Results for "broker-dealers"

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Two small broker-dealers are down — and out

October 10, 2019

Two small broker-dealers with different business models, one for retail reps and the other a wholesaler of alternative and real estate funds, are closing their doors. The former B-D, Taylor Capital Management, is potentially facing dozens if...

How free trading threatens the RIA business model

October 10, 2019

With Fidelity Investments jumping on board Thursday as the fourth major discount brokerage firm to eliminate commissions for most online trades, the new game for brokerages officially centers on net interest income, or so the firms are suggesting....

Bad news for advisers offering financial wellness programs

October 9, 2019

There's bad news for financial advisers offering financial wellness services to employers and their workers: Advisers are at a competitive disadvantage to other vendors, like 401(k) providers and health insurers. That largely stems from positioning...

SEC bars former Morgan Stanley broker involved in insider trading scheme

October 9, 2019

The Securities and Exchange Commission kicked out of the industry a former Morgan Stanley broker who participated in an insider-trading scheme. In an Oct. 8 order, the SEC barred Michael Siva from working for a brokerage, investment adviser...

Finra issues Regulation Best Interest checklist for brokers

October 8, 2019

Finra released guidance on Tuesday designed to help its member firms comply with new broker investment advice and disclosure requirements approved earlier this year by the Securities and Exchange Commission. The checklist posted on the website...

Working to get Reg BI implemented

October 8, 2019

We were very pleased when the SEC's new common standard of care for all advisers, Reg BI, was passed as a formal rule. While we approved of the rule's approach to protecting investors, improving disclosure and mitigating potential conflicts...

Riskalyze growing into much more than a risk assessment tool

October 7, 2019

Eight years ago, Riskalyze was created to provide a digital, mathematical approach to client risk assessment. In 2019, the technology startup is so much more than that. At its annual Fearless Investing Summit last week in Boston, Riskalyze introduced...

ARCP class action investors get 50 cents on the dollar: Attorneys

October 7, 2019

The $1 billion settlement last month between investors and the real estate investment trust formerly known as American Realty Capital Properties Inc. included an unusually large recovery for the claimants of close to fifty cents on the dollar,...

LPL reels in three teams from Advisor Group broker-dealers

October 3, 2019

LPL Financial is starting the final quarter of the year with a recruiting bang, having recently snagging three teams with close to $1.5 billion in client assets from rival Advisor Group broker-dealers. Earlier this week, Financial Solutions...

Schwab's next target? Financial advisers

October 3, 2019

There's a showdown looming between financial advisers and the custodians that safeguard their clients' money. It's been brewing for some time, and the move by Charles Schwab Corp. on Tuesday to offer commission-free trading makes the clash all...

We'll just keep the wolf; hold the sheep's clothing

October 3, 2019

A recent InvestmentNews editorial stated that "[w]hile Reg BI falls short of making sure brokers put their clients' interests first, it is far better than the status quo and should be allowed to move forward." It's this "well, it's better than...

Mixing fiduciary and nonfiduciary standards can be counterproductive

October 3, 2019

In the wake of finalizing the Regulation Best Interest regulatory package, the SEC issued a series of informational videos for investors that purport to explain the differences between brokerage and advisory services. As is true of the regulatory...

Finra approves plan for specialized arbitrators to decide broker expungements

October 3, 2019

The Finra board has advanced proposals to reform the process by which brokers can clear their record of customer disputes and to curb the ability of brokers to become the beneficiary or executor of a customer's will. The Financial Industry Regulatory...

ETrade hints at commission cuts on social media

October 2, 2019

In the wake of Tuesday's news that both Charles Schwab Corp. and TD Ameritrade Holding Corp. are eliminating brokerage commissions for U.S. stocks, ETFs and options, ETrade Financial Corp. has become a target of inquiry on social media. Viewed...

ETrade follows Schwab, TD, and cuts commissions to zero

October 2, 2019

Jumping on this week's brokerage industry trend, ETrade Financial Corp. has announced plans to eliminate online trading commissions for U.S. stocks, exchange-traded funds and options starting Monday. The announcement after the stock market closed...

Number of brokerages, reps registered with Finra falls again

October 2, 2019

The number of brokerage firms and their representatives regulated by Finra fell again last year, but industry revenues and income increased. The second annual Finra Industry Snapshot shows that the number of Finra-registered representatives...

Traders punish Schwab, TD, ETrade for move away from commissions

October 1, 2019

While investors and financial advisers using the Charles Schwab brokerage platform might be celebrating Tuesday's announcement of commission-free trading, the stock market had a different take on the news. Schwab, which expects to lose about...

TD Ameritrade fires back at Schwab by cutting commissions to zero

October 1, 2019

Just 10 hours after Charles Schwab announced it was eliminating trading commissions on U.S. stocks, exchange traded funds and options starting Oct. 7, rival TD Ameritrade Holding Corp. upped the ante by cutting the same commissions starting...

Schwab cuts online brokerage fees to zero

October 1, 2019

Charles Schwab & Co. pushed the fee war to the next level Tuesday morning by announcing that it will eliminate commissions for online trading of U.S. stocks, exchange-traded funds and options starting next Monday. The brokerage platform currently...

Hybrid broker managing $130 million switches to LPL from Amerprise

October 1, 2019

Joshua Lambert, who managed $130 million as a hybrid broker at Amerprise Financial in Mount Vernon, Ohio, has affiliated with LPL Financial's broker-dealer and corporate registered investment adviser platforms. [More:​ See more adviser moves...

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