Independent BDs

The broker hasn't been registered in over a decade, and was using clients’ usernames and passwords to make trades in their self-directed brokerage accounts, according to the regulator.

Some of the recently acquired advisors will open branch offices for the growing BD.

The firm’s National Financial Services allegedly failed to deliver certain basic information to clients in five public offerings of shares in a fuel cell technology company.

The advisor sold securities out of one account to buy a Camaro ZL1 — then resold the car to the same victim, the regulator alleges.

Lower transaction costs can often come with higher expense ratios at the nation’s largest IBD.

The new recruits include a 34-year industry veteran.

Focusing on “investment in leadership and access to markets,” the IBD aims to support reps and clients of diverse backgrounds, its head recruiter says.

The father-son practice with two other advisors switched their affiliations after its founder had spent 18 years with New York Life.

The latest roundup of news in the IBD and RIA channels comes in a time of economic turmoil and big transactions.

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