Independent BDs

American International Group will acquire the independent broker-dealer from the Hartford Financial Services Group.

LPL Financial reported second quarter net income of $39.5 million, down $6 million compared to $45.5 million in the same quarter of 2011. Net revenues for the second quarter of 2012 increased 1.5% to $907 million, from $894.0 million in the prior year period.

Two financial advisors, Matt Browning and Monica Bacon-Proctor, have been added to independent broker-dealer Securities America’s base of registered representatives.

As part of the service, SumRidge will offer RIAs and broker-dealers daily, weekly and monthly trading desk commentary in the fixed-income markets.

Sallie Larsen will ensure that LPL remains an engaging workplace for its staff and professionals, including those who recruit advisors to the independent broker-dealer.

The nation’s largest independent broker-dealer was honored for proving outstanding support to its financial advisors.

Jeffrey Patterson and Rick Pucci have become registered representatives with the La Vista, Neb., based independent broker-dealer.

Profitability has become a serious challenge for independent broker-dealer firms, according to a survey by Cerulli.

The Financial Services Institute has expanded its agenda to include retirement and tax issues. As part of the expansion, the independent broker-dealer advocacy group has hired Robert Lewis as government affairs counsel for tax and retirement.

The independent broker-dealer is betting that grouping women by life events, not their ages, is the better way to reach them.