Independent BDs

The 40-advisor OSJ brings more than double the assets of any other new group unveiled across the IBD network in 2020.

But the regulator also ordered record payouts in 2020, including restitution through a self-reporting program that drew industry ire.

The private equity-backed firm’s bottom line has been less affected by coronavirus-related low interest rates than its rivals, Moody’s says.

CEO Dan Arnold cites growth in traditional channels and in recently launched models that could bring even more opportunities.

Even with those challenges, rep productivity and client cash balances expanded in the third quarter.

CEO Jamie Price says the change will reduce potential conflicts of interest related to transaction fees and come with lower prices in wrap accounts.

The nation’s largest IBD made its first tech deal this year for a firm that has $120 billion in assets on its platform.

The No. 1 IBD is keeping up the recruiting momentum that’s sustaining record headcounts and billion-dollar moves.

The move represents the third largest out of the IBD channel in 2020, according to company recruiting announcements tracked by Financial Planning.

Genstar Capital Managing Partner Tony Salewski spoke openly with advisors about the firm’s investment strategy for the IBD network.

The regulator would generate an additional $225 million per year from the fee increases.

The No. 1 IBD’s 2,500-advisor bank channel will add 285 more reps when two massive investment programs affiliate next year.

The advisor allegedly carried out a 20-year scheme defrauding at least 15 clients through forgery and misrepresentations.

The advisor allegedly used an omnibus trading account to help himself and hurt his clients to the tune of tens of thousands of dollars, according to the regulator.

Demand from clients has some advisors reconsidering sustainable investing strategies.

The discrimination case revolves around allegations of disparate treatment in the firm’s agency distribution channels.

The firm is maintaining control but dropping its FINRA registration as the sector’s rising expenses and lower margins fuel consolidation.

Actions hit a nine-year high and restitution climbed to the highest total since 2013 — even before the rule’s heightened scrutiny.

Bleakley Financial Group also picked up an ex-hedge fund portfolio manager while expanding its national footprint.

The number is behind previous years, but the firm’s new head of business development says independence is more appealing amid the coronavirus.