News Roundup

News Roundup (489)

Stifel Nabs $217M Wells Fargo Trio

Stifel’s aggressive recruiting push appears to be extending into 2020. So reports On Wall Street.


LPL Picks Up $460M Team

Newly-named Twenty Four Wealth Management has joined LPL Financial’s broker-dealer and hybrid registered investment advisor (RIA) platforms and aligned with Stratos Wealth Partners, an existing enterprise firm that supports the operations and growth of LPL-affiliated advisors. The advisors serve more than $460 million in brokerage and advisory assets*. They join from MassMutual Financial Advisors.


Schwab, TD Ameritrade Deal Could Hurt RIAs

The proposal by Charles Schwab to acquire TD Ameritrade Holdings in a $26 billion deal would give the resulting combined entity huge control of the custodian industry, which in turn could hurt registered investment advisors’ abilities to offer flexible services. So reports Financial Planning.


Ken Fisher's Lewd Comments Still Causing Withdrawals

Chicago’s police pension fund is yanking $67 million from Ken Fisher’s advisory firm, bringing the total amount of institutional assets that have been pulled from the firm to about $3.9 billion in response to the lewd remarks that the executive made regarding women. So reports Financial Advisor.


Ex-Stock Broker, Boyfriend of Missing Woman, Arrested

A former Staten Island stock broker was arrested when police, searching his cellphone while seeking clues in the disappearance of his girlfriend, discovered child pornography. So reports


Shares of Ladenburg Thalmann Rally on Merger News

Shares of Ladenburg Thalmann rallied 20% in a single day following news that the broker agreed to merge with wealth manager the Advisor Group. So reports The Motley Fool.


Potential Financial Planner Shortage Can Be Averted

According to Cerulli Associates, 40% of financial planners will retire in the next 10 years, but taking action to promote the profession among college students could help avert a potential shortage of advisors. So reports CNBC.


Advisor Group Courting Ladenburg Thalmann

Ladenburg Thalmann, a network of IBDs with about 4,400 financial advisors, is reportedly in negotiations to be purchased by the Advisor Group. So reports Barron’s.


Ken Fisher Previously Made Inappropriate Comments

Ken Fischer, a billionaire money manager, has recently come under the spotlight for making sexist comments, but a review of his social media account has found that he had made inappropriate comments prior to his recent statements that have caused some clients to yank assets from his firm. So report Forbes.


Court Gives JP Morgan Broker Second Shot at Arbitration

The U.S. Court of Appeals for the Ninth District has ruled that former JP Morgan Chase broker Bradley Sayre will get a second chance to arbitrate his wrongful dismissal. So reports AdvisorHub.


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