If the industry was really serious about getting rid of rogue brokers, it would do more both individually and through Finra.
In the wake of Raymond James' $17M fine, it's time advisers take regulators' focus on this issue seriously, as rules are only going to get stricter.
The Jenkintown, Pa., based unit collected about $7 million in annual fees and commissions under its former employer
Many advisers dissatisfied with their current broker-dealer and anxious about how well they are positioned in a post-DOL landscape are still hesitant to make a move.
Claims institutional investors are committed to the independent broker-dealer business.
State claims former broker overloaded his clients with energy stocks.
The four large brokerages have emerged among the least affected by the heaviest regulation to hit the financial advice market in decades. <i><b>(More: <a href="//www.investmentnews.com/section/fiduciary-focus"" target=""_blank"" rel="noopener">The DOL fiduciary rule covered from every angle</a>)</b></i>
In the new DOL fiduciary landscape, B-Ds can no longer be dependent on commissions.
Agency concerned about brokers who sell out client positions at old firm to generate commissions at new firm. <b><i>(More: <a href="http://www.investmentnews.com/section/fiduciary-focus" target="_blank">The fiduciary rule covered from every angle</a>)</b></i>
Empire Asset Management Group joins up even as the firm's parent company faces bankruptcy. Cetera CEO Larry Roth: "Choosing Cetera reflects the strength of our value proposition."
Nation's largest independent broker-dealer faces an ugly lawsuit, high turnover and stalled growth. And that's just for starters. </br><b><i>(Related read: <a href="http://www.investmentnews.com/article/20160403/FREE/304039998/the-lpl-stock-buyback-that-launched-a-lawsuit" target="_blank">The stock buyback that launched a lawsuit</a>)</b></i>
Incentives for eligible advisers are from 2% to 11% of their total annual revenue.
Chairman and CEO Mark Casady downplays the timing and execution of 4.3 million share buyback
His departure comes more than two months after AIG announced the sale of AIG Advisor Group to Lightyear Capital and PSP Investments.
The acquisition signals Stifel's interest in growing its wealth management business, though future deals depend on what's available &mdash; and at what price, according to CEO Ron Kruszewski.
The rule opens the door to future customer litigation and opportunity for regulators to impose sanctions or fines on smaller broker-dealers.
The rule is likely to unleash a wave of software upgrades and business relationships that will result in greater efficiencies for advisory firms.
The financial industry generally has not barked about the final fiduciary rule, but that doesn't mean that it won't eventually bite.
Revenue from commissions declined in the fourth quarter, as it has across the brokerage industry.
<i>InvestmentNews</i> senior columnist Bruce Kelly talks about the challenges facing indie B-Ds and what many firms are doing to survive.
