Independent BDs

At least six RIAs have left since the No. 1 IBD announced a change in policies last November.

Kestra Private Wealth Services CEO Rob Bartenstein says the new practice makes the fourth new office added this year by the hybrid RIA.

The network brought together three dozen advisors with 20 tech vendors as it seeks their input on potential partnerships and acquisitions.

The advisor told victims that he would invest their money in Royal Alliance brokerage accounts but instead used the funds to make BMW car payments and pay for personal expenses, prosecutors claimed.

The broker-dealer refuted allegations that it used false advertising to mislead customers into thinking that the investment services it provided through a Utah-based credit union were part of the credit union.

Investment advisors and broker dealers have different “relationship models” with clients, the chairman says.

The regulator will save members tens of millions of dollars by helping them verify advisors’ Form U4 financial disclosures, Robert Cook says.

The No. 4 independent broker-dealer has unveiled two major recruiting grabs from its rivals in two weeks.

If Cetera ties itself to a culturally unmatched firm, the roadblocks it creates for itself may be too much to overcome, an industry recruiter says.

Firms are required to verify their procedures are reasonable, but they also must tailor their supervision to individual advisors, and sometimes that means crafting higher level of oversight for some people.