Five-person group joins employee unit in Williamsport, Pa.
The transaction comes as industry executives and consultants expect more consolidation in the IBD industry.
Mr. Putnam was a key architect in the early days of the firm, overseeing its tremendous growth.
More than 20 claimants initially sought $8.8 million in damages and costs after a Morgan Keegan adviser allegedly misappropriated their funds.
While private equity could become a positive force in the retail alternatives space, not all sponsors are created equal.
For many advisers, whether to charge on cash depends on how much time they are spending managing those assets. .
Even with Finra's extra attention, countless numbers of rogue brokers are still employed in the securities industry.
Charges by Massachusetts' top regulator relate to the former top-producing adviser Roger Zullo, who allegedly committed fraud in selling variable annuities to retirees.
The plaintiff's bar is licking its chops, looking for a new class to represent
The firm also addressed the recent departures of groups managing about $2 billion in brokerage assets — including star adviser Ron Carson — on its earnings call.
Carson ends a 28-year relationship by moving his firm from LPL to Cetera.
A looming fiduciary rule, combined with regulations limiting product sales, have experts predicting more consolidation is inevitable
After a tough first month on the job, Dan Arnold will need to be in "damage control mode" as he faces analysts and investors for the first time, according to an industry recruiter.
DOL rule could prompt some advisers to move ahead of time — and others to stay put until they gauge rule's impact.
Firm's 7,100 advisers to gain digital investment advice platform and advanced analytics about clients
The firm is an employee-owned, independent partnership associated with Raymond James, and has found success with its collegial 'no-jerk policy' for those who'd like to join.
Differentiating themselves from brokers would be easier now that debate has raised investor awareness of the role of a fiduciary
Move is among a series of changes the firm is making as it gets ready for deadline on implementing DOL fiduciary rule.
