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Number of BDs, Reps Drops for Second Straight Year, New FINRA Report Says

00:12 15 August in In the News by rafferty

August 09, 2018 By Melanie Waddell, ThinkAdvisor Small BDs "struggle with keeping up with burdensome FINRA requirements," recruiter Jon Henschen said. The number of broker-dealers and registered representatives continues to decline, with firms registered with the Financial Industry Regulatory Authority dropping to 3,726 in 2017 from 3,835 in 2016. The number of registered reps fell last year as well, dropping to 630,132 in 2017 from 635,902 in 2016. That’s according to the broker-dealer regulator’s just-released 2018 Industry Snapshot, a first annual statistical report on the brokerage firms, registered individuals and market activity that FINRA regulates. FINRA states that it is sharing the statistical overview as part of fulfilling transparency goals under the FINRA360 initiative. Data ranges from the size and geographic distribution of the firms FINRA regulates to the number of individuals in the industry, along with...

DOL Storm Watch

16:49 06 April in In the News by rafferty

April 4, 2016, Financial Advisor Magazine Author Dan Jamieson's article opens with, "It wouldn’t be an overstatement to say that independent broker-dealers spent the first two weeks of March in a state of paralysis, awaiting the final outcome of the Department of Labor’s fiduciary rule...

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AIG Advisor Group for Sale: Who’s Likely to Buy It?

16:51 18 November in In the News by rafferty

November 17, 2015 By Janet Levaux, ThinkAdvisor   With Cetera also up for grabs, who could pounce on the latest IBD to hit the market? News of the possible sale of yet another large group of independent broker-dealers emerged Tuesday, when AIG disclosed that it had been contacted by parties with interest in its Advisor Group. “AIG is conducting a strategic review of all its priorities as part of its stated goal of focusing on its core services and reducing the complexity of its business. This effort includes a review of the benefits associated with its ongoing ownership of a network of broker-dealers, and we have received several inquiries regarding its Advisor Group business,” according to an AIG statement shared with ThinkAdvisor on Tuesday. “AIG values the Advisor Group franchise, and any possible actions taken will...