News
LPL Buys National Planning Holdings in $325 Million-Plus Deal
Cash deal could add 3,500 advisors and $120 billion of client assets.
Credit Suisse Quietly Transfers “Orphaned” U.S. Brokerage Assets
Amid continuing legal battles with its former U.S. brokers, the Swiss bank is transferring a “substantial” amount of money left in customer accounts to a small New York City brokerage.
Stifel Brokers Pay for Tampering with Former Firm’s Client Data
Arbitrators uphold Hilltop Securities’ claim of criminal computer crime in imposing damages against San Diego brokers who jumped to Stifel.
Oppenheimer Wins Skirmish in Blackmail Lawsuit Against Data Vendor
Firm alleges that DocuLynx refused to return client data to get new contract, raising risk of “substantial economic fines from regulators.”
DOL Transition on Hold Until 2019 and Other Top Stories
Most popular stories and comments from August 7 through 12.
Wells Fargo Advisors Shuffles Field Leaders, Creates New Region
Reorganization is aimed to “position our field leaders closer to our advisors,” according to an internal memo.
Oppenheimer Loses $28 Million Claim Against Jefferies Wealth Executive
Arbitrators deny attempt to collect mega-damages from fixed-income star Greg Fisher and to pay his hefty legal fees.
DOL Seeks 18-Month Delay in Fiduciary Rule Transition
Files to delay effective date of best-interest contract and other controversial and potentially costly requirements to July 2019 from January 2018.
FBI Investigates Boston Broker Fired by Morgan Stanley
Elderly client who alleges that James Polese plundered his account said agents are asking questions.
Despite DOL Travails, Ladenburg’s Profit Rises
Parent of Securities America eyes acquisitions and recruiting in independent sector despite growing expenses due to DOL fiduciary rule.
Independent B-D Kestra Buys H. Beck, a Smaller Rival
Deal could add 600 brokers to Kestra’s 1,700.
