Independent BDs

If there is one sentiment that fiscal policy debates in Washington have taught investors not to expect over the years, it’s optimism, according to the chief market strategist at LPL. Time and again, we have seen our politicians respond to serious questions on the future of our nation’s economy by kicking the can down the road, or worse. Could it be different this time around for 2013?

Celebrating its two-year anniversary with an announcement of its 11-figure status, New York-based Dynasty Financial Partners aims to separate itself from the myriad of firms offering services to registered investment advisors.

With over 1,000 broker-dealers to choose from, how does an advisor navigate the choices, know where to go, and know where to be looking in the first place?

Grabbing a top executive from one of the world's premier technology companies, LPL Financial has nabbed a top technology officer from Dell Inc. to help lead the independent broker-dealer's technology effort.

A little more than a year after launching Retirement Ready, a retirement income program for its advisors, John Hancock Financial Network today announced the launch of a new iPad application and updates to the program.

Beverly Hills Financial Planners, Informative Financial Services, and Ranker-Hanshaw Wealth Management are the newest firms to join Royal Alliance, which has nearly 2,000 affiliated independent financial advisors.

Determined to keep its 48-year-old firm’s “small, hometown feel,” Investors Security of Suffolk, Va., has decided to drop its own broker-dealer and affiliate with Securities America.

LPL Financial, the nation’s largest independent broker-dealer, announced Monday that Legacy Financial Planning has transitioned to its broker-dealer platform.

Raymond James has lured an LPL team of financial advisors in Towson, Md., that will operate under its independent broker-dealer.

The New York City based wealth advisory firm appointed Lyle LaMothe as Non-Executive Chairman of the board and Greg Franks as a managing partner and president. Chris Lappas joined the firm as the chief operating officer.

Woodbury Financial brings approximately 1,400 advisors and $25 billion in assets under management to the group’s network, which includes FSC Securities Corp., Royal Alliance Associates and SagePoint Financial.

“What we ... know is that there are a lot of advisors who think their entire value is wrapped around they’re delivering advice to clients and telling them how it’s going to work out,," Joe Duran, the CEO of United Capital said. "But the reality is that we don’t believe that’s the future."

More than seven in 10 advisors believe a deal will be reached that includes both higher marginal tax rates for wealthy Americans as well as curbs on deductions.

To help its advisors grow their businesses, Cetera Financial Group is bringing on a fleet of new advisory and product sales consultants. The added manpower is intended to give each consultant and sales manager more time to provide in-person and virtual support to advisors as the firm re-engineers its advisor support regions, according to Cetera.

To streamline document processing, LPL Financial has introduced DocuSign’s eSignature solution for all of its advisors.

National Advisors Trust has launched an upgraded version of AdvisorDesk, the firm’s proprietary multi-custodian technology platform.

J.W. Cole Financial, a Tampa, Fla., based independent broker-dealer, announced Monday that it plans to acquire Financial Advisers of America.

Securities America announced Thursday that managing partner of Kelley & Mullis Wealth Management, Michael Mullis, has become a registered representative with the independent broker-dealer firm.

Lisle Savings Bank, with over $516 million in assets, joins more than 150 other banks and credit unions, and more than 1,100 representatives nationwide also supported by Invest, a subsidiary of the independent broker-dealer network National Planning Holdings.

Sovereign Investment Group, a Texas independent wealth management firm, announced Wednesday it hired Michael Koletar as a senior vice president of investments for its wealth management team.