Broker-Dealers

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Why Annuities Belong In Clients' Retirement Income Plans

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Guaranteed income products hold a rightful place in many clients' retirement plans.

Former Indiana Advisor Gets 4 Years For Stealing $4.6M From Client

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Christopher Turean used his client's money to gamble on sports and pay off a home equity loan.

Reg BI Client Claims Double In 2023 As Finra Arbitrations Jump 12%

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One securities attorney said to expect more client complaints based on Reg BI standards.

Wells Fargo Team With $425M AUM Goes Independent

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Blue Ocean Investment Group of Westlake, Ohio, is joining the bank's independent arm.

Senators Urge DOL To Hurry And Finalize Fiduciary Rule

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The rule is needed to protect retirement savers from conflicted advice, Democratic lawmakers said.

Stifel Penalized $2 Million Over Unsuitable Investments

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The firm and its advisor subsidiary kept clients in short-term products for too long, Finra said.

70% Of Advisors Are Considering Changing Platforms

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But only 17% are actively evaluating and expect to make changes in 2025 or 2026.

Is Organic Growth Over In Wealth Management?

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Advisors can earn the business of other advisors' clients by helping them transition into retirement.

Finra Panel Rules Morgan Stanley Must Pay $3M To Ex-Brokers For Deferred Comp Claims

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A Finra panel found these ex-advisors' deferred compensation was protected by ERISA.

Rockefeller Adds Former JPMorgan Team With $966M AUM In Bay Area

by FA Staff

The six-member team had been with First Republic before its acquisition by JPMorgan last year.

Hightower Counters Ex-Advisor Lawsuit, Says He Stole Company Secrets, Misappropriated Funds

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Hightower says Lars Knudsen was violating his post-sale agreements and creating a hostile work environment.

Northwestern Mutual Penalized $8M For Alleged Wrongful Termination

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Three brokers who worked for the company in Abington, Pa., shared the Finra award.

DOL's New Fiduciary Rule Much Harder To Sidestep, Attorney Warns

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The agency is getting more strict about what it considers an investment recommendation, attorney Fred Reish says.

Hightower Hit With Another Lawsuit From Affiliated Advisor

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Telos Investment alleges Hightower breached its contract and poached its clients to inflate its potential sale price.

Fidelity's Abby Johnson Tightens Grip On Far-Flung Family Empire

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A decade into her reign, Johnson is reasserting control over the fund giant's London outpost. Heads are rolling.

Raymond James Names Shoukry President And Successor CEO To Paul Reilly

by FA Staff

Paul Shoukry, the firm's chief financial officer, will take the CEO reins from Paul Reilly in fiscal 2025.

SEC Fines 2 RIAs $400K Over False Boasts About AI Capabilities

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Delphia (USA) and Global Predictions agreed to pay $400,000 in penalties for the false claims, the agency said.

LPL Financial Sued For Raiding Advisory Firm

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A Kentucky firm said LPL, its former affiliate, tried to poach its advisors after a falling out.

UBS Has Better Business Mix Than Morgan Stanley, JPMorgan Says

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This Swiss bank is vying for primacy in global wealth management.

Diversity Should Still Be A Hiring Goal, Financial Execs Say

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A panel of financial industry professionals said advisors need to get out of their comfort zone when hiring.

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