Meanwhile, Ameriprise has bolstered its own ranks as an LPL defector joins its branch channel in California.
Along with greater revenue, alternative investments also carry risks, one industry lawyer noted.
The banking giant is looking to sell its interest in the online brokerage giant amid the continuing fallout of its historic money-laundering settlement with federal regulators.
National Securities Corp. sued the advisor in 2020, alleging breach of contract and unjust enrichment.
The hybrid RIA is the latest firm to face allegations that it enriched itself at customers' expense by paying unfairly low interest rates in its cash sweep programs.
Installed after Dan Arnold's abrupt termination, the new leader at LPL Financial is highlighting the firm's refocusing on the individual advisor.
The clearing and custody giant is kicking the tires on new cash sweep plan with broker-dealer clients.
LPL Financial welcomes a $345 million investment and planning team from Ameriprise as RayJay's employee advisor arm adds a seasoned Well Fargo breakaway.
Cetera welcomes a veteran retirement advisory team while Commonwealth adds an independent-minded advisory in Manhattan.
The Virginia-based firm adds the team from The Investment Center as it hails a record year of growth and advisor additions.
“Bryant Riley’s strength is that he’s an amazing dealmaker and originator,” an industry executive said.
The broker-dealer giant is pressing on with its strategy to attract advisors as a Connecticut-based team joins its network.
FSI, IAA, CFP Board, and other voices have coalesced to help even the playing field on taxes for independent financial professionals.
Broker-dealers also optimistic that gains will be seen in current quarter.
An increasing proportion of alternatives, from fully liquid to illiquid, will be sold in the wealth management channel in the coming years, according to Fuse Research. Traditional asset managers are cranking out products, and PE firms are warming up to advisors.
The broker-dealer titan is expanding its footprint in the West Coast with a veteran-founded high-net-worth practice.
The investment advisory giant's latest collaboration expands its institutional platform with 69 financial advisors.
The PE-backed wealth platform is expanding across Colorado and Idaho while broker-dealer giant LPL welcomes a multigenerational advisor pair from UBS.
$150B firm welcomes back former CEO Tim Scheve to its board of managers.
The state's order is a step in negotiating a potential fine with the firm.
