A majority of the broker-dealers in the Advisor Group Inc. network are facing dozens of investor arbitration claims totaling $19.4 million stemming from investments in GPB Capital Holdings private placements, a series of auto dealership and waste management investments that ...

Lars Lambrecht, an adviser who managed $155 million at Ameriprise Financial Services, has rebranded his practice as Island Time Financial Services and affiliated with SagePoint Financial, part of Advisor Group. Lambrecht and his two-person team are based in Rehoboth, Massachusetts, ...

The Financial Industry Regulatory Authority Inc. wrapped up 2021 with settlements and penalties against two sizable broker-dealers that work with independent-contractor financial advisers. On Dec. 22, Finra penalized Emerson Equity $1.7 million for years of poor supervision of short-term mutual ...

As 2021 nears its close, LPL Financial has reeled in a big fish, Dan Cairo and Elite Financial Network, from rival Securities America Inc. Based in Huntington Beach, California, Elite Financial Network has 32 financial advisers in its network across ...

HPK Provident Advisors, a four-adviser team managing $230 million in Bridgeville, Pennsylvania, and Sarasota, Florida, has switched its broker-dealer affiliation and corporate registered investment adviser platform from FSC Securities Corp., which is part of Advisor Group, to LPL Financial. HPK ...

Advisor Group lost one of its biggest and most important financial advisers last week, Kevin Myeroff of Royal Alliance Associates Inc. — a regular on Barron’s ranking of top independent advisers whose firm, NCA Financial Planners, has about $1.7 billion ...

Hartford Fund Distributors and Woodbury Financial Services Inc. are on the hook for $100,000 in damages stemming from Hartford allegedly permitting an individual to impersonate a client and withdraw a large sum from a Hartford mutual fund held in a ...

GenXFinancial, the Nashville, Tennessee-based parent of super office of supervisory jurisdiction Innovative Financial Group, will acquire Boston Partners Financial Group, another large office of supervisory jurisdiction that’s affiliated with Royal Alliance Associates. Each OSJ manages about $4.5 billion in client ...

Advisor Group Inc., a massive network of more than 10,000 financial advisers, is shaking up its recruiting effort, and last week said it had hired Kristen Kimmell from RBC Wealth Management to head its recruiting of financial advisers across its ...