There were a record 52 mergers or acquisitions involving RIAs in the second quarter, up from a previous high of 49 in the first quarter of the year, according to Echelon Partners.
J.D. Power's 2019 Financial Advisor Satisfaction Survey found Commonwealth Financial was the top-ranked firm for satisfaction among independent advisors, while Edward Jones took the top spot for employee advisors.
The Financial Planning Association, whose membership includes thousands of CFPs, wants the CFP Board to delay enforcement to coincide with new SEC rules.
Model FA's new site includes a blog and podcast series with financial planners and experts on how to build and thrive as independent advisor or firm in the industry.
The advisors argued the firm had reported 'inaccurate' information on their CRDs, making it difficult for them to find new work in the industry.
Perhaps unsurprisingly brokers are choosing to start or join RIAs because they want more control and better compensation.
In a letter Tuesday, the American Securities Association accused the CFP Board of subverting the SEC's authority.
Daryl Davis also told a potential client his firm was registered with the SEC when it was not, according to the charges.
Summit Brokerage Services will pay more than $550,000 in restitutions to clients who suffered losses, according to the FINRA action.
