Citing the need to “know our investors,” the independent brokerage giant sticks with plan to end brokers’ ability to buy mutual fund shares directly even if fiduciary rule changes.
Massachusetts fines LPL almost $1 million and continues to prosecute a former broker over annuities sales violations, while New Hampshire pursues ex-Waddell broker for financial planning double-speak after fining firm $900,000.
After two months of rumors that he was ending his 27-year relationship with LPL, the big producer jumps to a rival independent firm.
Nebraska-based independent broker denies reports he will take practice to Cetera after more than 25 years with LPL.
President Dan Arnold to replace him in January as the independent brokerage embarks on the ground-shaking transition to DOL fiduciary rule compliance.
Roger Zullo fabricated clients’ financial suitability profiles en route to pocketing $1.8 million of commissions for selling a high-cost variable annuity from AIG product.
Friends in three separate communities shift to Raymond James independent channel.
The Louisiana group’s contact with Morgan clients holding $1.4 billion at the bank allegedly violated employment agreements.
Biggest independent brokerage firm expects to capture advisors and clients from wirehouses, independent rivals and small bank-run brokerage firms, CEO says.
Discount brokerage executives say DOL fiduciary rule will expose high fees and low advisory account payouts at full-service firms.
Move will “ensure alignment with anticipated DOL requirements relating to standardized and reasonable compensation,” firm told brokers on Thursday.