Economy

During Andy Kalbaugh’s tenure with the No. 1 IBD, its headcount grew by more than 50% to nearly 17,000 reps.

The executive shuffle at the company continues as Credit Suisse America’s Paula Dominick is hired to replace Mike Roemer as chief compliance officer. It also hired or promoted four line-of-business chief risk officers and an enterprise testing leader.

The U.S. Small Business Administration has posted rules about how businesses who have been turned down for forgiveness of their Paycheck Protection Program loans can appeal the decision.

There are currently no plans to replace the longtime wirehouse leader, whose responsibilities will be divided among other executives.

As consolidation reshapes the market, the custodian sees an opportunity to attract tech-forward and multi-custodial firms.

The team caters to athletes, entertainers, and entrepreneurs.

Do RIAs still have a clear advantage when it comes to modern planning software?

They all spent over a decade at their former firm.

The firm will also pay a penalty and offer to buy back variable annuities the former broker sold to 21 other investors.

The hires hail from Morgan Stanley and Wells Fargo.

The new hires were previously at Merrill Lynch, UBS, and BB&T.

If clients “looked just three months ago, these numbers would be glaringly different,” an expert says.

With higher compensation offers and a track record of independence, the No. 1 IBD is “challenging the status quo,” its head recruiter says.

Here’s what leaders around the world say must be done.

The initiative is intended to help advisors manage increasingly large and complex teams.

The firm’s growth plans come as the industry experiences a new wave of consolidation among custodians and fintechs.

The firm is still determining which other pieces of technology it will retain after acquiring its rival.

The No. 1 IBD revealed new details of its W-2 affiliation after it followed rivals into the employee channel with an acquisition it made last year.

“We basically had clients demanding that we find a new home,” after Wells Fargo failed to secure PPP loans for them, an advisor says.

The number of advisors registering with FINRA has fallen since 2016, as more planners elect a fee-only model.