Another independent broker-dealer has bitten the dust, this time apparently because of some private placement deals that went bust.
Finra has shuttered a small Texas broker-dealer for allegedly charging clients excessive markups on $1.3 million in securities transactions.
Raymond James Financial Services Inc. early this month fired a broker who held key financial positions in local Connecticut politics after discovering he was under investigation for misappropriating clients' funds.
United Equity Securities LLC filed with the Financial Industry Regulatory Authority Inc. on Aug. 12 to terminate its status as a broker-dealer.
Selling private placements has turned into a disaster for some independent broker-dealers.
Another small broker-dealer has been shut down, with this one owing $1.2 million in damages and legal fees imposed on it in a recent arbitration decision.
Steve Jones and Seth Gunderson have formed Tenacity Investment Group in Longmont, Colo.
If LPL decides to launch anytime soon — as of yet, no date has been set — it will be doing so smack dab in the middle of an incredibly difficult market for IPOs in general and financial services stocks in particular.
When HighTower Advisors LLC was launched in 2008, its pedigree and promise caught the industry's attention and the interest of a number of highly successful advisers.
Recruited from Charles Schwab Corp., Mr. Goldman will be leaving Fidelity after just one year.
The deal adds about 100 Ridge clients to Penson's base of 297 brokerage firms, making it the second largest correspondent clearing firm in the securities industry.
When it comes to controlling client assets, LPL Investment Holdings Inc.'s recent IPO registration offers clear proof that the remaining four wirehouse broker-dealers still dwarf the more diverse galaxy of independent broker-dealers.
LPL Investment Holdings Inc. today said it has sealed the deal with the executive who has overseen the company's growth and its march to an IPO.
Gitterman & Associates, a 10-person team in Georgia, has found a new home.
Private-equity firm Lightyear Capital LLC today announced that it has completed its acquisition of three ING Groep NV broker-dealers.
Another independent broker-dealer is shutting down — this time, so its parent company can refocus on its insurance business.
LPL Investment Holdings Inc. last week said that it has sealed the deal with the executive who has overseen the company's growth and its march to an IPO.
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.
