Wells Fargo Indie Group Adds 2 Ex-Morgan Stanley Advisors
The team, which has about $190 million in assets, was with LPL Financial before working for the wirehouse.
Schwab Hit With $2M FINRA Fine Over Net Capital Deficiencies
On three occasions in 2014, Schwab was short on net capital by as much as $775 million.
FINRA Sweeping BDs on Comp Practices
Recruiter Jon Henschen says FINRA treats BDs like "moonshiners," made to pay "extortion money" in the form of fines for breaking ever-more convoluted rules.
LPL Grabs Wells Fargo Advisors’ Tech Chief
Anthony Perkins is tapped to be the IBD's head of technology product development.
Boomers Drive IRA Rollover Surge, Advisors Lead Pack as Recipients: Cerulli
Aging Baby Boomers who consolidate their accounts will push asset growth to $12 trillion by 2020 and advisors, so far, are getting most of it.
DOL Tackles Key Fiduciary Plan Proposals at Hearings
First round of DOL hearings prompts discussions on Best Interest Contract Exemption, mandatory arbitration as well as whether the proposed plan would spur lawsuits.
Sen. Warren Floats Bill to Stop Credit Checks by Employers
The Equal Employment for All Act would prohibit employers from requiring potential employees to disclose their credit history when applying for a job.
LPL Posts Higher Q2 Earnings, Flat Revenue
The IBD had lower regulatory costs, but sales commissions slowed in the three months ending June 30.
Ex-Morgan Broker Loses Fight With FINRA Over ‘Forgivable’ Notes
Breakaway broker Nick Ragone, who claims “FINRA colludes with firms,” is livid over a ruling on $400,000 in bonus promissory notes.
FINRA BrokerCheck Plan Gets More Flak
The IBD lobby wants clarity for indie reps, while NASAA wants the rule to include email signatures.