In The News
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April 4, 2012 -Brad Griswold had a fondness for Schwab from using PortfolioCenter and is determined to remove all obstacles to growth, profitability and offering choice to clients.
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March 5, 2012 -As indepdent broker/dealers continue to consolidate and the search for profitability accelerates, some firms may be considering dropping their clearing relationship and taking it in-house. Building sclae comes first. Could your firm be the next?
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March 2, 2012 -Independent Financial Partners has gotten so big that it's taking a bite out of LPL's business -- and LPL doesn't seem to mind.
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February 29, 2012 -Dispensing financial advice for a living is a tough game if you are young. That's the conclusion drawn from a new report by Charles Schwab, which shows that advisors under the age of 40 are more likely than their older peers to feel pressure to grow their book of business, or to focus selling proprietary products.
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January 9, 2012 -Cetera Financial Group announced plans Monday to acquire Genworth Financial’s broker/dealer, Genworth Financial Investment Services (GFIS), expanding its network of broker/dealers. The move will add around 1,800 financial advisors who focus on tax and accounting services to the 5,000 already divided between Cetera’s three broker/dealers Multi-Financial , Financial Network and PrimeVest Financial. The GFIS acquisition is expected to close in 90 days.
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December 8, 2011 -Raymond James has always been considered the key rival to LPL for IBD business but to some extent that hasn’t proven true. LPL has grown like a weed; RJ has grown, shall we say, at a more deliberate pace. If there’s anything that could change that equation, it would be fresh blood at Raymond James.
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September 8, 2011 -David Darnell spent his first day on the job as Sallie Krawcheck’s replacement explaining that there’s one major line item on the BoA profit-and-loss statement he’s not going to touch – compensation paid to financial advisors, according to Bank of America.
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September 7, 2011 - Yesterday’s surprise dismissal of Sallie Krawcheck as head of Global Wealth and Investment Management at Bank of America is unlikely to cause a mass exodus of advisors from the bank's Merrill Lynch brokerage or to stop new advisors from joining it, says Scott Miller, president of FirstPoint Partners, a San Diego based recruiting firm. -
August 18, 2011 -Questions abound in the wake of Ladenburg Thalmann Financial Service’s $150 million acquisition of Securities America.
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July 29, 2011 - Co-founders Scott Collins and Scott Miller say they already have arrangements with Raymond James, Commonwealth and major custodians