Independent BDs

The Northeast prevails, but there's a surprise in the rankings revealed by this interactive infographic.

In addition to redesigning its business lines, the $48 billion firm is considering a robo, the president of its broker-dealer said.

The independent advisor will retain branding rights and full autonomy.

The country’s sixth-largest IBD is shifting its management ranks in a change prompted by the fiduciary rule.

The nation’s largest independent broker-dealer has had a net loss of 121 advisors this year, mostly to three major OSJs.

The advisors come from a firm reported to manage over $5 billion in assets.

A new industry snapshot highlights record firm count and AUM, while continuing steep client growth fueled in considerable part by the rise of robos.

The IBD spent $77 million on technology upgrades in 2016.

The nation's biggest IBD believes macro trends are ideal to boost recruiting, says LPL managing director Bill Morrissey.

The firm is trying to show advisors how they can use LPL’s resources to “get more at-bats” with prospective clients, an executive said.

Dan Arnold says behavioral management, automation and portfolio and planning services need to be combined to win future clients.

CEO Dan Arnold said advisers’ uncertainty about the fiduciary rule is waning.

"This is a challenging time for the firm with the DoL rule," CEO Paul Reilly said.

The rule has cost the firm tens of millions of dollars in compliance and lost revenue.

"Banks traditionally pay higher valuations, but [RIAs] should go into deals with eyes wide open," Dave DeVoe says.

The new executive will lead a team counseling advisers on how to comply with the DOL rule.

The Labor Department has indicated that further revisions to the regulation could be forthcoming.

Firms still rely heavily on commission income despite drops last year.

The four advisers joined the more than 500 lost by the wirehouse in the last nine months.

The two advisers bolted in a quarter that saw their ex-firm lose 130 advisers.