Independent BDs

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.

The division, created in 2001 and made up of affiliated RIA firms who custody their assets with Raymond James, now includes about 100 firms, approximately 250 advisors, and more than $8 billion in assets.

Raymond James lured six advisors with over $350 million in client assets to its independent channel, the company announced Thursday.

The acquisition comes just nine days after United Capital acquired an Atlanta wealth manager and is the latest example of the firm’s aggressive, Starbucks-inspired expansion strategy.

Sanctuary Wealth Services, a San Francisco-based platform provider and services support firm for wealth managers, has snagged a Morgan Stanley breakaway team specializing in proprietary asset management.

The Boston company said it is realigning to better serve advisors in the independent, bank, broker-dealer and family office channels.

St. Louis-based Buckingham Asset Management has added JWA Financial Group of Dallas in its latest acquisition.

To continue its expansion in Atlanta, United Capital announced Monday it bought the majority of the assets of Atlanta-based PPA Advisors.

The nation’s largest independent broker-dealer is partnering up to enhance its recently launched online retirement planning services platform.

Industry veteran Steve Dunlap, who previously held two top jobs at Bank of New York Mellon, is joining Cetera Financial Group as executive vice president, wealth management.

FINRA has censured Securities America and fined it $100,000 for making inaccurate and misleading statements to clients via emails.