Growth in the ranks of independent broker-dealers is a trend that could
strain one aspect of compliance in some offices: broker supervision.
by
Ray Fazzi
At an age where many would step into a life of retirement, two seasoned veterans decided to have a go at starting an independent RIA.
New data shows more advisors are leaving the large traditional brokerages to go independent
rather than to go to other big shops.
by
Dorothy Hinchcliff
The Financial Planning Coalition is pushing for a law that would
require anyone calling themselves a financial planner to be SEC registered and meet certain
ethical and educational standards.
Charles Schwab & Co. Inc. must pay nearly $1.8
million-including $1.5 million in punitive damages-to a former
employee, according to a securities arbitration award.
by
Ray Fazzi
First Allied Securities Inc. has agreed to pay $1.95 million to
settle charges that it failed to supervise a broker who allegedly
engaged in fraudulent trading.
The Department of Labor's push to expand the availability of objective
investment advice will likely shake things up for brokers who advise
clients on individual retirement accounts.
by Richard Heitman
Small business owners remain caught in a credit squeeze. Here's how advisors may be able to be able to help such clients.
Morgan Stanley's suit against employees who left to join HighTower Advisors and its regulatory complaint against the firm are being called a power play to make brokers think twice about leaving.
by
Evan Simonoff
LPL Financial reported today that its net income for 2009 rose 4.4% to $47.5 million, up from $45.5 million in 2008.
Concerns about the possible reclassification of certain registered
representatives as employees have reignited in the wake of President Barack Obama's proposed 2011
budget.
The steady, if sometimes exaggerated, trend of wirehouse advisors
shifting to independent brokerages is proving to be more than just a
passing fad, according to recent industry statistics.
Five independent financial advisory firms announced they have affiliated with Fusion
Advisor Network and National Financial Partners Securities Inc.
by Bruce W. Fraser
Alternative investments increasingly are playing an important role in
asset allocation strategies in investors' portfolios, according to a
new Rydex/SGI survey of RIAs and broker-dealers.
Managing risk and government regulations were the hot topics in the halls of the recent TD Ameritrade Institutional conference in Orlando, Fla.
Merrill Lynch is ramping up its talent pipeline with plans to add hundreds of new brokers amid efforts to boost its overall broker headcount.
Wells Fargo & Co. is sticking with the unique transparency of
Wachovia Securities' payout grid for the nearly 12,000 brokers who now
make up Wells Fargo Advisors.
A securities arbitration panel has ordered Raymond James Associates
Inc. to pay $12.1 million to Wells Fargo Advisors LLC for alleged
raiding.
Some former Lehman Brothers brokers are getting caught in the tide of
arbitration cases involving principal-protected notes issued by their
parent company.
