Independent BDs

VisionPoint Advisory Group is looking to use the giant independent broker-dealer as a base to expand by recruiting more advisors.

The independent broker-dealer network, which would be the nation's fourth-largest IBD if all its component businesses were consolidated, has named a 42-year-old internal candidate.

Sometimes changing broker-dealers doesn't work out the way you expect. Just ask Wayne Maier, a financial advisor in Bay City, Mich.

Larry Roth, former president and chief executive officer of Advisor Group, one of the country’s largest networks of independent broker-dealers, is joining Realty Capital Securities, a major broker-dealer and wholesaler of real estate investment trusts, as chief executive officer.

As summer comes to a close, we're taking a look back at some of the hottest stories this season. Whether you were on vacation or busy working -- maybe you just finally have time to catch up on reading over the long weekend -- we've gathered the summer's top stories all in one place.

LPL is shuttering NestWise, the once-hyped unit that was launched just last year to serve less affluent customers, and has laid off 40 NestWise employees.

To do so, the country’s largest independent broker dealer expects to have a portal up and running, probably under the name AdvisorHarmony, as early as next year that will allow advisors to sift through potential partners on their own.

John Hancock Financial Network has rebranded under the name Signator Investors, as a sign to advisors of its commitment to grow the advisory side of its business.

For traditional Super OSJs to survive and prosper over the long term, they must begin to provide a more dynamic set of services to independent advisors – who increasingly are facing greater practice management, asset management and technology complexities.

Raymond James is ramping up its pitch to attract independent advisors by opening up access to alternative investments.

The 15th largest independent broker-dealer in the country, National Planning Holdings, continues to grow in size.

Brokers who hold investors’ assets will have to file quarterly reports attesting to compliance with measures toprotect customer money and securities under rules adopted by the U.S. Securities and Exchange Commission.

LPL Financial Holdings reported the strongest quarter in the company’s nearly three years as a public company, with net revenues topping $1 billion for the first time. LPL’s board of directors also announced the company’s quarterly dividend would be raised 40% to 19 cents per share.

Washington Wealth Management is continuing its rapid growth -- albeit at a slighter slower pace than its own CEO had forecast.

With three more even larger deals expected to be completed by September, Carson Institutional could become a serious alternative to some of the leading roll-up firms in the nation.

Independent broker-dealer Securities America is pressing ahead with its aggressive recruitment campaign, hiring three regional directors to help attract prospective independent advisors, the firm announced Tuesday.

It’s a tricky act, being both big and personal. But organizers of LPL’s 23rd annual conference are aiming to strike this balance, according to one of its organizers.

Founder Eric Schwartz is making big plans to preserve the firm’s independence and viability for the long term -- by giving away control now.

Northstar Wealth Partners, the largest LPL Financial-affiliated wealth management firm in Connecticut, has nearly doubled its assets under management to just under $2 billion -- by recruiting two advisors formerly with Essex Financial Services in Essex, Conn.

Securities America has ramped up the fierce competition for independent advisors, launching a new RIA targeting advisors with between $50 million and $250 million assets under management.