Industry

Raymond James had scored the big team in May, before Securian's sale of its retail wealth business to Cetera closed.

The planned sale marks another step for the Wall Street giant away from previous plans to work more with retail customers.

The company is paying $75 million in penalties and restitution in connection with SEC allegations that its investment advisory arm overcharged customers it inherited in its Wachovia acquisition in 2008. The settlement is said to show the importance of conducting extensive compliance checks in a rapidly consolidating industry.

Mario Rivero pleaded guilty in February to swindling five clients out of more than $600,000.

The federal regulator reopens the comment period for its rule on safeguarding client assets in response to its new auditing requirement for private funds.

World Insurance's Pensionmark unveiled a giant deal following the insurer's private equity agreement for $1 billion in financing at a valuation of $3.4 billion.

Commissioner Hester Peirce warns an unintended consequence of the new regulation could be less thorough internal compliance reviews.

The firm follows its major move to the Midwest by expanding its executive leadership team.

The third time was the charm for LPL, which failed twice to win the big team it finally recruited this month. Here's what worked this time around.

A brokerage client's portfolio was gradually invested almost exclusively in the fund manager WisdomTree over a decade.