Broker Dealers
Read about the industry's top broker-dealers, including news, analysis, commentaries and more.
Top 5 Risks Related to Online Account Opening
By David FetterProper collection of account data at the onset can improve the customer experience and business workflow at all points in the investment cycle.
July 20, 2012
Resolved: FINRA Should Review These 10 Outdated RulesFINRA should heed the advice of a recent GAO report and revisit these rules, which the authors humbly suggest either no longer work as intended, or have effectively been replaced by other rules or guidance.In response to the GAO recommendation,
July 16, 2012
FINRA’s New Suitability Rule Edges Closer to ‘Fiduciary’: NAPFA ChairmanRon Rhoades, the chairman of NAPFA, says the rule's biggest challenge is that a BDs investment strategy must now meet suitability requirements.
July 12, 2012
National Financial Partners Buys Fusion Advisor NetworkFusion, a consulting network to advisors, will become part of BD NFP Advisor Services Group; its founder, Stuart Silverman, will remain.
July 12, 2012
BDs Beware: Social Media Privacy Laws May Conflict With FINRA RulesLegislation that limits access to social media information may pose significant challenges for a large number of broker-dealers, lawyers from Sutherland Asbill & Brennan wrote in a Law360 article.
July 11, 2012
LPL Adds Strategies to Growing Fee-Based Models Platform, Lowers MinimumsNew strategies added to the platform include offerings from AlphaSimplex, J.P. Morgan Asset Management and Morningstar. LPL will also lower the account minimum to $25,000 from $100,000, Vice President John Moninger said.
July 11, 2012
PFGBest Collapse Leads to CFTC, FBI InquiriesThe CFTC and FBI have taken action against a Cedar Falls, Iowa-based broker after the discovery that $220 million was missing out of $225 million in customer funds. PFGBest founder Russell Wasendorf attempts suicide outside the firms offices.
July 10, 2012
The Times Editorial, Fiduciary Duty and the Levitt RuleWhat is unethical? Not a broker-dealer that sells proprietary product, but one that just meets fair-dealing suitability rules while simultaneously telling investors that We always place our clients first.