Brokerage firm added 81 ‘experienced’ advisors in second quarter but net number of advisors is down by more than 100 despite sweetened recruiting deal.
Indiana-based Bison Financial principals now with Ameriprise lost their FiNet licenses because of “certain annuity processes,” regulatory filings say.
Wells reportedly pressured Bison Financial to leave, but permitted two of the Indiana-based firm’s eight offices to remain.
NFL star claims that firm was negligent in failing to stop a former broker who allegedly stole $15 million.
Less than a year after being named a top ten branch manager by a national magazine, a Florida broker goes to work for a local RIA and registers as Uber driver.
Firm may retract some planned sales restriction if DOL fiduciary rule is delayed or discarded, but is sticking by plan to curtail mutual fund shares that pay ongoing trails.
Decision is “vote of confidence in our advisors’ continuing commitment to placing client interests’ first” in the face of the new DOL fiduciary rule, wealth executives said.
Like LPL, firm and its brokers are looking for ways to make up for advisory account revenue that will be lost to new DOL fiduciary rule.