Independent BDs

A complaint that Schorsch instructed ARCP executives to shift numbers in the company’s second-quarter results to cover up errors from the first quarter is part of a defamation suit against ARCP, Schorsch and former ARCP Chief Executive David Kay, according to The Wall Street Journal.

Regulators penalized both the independent and employee channels of Wells Fargo for failing to properly screen over 200,000 customer accounts.

From the family feud that rocked Nicholas Schorsch's REIT and IBD empires to LPL's regulatory lapses and a wealth management crisis sparked by a CEO's private fund, the advisory industry had a healthy share of lowlights in 2014. Here are some of the most memorable.

"He clearly wouldn't be walking way [from American Realty Capital] if things were business as usual,” says Aite Group analyst Alois Pirker. “The optics are just not very good."

From the breakthrough performance of 'robo advisors' to Schorsch's big grab, the advisory industry has seen major changes in 2014. Here's a look at the most important events and trends pushing the industry forward this year.

RCS Executive Chairman Nicholas Schorsch and two other top executives resigned from American Realty Capital Properties.

The three founders of Concord Equity Group Advisors, a firm LPL bought in 2011 after the RIA allegedly hid commissions from its institutional clients, settled with the SEC.

The firm beefs up its Salt Lake City presence toward the end of a year that's seen a doubling of both advisors and assets.

The industry regulator closes the comment period for its controversial data-reporting initiative as brokerage trade groups warn of privacy concerns and compliance costs.

As the rate of change accelerates, advisors face big shifts in automated tools, portfolio management and rebalancing. Our annual report shows where the action is.

FINRA hands out 18-month suspension, $10,000 fine and $233,000 in 'disgorgement' for selling away and nondisclosure issues, documents say.

Point72 Asset Management said it took a 5.1% passive stake in RCS in a Nov. 14 regulatory filing.

Advisors need to face a hard truth: Independent RIAs have lost this round. Fortunately, there are other, better ways to set yourself apart.

Nicholas Schorsch's expanded financial advisory business reported adjusted net third-quarter income of $35.5 million on Thursday, but revenue was driven by higher retail and investment management results.

Janet Robinson is the first woman to join the 8-member board of the independent firm founded by wirehouse managers and affiliated with Raymond James Financial Services.

Worries about a tidal wave of retiring advisors may be overblown, say some wealth management executives.

RCS executive says it “will take some time” to restore normalcy to his embattled firms.

LPL says it has indefinitely suspended sales of investment products sponsored by American Realty Capital and RCS Capital.

Lebenthal Wealth Advisors has recruited a former wirehouse branch manager and two independent advisors to fulfill its growth plans.

An independent advisor managing $165 million has joined Ameriprise's employee channel.