Industry

CEO Shirl Penney expects his independent advisor services platform to reach its goal by Independence Day of next year, and he still has plans to take the company public.

Prospera Financial Services has formalized its suite of succession planning resources to help older advisors monetize their businesses and younger advisors acquire practices or become successors.

The new program was developed in collaboration with retirement services provider Empower, and should be available “within the next quarter or two.”

Financial firms are continuing to reduce headcount in response to mounting economic and geopolitical uncertainties, higher rates and a slower pace of dealmaking.

Saas veteran Dan Zitting will succeed Klein on Dec. 4, in a change that had been in the works for several months.

Haywood USA failed to do due diligence for approximately 134 sales recommendations of private placement offerings totaling nearly $11 million, breaking FINRA rules and violating the SEC's care obligations.

The news comes as Avantax faces three lawsuits and "multiple" demand letters from stockholders asking the company for additional financial disclosures.

Convergence and the growth of new plans are beyond what RPAs can handle.

The seventh breakaway advisor to join Snowden Lane this year, William “Trey” Jones III managed $230 million at Merrill Lynch.

On an earnings call this week, CEO Kurt MacAlpine said to expect more acquisitions at a less frenzied pace than past years as the company continues to pay down debt.