In a move that could have a serious impact on the advice business, Finra is considering giving private vendors access to the regulator's data on licensing and disciplinary actions.
Desperate to reel in star brokers, the wirehouses are fishing more than ever in the unlikely and foreign waters of independent-contractor broker-dealers to hook their top representatives
Reilly says he preferred internal growth but was swayed by similarity in culture between two firms
Pace of shutdowns is slowing, but one in 10 firms open in 2007 are now gone
After incurring a 'signficant loss' in 2011, Finra plans to raise a number of user fees. How big a hit will B-Ds take? The hikes will range anywhere from 5% to 50%.
Although 2011 offered its share of challenges, independent broker-dealers were still able to rack up solid gains.
For independent broker-dealers, 2011 was a challenge. Mounting technology costs, intense scrutiny and new rules from securities regulators were compounded by record low interest rates, which decimated returns on once-lucrative activities such as margin lending and holding clients' cash.
LPL's special dividend will be payable May 25 and will be followed by a regular quarterly dividend starting at 12 cents per share.
A financial adviser has inserted himself into the tension between the Occupy Wall Street protesters and The Goldman Sachs Group Inc. over sponsorship of a fundraising dinner next month for a New York-based credit union that mainly serves the poor.
The Charles Schwab Corp. has opened its newest franchised branch office, this one in Windermere, Fla., near Orlando.
Elderly couple awarded $1.4M for claim over tenant-in-common exchanges; were seeking $8M
Company sold $900 million of stock and its Morgan Keegan brokerage for about $1.2 billion to help repay the bailout
Independent Financial Partners aims to push recruitment this year — and add $30 million in GDC
Hiring expenses rose as indie B-D attracted 408 net new advisers in past year; 'elevating our expectation'
