sidebar

Connect: 888-821-8107

Connect: 319-210-7700

archive

broker dealer Tag

Investment News logo

Large independent broker-dealers continue to make headway with recruits

21:38 01 May in In the News by rafferty

May 1, 2017 By Bruce Kelly, Investment News   After a strong recruiting year in 2016, large broker-dealers continued to ring up recruiting gains in the first quarter. For example, Ameriprise Financial Inc. said that close to 100 veteran advisers moved their practices to the firm in the first quarter, compared to 77 in the prior quarter. Commonwealth Financial Network continued to attract advisers, snagging advisers producing about $15 million in total revenue — known as gross dealer concession in the industry — for the second consecutive quarter, according to a senior executive at the firm. And LPL Financial Holdings Inc. said that it added 95 advisers in the quarter, but those gains were tallied only after excluding the previously discussed large departures of advisers — 118 — related to institutional clients and client separations. With...

ThinkAdvisor logo

5 Compliance Approaches That Chase Away Advisor Talent

17:48 01 May in Articles Written by Jon Henschen by rafferty

April 26, 2017 By Jon Henschen, as featured on ThinkAdvisor   Several months ago, I took my wife’s car out on an errand and noticed the front driver side panel protruding out at the seam. I didn’t notice any dents or scratches so I simply pressed the panel back in place. Investigating further, taking a walk around the front of the car and then to the passenger side, I saw scratches and a large dent. It turned out that our teenage daughter had driven into a mailbox as she swerved the car off the road reaching down to the floor to grab a CD to play. There was no mention of the incident until we brought it up, as is so often the case with teenagers, who are at a phase of life...

Fundfire a Financial Times Service

Ameriprise Acquires $8B Indie Brokerage

17:42 26 April in In the News by rafferty

April 25, 2017 By Danielle Verbringe, FundFire   Ameriprise Financial has announced plans to acquire Investment Professionals Inc. (IPI), in a deal poised to add 200 advisors and $8 billion in client assets. IPI, a San Antonio, Texas-based independent broker-dealer which specializes in providing investment programs to banks and credit unions, will operate as a new Ameriprise advisor channel focused on serving financial institutions, according to a press release from Ameriprise. “We see this as a new growth opportunity and another avenue for providing an outstanding client experience,” said Pat O’Connell, executive v.p. of Ameriprise Advisor Group, in an email response to questions. Scott Barnes, chairman and founder of IPI, will serve in an advisory role with Ameriprise. Jay McAnelly, president and CEO of IPI, will also join, reporting to O’Connell. “We’re confident IPI advisors will see...