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Mercer Buys Two RIAs with a Combined $1.6 Billion AUM

Mercer Global Advisors Inc., a registered investment adviser, has acquired McGee Wealth Management Inc., a firm located in Portland, Oregon with approximately $815 million...

LPL Financial Recruits Former Kestra Team

LPL Financial LLC, the nation’s largest independent broker-dealer, has added Florida-based FDR Financial Group Inc. to its broker-dealer and corporate RIA platforms, leveraging LPL...

LPL Financial Recruits Financial Advisor from J.P. Morgan Securities

LPL Financial LLC, the nation’s largest independent broker-dealer, has added financial advisor Bryan Schneider to its broker-dealer and corporate RIA platforms, leveraging LPL as...

SEC Adopts Modernized Marketing Rule for RIAs

The Securities and Exchange Commission has finalized reforms under the Investment Advisers Act to modernize rules that govern investment adviser advertisements and payments to...

FINRA Suspends and Fines Former Broker for Borrowing Money from Client

The Financial Industry Regulatory Authority has fined and suspended former broker Kim Millman for borrowing $6,000 from a client and failing to disclose six...

Raymond James to Buy $35 Billion Retirement Plan Administrator

Raymond James Financial Inc. (NYSE: RJF), a financial services company, has agreed to purchase NWPS Holdings Inc., doing business as NWPS and Northwest Plan...

LPL Financial Recruits Advisor from Wells Fargo

LPL Financial LLC, the nation’s largest independent broker-dealer, has added financial advisor Joe Mastroianni to its broker-dealer and corporate RIA platform. He is aligned...

LPL Recruits $900 Million Team from Cambridge

LPL Financial, the nation’s largest independent broker-dealer, has added Albany, New York-based Rosemont Financial Group to its broker-dealer and corporate RIA platforms. The advisors...

LPL Financial to Buy Waddell & Reed’s Wealth Management Business

LPL Financial, the nation’s largest independent broker-dealer, has entered into an agreement with Macquarie Asset Management to buy the wealth management business of Waddell...

Thrivent Hires Former LPL Exec as Senior Business Development Officer

Thrivent Advisor Network, a registered investment advisor, has hired industry veteran Gary Foster as senior business development officer. For the last 15 years of his...