Independent BDs

The IBD failed to adequately disclose conflicts of interest to clients related to receiving $10.8 million from mutual funds and its clearing broker, the SEC says.

The insurer lost four prominent female executives earlier this year in departures CEO John Schlifske called “a step backward.”

At her new OSJ, Laura LaTourette is teaming up with fellow influential planner Marci Bair to help educate allies and create more avenues for reps to meet.

The firm added an experienced advisor from Wells Fargo after recruiting 72 other tenured reps in the second quarter.

The two advisors affiliated with a new IBD after one of the largest PE-backed M&A deals of the year closed.

CEO Jamie Price unveiled a three-part “advisor appreciation program” after Reverence Capital closed on a majority stake of the IBD network.

President Adam Antoniades cites record expansion for the year, but the IBD network faces challenges related to recruiting and debt levels.

Bleakley Financial has recruited advisors with $750 million in client assets since January 2018 alongside LPL’s substantial recent grabs.

The new recruits come from Merrill Lynch and Stifel, with $165 million in total client assets.

Newday’s tools include content centered around clients’ issues of focus and, soon, a corn-based compostable debit card.