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Despite pledges, the IBD network didn’t collect enough data for suitability reviews of the outside transaction for more than five years, according to the regulator.
December 22
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Like its largest rivals, the wirehouse kept grids at par after a tumultuous 2020.
December 17
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Waddell & Reed had been working in recent years to transform its “proprietary broker-dealer into a fully competitive independent wealth manager.”
December 10
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Funding is getting tighter as advisors look towards marketing automation as an engine for growth.
December 9
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Brian Truscott oversaw more than $330 million in client assets.
December 8
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Nate Angelo will be responsible for 137 advisors who manage roughly $20 billion in assets.
December 4
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The firm’s investment management division is bringing 55ip under its roof just two months since launching a partnership with the fintech firm.
December 4
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The No. 1 IBD is responsible for nearly half of the dozen mega-moves in its sector this year.
November 24
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As the Federal Reserve strives to help the economy, wealth managers’ revenue takes a hit.
November 18
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It’s another big get for a bank that has been busily luring away top talent from the wirehouses.
November 17
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Executives provided advisors an update. The company has separately said it cut more than 200 retail branches at the end of last month.
November 12
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The 40-advisor OSJ brings more than double the assets of any other new group unveiled across the IBD network in 2020.
November 11
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CEO Jamie Price says the change will reduce potential conflicts of interest related to transaction fees and come with lower prices in wrap accounts.
October 29
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The No. 1 IBD is keeping up the recruiting momentum that’s sustaining record headcounts and billion-dollar moves.
October 23
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If approved for an IPO, the blank check company will face stiff competition among the growing ranks of RIA acquirers.
October 22
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The move represents the third largest out of the IBD channel in 2020, according to company recruiting announcements tracked by Financial Planning.
October 20
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New ownership of the popular platform could open the door for new tech leadership, but don’t count Schwab out yet.
October 19
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Genstar Capital Managing Partner Tony Salewski spoke openly with advisors about the firm’s investment strategy for the IBD network.
October 15
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The regulator would generate an additional $225 million per year from the fee increases.
October 9
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The No. 1 IBD’s 2,500-advisor bank channel will add 285 more reps when two massive investment programs affiliate next year.
October 9
