Commonwealth Defends Ban on Commission-based Retirement Products

Major independent firm draws line in the sand in anticipation of DOL fiduciary rule, saying implementing a BIC exemption would be a “hopeless endeavor.”
Health Check-up for the Economy: Earnings Are Up and Estimates For Q3 GDP Are Out

Earnings season starts strong with positive reports for financial companies.
Indie Broker to Pay Almost $1M for Failing to Vet Limited Partnership

Former WFG Investments broker ordered to pay restitution to clients who invested in automated teller machine venture that proved to be a Ponzi scheme.
Wells Fargo Broker Fired Over Client Paperwork Must Return $1 Mln Bonus

Finra arbitrators turn down New Jersey broker’s counterclaim for $3.25 million over defamation and wrongful termination.
Charles Schwab Corp. Chief Executive Walter Bettinger

Discount brokerage executives say DOL fiduciary rule will expose high fees and low advisory account payouts at full-service firms.
The Week Morgan Stanley Countered Merrill on Retirement Accounts

Most-viewed stories from 10/16 to 10/22.
Ex-JPMorgan Broker Wins Defamation Claim

Arbitrator awards New Jersey broker $442,000 in wrongful termination claim in latest reversal for the banking giant.
LPL to Limit Upfront Commissions on Variable Annuities

Move will “ensure alignment with anticipated DOL requirements relating to standardized and reasonable compensation,” firm told brokers on Thursday.
Massachusetts Charges Two NYC ‘Boutiques’ Over Swindling of Elderly Investors

State securities regulator seeks bar of two former brokers at Spartan Capital Securities and Revere Securities, and sanctions against the firms.
Morgan Stanley

Morgan Stanley’s expected decision to allow commission-based retirement accounts could give it a recruiting advantage over its more restrictive rival, analysts say.




Recruiting Wire

Latest Advisor Moves. View full list and rankings

Name New Firm AUM
Jeff Cohen & Christian Clinton Baird $340M
Harold 'Mac' MacFarland & Tadd Hicks Raymond James $220M
Ted Broomhead Janney Montgomery Scott $44M
Randy Powers Stifel Nicolaus & Co. $208M
Daniel Wright Stifel Nicolaus & Co. $41M