Broker-Dealers

Schwab Says NY AG Fraud Charges Are Unfair

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Charles Schwab & Co. Inc. says allegations by New York Attorney General Andrew Cuomo that its brokers improperly sold and marketed auction-rate securities are without merit and are unfair.

SEC: Ameriprise Reaped $30.8M In Secret Incentives

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Ameriprise Financial has settled charges that it received millions of dollars in undisclosed incentive payments to sell certain REITs to its brokerage customers, according to the SEC. 

Money In Motion

by Jeff Schlegel

The economic crisis has wreaked havoc on wirehouses, and more advisors are looking for new opportunities.

Advisor Emporium

Genworth Enhances Investment Management Platform Genworth Financial Wealth Management is enhancing its investment management platform to help advisors through the current...

Former COO In Arbitration With Investacorp

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A broker-dealer's former chief operating officer is seeking $5 million in compensation for work he says he did for the subsidiary and for breach of contract. 

RIAs Hard To Police; Expect FINRA To Step In

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A report released Monday by TowerGroup predicts FINRA audits of registered investment advisors, which in turn would mean higher compliance costs for RIA firms.

Crisis Intervention

by David J. Drucker

B-Ds unveil new programs to help advisors survive the recession.

Advisor Emporium

Fidelity Benchmarks Technology Use Fidelity Investments is launching a Technology Benchmark Evaluator to help registered investment advisors benchmark their use and...

LPL Seeing Explosive Recruiting Growth

The turbulence sweeping the financial services industry is triggering explosive recruiting growth at LPL Financial.

Advisor Emporium

Tool Combines Outlook With Planning AdviceAmerica, based in Fremont, Calif...

Fiduciary Fracas

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Let the food fight begin...

RJF Names New President, CEO

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Raymond James Financial (RJF) has named Paul Reilly, currently executive chairman of Korn/Ferry ...

Brewer Financial Adds Ameriprise Advisors

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Brewer Financial Services on Wednesday said it added four Ameriprise financial advisors...

Securian Completes Capital Financial/H. Beck Purchase

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Securian Financial Group on Monday said it ...

Citigroup To Cut 53,000 Jobs

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Citigroup Inc. said Monday it will slash about 53,000 jobs in an effort to reduce costs...

Citigroup Fined $300G For Lax Broker Trading

The Financial Industry Regulatory Authority said today it fined Citigroup Global Markets $300,000 for not properly...

War Breaks Out For Wirehouse Brokers

by Gail Liberman

The fee-based/fee-only RIA models are the practices of choice for high-end advisors with an entrepreneurial spirit.

Disclose, Baby, Disclose

by Raymond Fazzi

Compliance issues can be a challenge for someone switching from a wirehouse to an independent advisor platform.

Advisor Emporium

Genworth Creates Wealth Management Division Genworth Financial Inc...