals On Arbitration

Friday, 23 July 2010
FINRA is taking another crack at the touchy question of how much financial information investors and brokerages have to exchange when a dispute goes into arbitration.

TD Ameritrade Sees Influx Of Breakaway Brokers

Wednesday, 21 July 2010
TD Ameritrade Institutional announced Wednesday that 212 breakaway brokers have joined its network during the first three quarters of its fiscal year 2010.

Things Looking Up At Bank Of America, Merrill Lynch

Tuesday, 20 July 2010
Bank of America's wealth management unit, which includes Merrill Lynch, generated more fees and brokerage income in the second quarter than it has since the first quarter of 2009.

FINRA Panel Fines J.P. Morgan For Not Turning Over E-Mail

Monday, 19 July 2010
A securities arbitration panel ordered J.P. Morgan Securities to pay a customer more than $2 million, including sanctions, for allegedly failing to adequately respond to the customer's requests for certain documents.

Advisors Gear Up To Shape Financial Overhaul

Monday, 19 July 2010
Broker-dealers and financial advisors say they're satisfied for the most part with the overhaul bill passed by the Senate and are now gearing up to help shape the changes.

Boomerang Brokers Return To Big Firms

Thursday, 15 July 2010
The allure of independence is fading for some financial advisors who strayed from big brokerage firms to strike out on their own.

LPL To Acquire National Retirement Partners

Wednesday, 14 July 2010
LPL Financial Corporation has reached an agreement to buy National Retirement Partners Inc. (NRP), a national network of more than 150 advisor member firms, the companies announced today.


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