A deep recession and market meltdown didn't stop independent registered
investment advisors from experiencing growth since 2007-in terms of assets, market share and net-money flows.
Lloyd Blankfein's support of a fiduciary standard for retail brokers
now seems like nothing more than a bone thrown at financial reformers.
A proposed Finra rule change would mean brokers and brokerages couldn't plead poverty as an excuse to keep their securities licenses when they
don't make good on arbitration awards.
Ameriprise Financial Inc.'s Advice and Wealth
Management division reported a surge in pretax income to $51 million for
the first quarter of 2010, compared to a pretax loss a
year ago.
Wells Fargo may begin recruiting independent registered investment advisors.
One winner in the movement of brokers away from the traditional large
wirehouses and toward regional and independent firms has been
Ameriprise Financial.
A former Merrill Lynch broker accused of stealing a
$780,000 signing bonus highlights how little brokerages and other
investment firms may know about certain job candidates they're recruiting.
A former broker for Morgan Stanley & Co. must pay $1.6 million to
the firm in a case involving a signing bonus he received when he joined
in 2006.
by
Jeff Schlegel
Susan Merrill, FINRA's former head of enforcement, has landed a new job as a partner at the New
York office of the law firm Bingham McCutchen LLP.
Some industry experts say it would be profitable for the big brokerages to delve
into the breakaway movement.
Securities regulators' actions against Morgan Keegan & Co. put its
brokers in the same basic category as investors: duped.
A case against Ameriprise Financial Inc. over allegedly excessive
mutual-fund fees is being sent back to a federal appeals court by the
U.S...
by
Dorothy Hinchcliff
LPL Financial has recognized a California man as the advisor who has been affiliated with the firm longer than any other.
UBS AG's advisors see the recent announcement of nearly 200 layoffs as a
sign that things may be looking up.
by
Dorothy Hinchcliff
Morningstar launched a complete upgrade today of a research and
investment software platform used by about one in four advisors in the
United States.
Edward Jones plans to add more than 1,000 brokers in the U.S. and Canada
this year as it seeks to expand its presence in urban and coastal
areas.
Firms with multiple brokerage channels are seeing notable success in both recruiting and retaining U.S. advisors, analysts say.
The most vocal opposition to the push to make financial advisors more
responsible to clients hasn't come from Wall Street firms or giant
banks, but insurance
companies.
by
Jeff Schlegel
The Financial Industry Regulatory Authority on Thursday said it expelled
a broker-dealer for selling private placements linked to a Ponzi
scheme.
