Four-year-old Bleakley Financial’s AUM of about $4.5 billion comes from books its advisers built largely at Northwestern Mutual, but it is now looking for wirehouse recruits.
Nine-advisor team in Louisiana managing some $633 millon shifts to W-2 status with new broker-dealer.
LPL’s army of independents fell a net 65 during the quarter due to the loss of a large firm, while Stifel added a net three brokers and Oppenheimer continued to let loose low producers.
A data leak revealed last week at BlackRock Inc. exposed names, email addresses and other information of about 20,000 advisers who are clients of the asset manager, including 12,000 at LPL Financial, the largest U.S. independent broker dealer.
Gladstone Wealth, an LPL-affiliated firm in New Jersey, asks Rick Frick to bulk up its ranks.
Executive who was trained at Schwab and ran business consulting at LPL will oversee more than 3,000 advisors at the insurance giant’s Prudential Advisors unit.
Merrill teams in Virginia and NYC join independent firms while Stifel group with $180 million of assets affiliates with Ron Carson’s Cetera-based network of firms.
The independent broker-dealer failed to report dozens of customer complaints against brokers from 2013 through 2017 and to file over 400 reports on potential money laundering by customers, Finra said.
Former National Planning Holdings firm agrees to repay Massachusetts investors whose net worth was manipulated to qualify them for purchase of the illiquid investments.