He calls about once a year when some mishap with the broker dealer
motivates him to explore broker dealer
options that will resolve his ongoing issues.
twentieth century, both broker dealers
and regulators viewed the
In order to meet those demands, it was critical that we create a registered broker dealer
However, if you leave during the seven-year period, you will owe a portion of the bonus back to the broker dealer
and had served as the chief of Broker Dealer
Operations with NYLIFE Securities.
said Investment Advisor magazine named it 2015 broker dealer
of the year in division I, representing firms with up to 199 producing advisors.
My comment to him was that he was no longer with a 1,000-advisor BD but was now a rep of a 5,000-advisor broker dealer
(the grouping of BDs).
Founded in 1989 in New York City, Northeast Securities is a prominent US independent broker dealer
with over USD 5.5bn in customer assets, servicing domestic and international clients.
His articles have appeared in the major industry publications, including Broker Dealer
Journal, Producers Web, Investment Advisor and Broker World.
As we saw in the fourth quarter of 2015, of the 53 broker dealer
closings, 37 of those firms had fewer than 10 reps.
(84) Because broker dealers
in particular would be unfamiliar with the fiduciary standard, the SEC "Staff believes that the Commission should help broker-dealers identify their conflicts of interest ...
Use of Finders and Solicitors: The Commission should review the use of finders and solicitors by investment advisers and broker dealers
and consider whether to provide additional guidance or harmonize existing regulatory requirements to address the status of finders and solicitors and their respective relevant disclosure requirements to assure that retail customers better understand the conflicts associated with the solicitor's and finder's receipt of compensation for sending a retail customer to an adviser or broker-dealer.
Continuing education requirements, such as those required of broker dealers
and their employees, also would be imposed to ensure continued familiarity with industry practices, securities issues, and regulatory requirements.
GFOA strongly supported passage of the 1993 amendments, which came about as a result of the egregious sales practices of broker dealers
and the losses suffered by state and local communities, as well as savings and loans and thrift institutions.
If the uniform fiduciary standard pushes through, we may be looking at an increase in sales of insurance-company-owned broker dealers