Broker Dealer

September 12, 2023

Cetera to Buy Tax-Focused Avantax in $1.2B Deal

Cetera to Buy Tax-Focused Avantax in $1.2B Deal September 11, 2023 | Janet Levaux | Think Advisor Cetera Financial Group is buying Avantax, formerly Blucora, in an all-cash transaction for $1.2 billion — a transaction that adds Fidelity as a custodial partner for Cetera. The news comes a month after Cetera wrapped up its purchase…

June 27, 2023

Ashford Securities Announces $500 Million In Capital Raised Since 2021

Ashford Securities LLC (“Ashford Securities”), a wholly-owned subsidiary of Ashford Inc. (NYSE American: AINC) (“Ashford”), is pleased to announce that it has reached a milestone of $500 million, including $42.1 million from institutions, in capital raised in less than two years of serving investors via the independent broker-dealer and RIA distribution channels.

February 22, 2023

Ashford Securities Announces Closing Of First Investment Offering Placing $460 Million

"We look forward to building on the success of the Braemar offering and raising capital for Ashford Hospitality Trust, Inc. (NYSE: AHT) through the issuance of its Series J & K Redeemable Preferred Stock Offering.”

December 13, 2017

LPL retains $1.6B Zuk Financial Group

Zuk Financial Group, a Lake Forest, Calif.-based hybrid that oversaw $1.6 billion in client assets while affiliated with National Planning Corp., has decided to remain with that firm's new owner, LPL Financial.

January 11, 2017

With DOL fiduciary looming, Advisor Group reduces fees on its brokerage and advisory platform

With DOL fiduciary looming, Advisor Group reduces fees on its brokerage and advisory platform Move is among a series of changes the firm is making as it gets ready for new regulation Jan 10, 2017 @ 11:52 am | By Bruce Kelly | Investment News With the Department of Labor's new fiduciary rule for retirement accounts looming,…

October 27, 2016

Ameriprise will stick with IRA commissions under DOL fiduciary rule

Ameriprise will stick with IRA commissions under DOL fiduciary rule Oct 26, 2016 @ 1:31 pm | By Bruce Kelly | Investment News CEO says the commission model, which will require more compliance work on the company's part, serves both clients and advisers well In contrast to a couple of its most prominent competitors, Ameriprise Financial Inc.…

October 25, 2016

Commonwealth Financial eliminates commission-based retirement products in wake of DOL rule

Commonwealth Financial eliminates commission-based retirement products in wake of DOL rule Oct 24, 2016 @ 6:37 pm | By InvestmentNews Staff | Investment News Commonwealth Financial Network late Monday said it would stop offering commission-based products in IRAs and qualified retirement plans, making it the latest BD to move more decidedly toward to an advisory platform…

September 27, 2016

Securities America acquires another broker-dealer

Securities America acquires another broker-dealer Purchase of Wall Street Financial Group is the firm's ninth and second in as many months Sep 26, 2016 @ 9:36 am | By Bruce Kelly| Investment News For the second time in as many months, Securities America Inc. said it was acquiring the assets of another broker-dealer. Securities America,…

August 2, 2016

Erica McGinnis stepping down as CEO of Advisor Group

Erica McGinnis stepping down as CEO of Advisor Group Aug 1, 2016 @ 9:12 am | By Christine Idzelis | Investment News The broker-dealer network is seeking a new chief executive as Valerie Brown temporarily fills the role Erica McGinnis is stepping down from her role as president and chief executive officer of Advisor…