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LPL reports record recruiting year
Indie B-D recruited $27.3 billion in brokerage and advisory assets in 2018, at the same time the firm was experiencing big shake-ups in its operations.
Wells Fargo to pay states $575 million over sales practices
The settlement with 50 states and the District of Columbia announced Friday resolves state investigations into Wells Fargo's practices from 2002 to 2017.
Finra fines Morgan Stanley $10 million for lapses in anti-money laundering program
Finra's findings were largely surrounding legacy Morgan Stanley Smith Barney systems, staffing and processes relating to the surveillance of wire transfers, and the deposit and sale of low priced securities.
Finra sues Ami Forte, one-time Morgan Stanley superstar broker
Finra suit charges Forte with churning the account of an elderly, mentally incompetent client
Will LPL’s new emphasis on recruiting from wirehouses pay off?
Recent moves at LPL Financial make it clear that the firm will target more brokers who now work at wirehouses.
UBS sues Ohio National over lost variable annuity commissions
Wirehouse joins handful of other firms seeking to prevent insurer from cutting off flow of adviser trails.
UBS hit with $15 million in fines, penalties for AML problems
Securities and banking regulators are continuing to focus on anti-money laundering procedures and policies.
Regional broker-dealers quietly making comeback now, but the future remains uncertain
After a period of decline, the regional brokerage industry is scoring recruiting gains at the expense of wirehouses.
Finra fines Merrill $300,000 for failing to supervise rogue broker
The ghost of Eva Weinberg's actions continue to haunt the wirehouse
Wells Fargo Advisors 2019 comp plan sees little change
But lowest-producing advisers face a pinch in pay.
Despite broker protocol mess, advisers still thinking about leaving Wall Street: Schwab study
Just 16% of advisers surveyed see the withdrawals from the broker protocol slowing adviser moves.
UBS names new head of US wealth unit, seeks to capture more American billionaires
Jason Chandler will take over from Brian Hull on January 1, overseeing about 7,000 advisers.
Wells Fargo says it’s cleaning up its mess. Regulators demand more
Federal Reserve reportedly rejected parts of the bank's turnaround plan.
UBS buckles under uproar from brokers over non-solicit agreements
The firm's shift in policy this week puts spotlight on the fight over who controls the client.
Are you serious, Wall Street? A response to the #MeToo 'advice’ of men
Men worried about #MeToo repercussions should consider whether their after-hour activities and jokes are appropriate.
UBS Global Wealth Management will give ESG scores to funds
Assets under management with environmental, social and governance strategies have grown 44% over two years in the U.S.
Large broker-dealers expand how they work with small 401(k) plans
UBS, Morgan Stanley, Raymond James, LPL and Merrill Lynch are among the B-Ds giving retirement plan advisers more ways to offer fiduciary investment services to 401(k) plans.
Independent broker-dealers fastest-growing brokerage group
IBDs registered a five-year compound annual growth rate in assets of 11%, almost double that of wirehouses, Cerulli reports.
Independent Perspective: Why Reza Zamani Chose Independence
Learn how and why one advisor decided to make the move to independence, and how his business fared.
Morgan Stanley launches new adviser technology dashboard
WealthDesk integrates Morgan Stanley's new suite of technology in a single location.
