Dan is a business journalist who previously worked for various local newspapers and industry publications. He also worked for two years in Beijing as an editor at China Daily. A graduate of the University of Missouri-Columbia, he has written about banking, local governments and the legal profession, among other subjects. He now covers how politics, policy and regulation affect the financial planning industry.
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Roughly 200 advisors at the firm are being named "founder specialists" for their track record helping entrepreneurs do everything from set up employee-benefit plans to take their firms public.
June 23 -
Also this week, Raymond James pulls from Ameriprise, UBS from Morgan Stanley and LPL from RBC.
June 20 -
Jamie Price of Osaic says attrition at his firm was below expectations during its recent internal consolidation of nine separate brokerages and that not having a self-clearing and self-custody business is an advantage these days.
June 18 -
George "Keith" Demetriades was accused of violating nonsolicitation clauses and misappropriating trade secrets after leaving for an RIA in 2023.
June 17 -
The deal marks the purchase of one private equity-owned firm by a much larger one with majority private equity backing.
June 17 -
Now at Wells Fargo, Matthew McCrea is accused of violating a nonsolicitation agreement he signed at JPMorgan. The suit echoes allegations JPMorgan made days earlier against a broker now at Morgan Stanley.
June 16 -
The industry watchdog is walking away from more than a dozen regulatory reforms that had drawn staunch opposition from advisors and industry groups.
June 13 -
RBC Wealth goes to UBS again to pull over advisors with large AUM tallies; Carson Group buys a firm in Colorado, and Goldman Sachs alumni set up an RIA through Dynasty Financial.
June 13 -
An advisory panel has recommended changes that would bring arbitration rules for RIAs into line with those now governing FINRA proceedings for broker-dealers. The proposal still has to get through the SEC.
June 12 -
Amid a broad deregulatory push, industry watchdogs are seeking to lower barriers that now limit many alternative investment products to so-called accredited investors.
June 11 -
Ted Pick and Paul Shoukry both see advantages in their firms' ability to invest in technology, offer banking services and provide access to alternative investments.
June 10 -
State regulators accused LPL Financial, Edward Jones, Stifel, RBC and TD Ameritrade of charging their clients unreasonably high and unfair commissions on 1.12 million equity trades over a five-year period.
June 10 -
Industry experts say there's theoretically no reason why firms can't keep getting bigger through recruiting deals. But a lack of good M&A prospects could make growth harder for LPL and other independent broker-dealers.
June 10 -
Laura Sullivan stands accused of accessing confidential customer data and violating a nonsolicitation agreement by bringing along at least 15 client households.
June 9 -
LPL Financial also pulls an advisory team from RBC, and Cetera hires a chief fiduciary officer for its trust subsidiary.
June 6 -
Retired investor Tracy Driver alleges he was encouraged to put millions into a now delisted media company and then lost more through unauthorized sales of "prized" shares in Nvidia, Microsoft and Alphabet.
June 5 -
Randy Anderson worked as a broker for nearly 25 years without a complaint before being accused of making unauthorized trades by a client who, his lawyer says, actually ended up saving money.
June 5 -
Investor advocates and others worry that recent changes to who can serve on FINRA panels will exclude arbitrators most likely to be sympathetic to ordinary investors.
June 4 -
Brian Mora, senior vice president of experienced advisor recruiting, thinks Ameriprise has the antidote to the high dropout rates seen in most industry training programs.
June 3 -
UBS continues to lose larger advisory teams after making changes to compensation policies last year. Meanwhile, Ashton Thomas and LPL both score advisory teams.
May 30
