Industry

With new regulations on the horizon, a top FINRA official highlights the agency's efforts to establish a more flexible oversight regime that will be less of a drain on a practice's resources.

Once obscure, business development corporations, small business investment funds, are attracting attention.

Stifel Nicolaus & Co. has added a former Morgan Stanley advisor who managed more than $250 million in assets.

Jason Stamm will lead a team of more than 350 investment, trust, private banking and financial planning professionals. He succeeds Mike Ott, who was recently named president of the business nationwide.

By snapping up a series of independent B-Ds in quick succession. the RCS Capital executive chairman has instantly made himself an industry player. He talks to Financial Planning about his plans.

Two former Wells Fargo Advisors who managed $400 million have left to join a firm with Focus Financial Partners, the network of independent financial advisors.

HighTower has added a Merrill Lynch team with nearly $300 million in assets to its new network aimed at breakaway independents.

Elliot Weissbluth tells HighTower conference attendees that he anticipates headwinds for firms that provide both products and advice and sees no future for small, unsophisticated advisors.

A former Merrill Lynch advisor team has left the wirehouse to form Quadrant Private Wealth, a new partner firm of Focus Financial Partners, according to a spokesperson.

The world’s biggest bond dealers, including JPMorgan Chase & Co. and Morgan Stanley, failed to properly report trades to the industry’s price-tracking system more than 11,000 times. JPMorgan’s penalty: About three minutes of its annual profit.