Broker-Dealers

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Raymond James Wants More Financial Advisors

Raymond James Financial Inc.'s private client group has less than a 3% share of registered investment advisor assets, and sees tremendous opportunity for growth there.

HD Vest Sees Room For Growth In Boomer Market

H.D. Vest Financial continues to add hundreds of new advisors each year and sees plenty of room for growth as a business linked to that of tax and accounting specialists, thanks to boomers.

Tall Task

by Evan Simonoff And Eric Rasmussen

Building an in-house business consulting group, Derek Bruton is trying to help advisors at LPL adapt to the Darwinian business climate.

Who's Your Market?

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Some broker-dealers have niches that set them apart.

A Creditor's Feast

by Riva D. Atlas

Investors who snatched up distressed debt made big money in 2009. Some opportunities remain.

Other Advisory Firm Employees May Be Scrutinized By Finra

FInra is seeking to expand its oversight of securities professionals to back-office workers who provide sales and trading support and handle investor assets.

Finra Panel Slaps Ameriprise With Sanctions, Legal Fees

A securities arbitration panel has ordered Ameriprise Financial Services Inc. to pay nearly $470,000 to an investor, including sanctions and legal fees.

Janney Raises Bar For Its Financial Advisors

Janney Montgomery Scott's quest for quality over quantity gives it a focus to hire new advisors who are outperforming its existing broker base.

Independents Make Headway Despite Downturn

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.

Frontline News

Frontline News

Blankfein's Hollow Fiduciary Support

Lloyd Blankfein's support of a fiduciary standard for retail brokers now seems like nothing more than a bone thrown at financial reformers.

Cracking Down On Arbitration-Award Evaders

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's Financial Advisor Unit Drives Strong First Quarter

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 To Pursue RIAs

Wells Fargo may begin recruiting independent registered investment advisors.

Ameriprise Feeds Off Breakaway Trend

One winner in the movement of brokers away from the traditional large wirehouses and toward regional and independent firms has been Ameriprise Financial.

Alleged Bonus Theft Shows Firms' Hiring Soft Spot

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.

Former Morgan Stanley Broker Must Pay $1.6M In Bonus Case

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.

FINRA's Ex-Enforcement Chief Joins Law Firm

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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.

Wirehouses May Want To Tap Indie Trend

Some industry experts say it would be profitable for the big brokerages to delve into the breakaway movement.

Finra Blames Morgan Keegan, Not Brokers, For Hiding Risk

Securities regulators' actions against Morgan Keegan & Co. put its brokers in the same basic category as investors: duped.

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