Tag: Broker/Dealer

Financial Telesis Inc. expanded its advisory team with the addition of ABD Retirement Services, a division of ABD Insurance and Financial Services.

David Cohen, Andrew Olig and Ken Terranova have been added to Symetra Financial Corp.’s registered investments sales team.

The independent broker/dealer LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc., announced its affiliation with Advantage Financial Group (AFG).

SunAmerica Financial Group Inc. agreed to acquire Woodbury Financial Services Inc., a brokerage unit of The Hartford Financial Services Group Inc.

Mutual of Omaha’s Retirement Plans Division named Diane Kolvek and J. Michael Peddicord as regional sales directors, and Robert Nourse as national accounts channel manager. 

Matrix Financial Solutions updated its Matrix RetireTool(k)it.

National Financial Partners Corp. (NFP), a provider of benefits, insurance and wealth management services, acquired Fusion Advisor Network, a practice management and consultant to advisers.

 The Securities and Exchange Commission (SEC) hired Paula Drake as an associate director in its Office of Compliance Inspections and Examinations (OCIE).   

The SEC is better suited to oversee independent advisers, the National Association of Personal Financial Advisors argues.

Uzurp.com opened its financial adviser and registered investment adviser (RIA) databases to the public, for the same annual subscription rate as businesses of $999 a year.

BNY Mellon has created a unit to help clients manage collateral.

A team of advisers from Morgan Stanley Smith Barney (MSSB) left the brokerage to open their own firm with Raymond James Financial Inc.’s independent broker/dealer in Ohio.

Florida broker saw lunar effects on the stock market, but managed to miss the Securities and Exchange Commission (SEC) fraud charges coming his way.

 Software app from Mediant Communications lets advisers monitor and view documents mailed to their clients to help them evaluate their importance.   

The bill is crucial to protect middle-class Americans who need the services of a financial adviser, the president of the Financial Services Institute (FSI) told Congress.

A webcast by The Spark Institute examined details of the Department of Labor’s (DoL) final 408(b)2) regulation. 

Citi released a white paper that details issues facing broker/dealers and registered investment advisers (RIAs) with delivering services to meet recommended changes to fiduciary requirements.

Matrix Financial Solutions is expanding its core mutual fund trading platform, offering advanced plan proposal and management features for financial advisers.

Some industry experts are concerned that covered service providers will misinterpret the Department of Labor’s (DoL) 408(b)(2) regulation guidance about using ranges to estimate indirect compensation.  

The Financial Industry Regulatory Authority (FINRA) issued an investor alert called “It Pays to Understand Your Brokerage Account Statements and Trade Confirmations.”