A pair of Nebraska investors have filed a class-action lawsuit against LPL Financial, saying that one of the company's brokers misled them about the costs and benefits of annuities.
Earlier this week, Massachusetts Secretary of the Commonwealth William Galvin sent subpoenas to six firms, requesting info on high-risk offerings. Execs at several of the firms still aren't exactly sure why they were contacted
A former executive at Raymond James & Associates Inc. sued the company for $6 million, claiming he was fired after falling asleep as a result of chemotherapy.
Plying a path that sometimes has proven perilous, DeWaay Financial is staking its claim in the marketplace by offering financial advisers and their wealthy clients access to high-stakes private-equity, venture-capital and investment-banking deals.
Despite all the hoopla about breakaway brokers, most of the wirehouse representatives going to independent broker-dealers are relatively low producers who fit the B-Ds' packaged-product and fee-based model.
Big brokerage firms appear to have taken a break from their costly musical-chairs game of broker recruitment, according to executives and headhunters.
Upstart independent broker-dealer DeWaay Financial Network LLC has landed another top independent registered rep.
In a huge blow to SagePoint Financial Inc., one of three broker-dealers that make up the AIG Advisor Group Inc., its largest group of reps and advisers is walking out the door following a bitter dispute over group's role and future at SagePoint.
An often overlooked, but valued industry measurement.
The indie B-D industry took a giant step backward last year, with the largest 25 firms collectively reporting a 10.3% drop in gross revenue. <a href= http://www.investmentnews.com/apps/pbcs.dll/section?category=specialreporttemplate&issuedate=20100423&sid=BD0426> View the exclusive IN special report</a>
Check out the latest top ten list based on IN's new independent broker-dealer rankings
Regional brokerage firms and some independent investment advisers have been making hay hiring hundreds of discontented wirehouse brokers.
InvestmentNews has now released its latest independent broker-dealer rankings, which can be viewed here. Below are two lists on the average payouts at the largest independent broker-dealers, based on information that InvestmentNews has gathered directly from the firms that have participated in the annual survey.
RBC Wealth Management continues to add financial advisers from competing brokerages and has now recruited a two-person team from Stifel Nicolaus, a subsidiary of Stifel Financial Corp.
The broker-dealer has fired back at a state regulator with some stinging accusations of ignorance.
<i>The following is a letter from John Sykes, the largest single shareholder in defunct broker-dealer GunnAllen Financial, in response to this question posed by InvestmentNews news editor Bruce Kelly late last month: “What happened at GunnAllen?”</i>
Robert W. Baird & Co. Inc. has made another addition to its wealth management business, this time snatching a $150 million adviser team from Morgan Stanley Smith Barney LLC.
Firm to be acquired by socially conscious investing shop; combined broker-dealers in top 30 of independent B-Ds
