Diana Britton

Stifel and BMO will pay $2.7 million and $1.95 million, respectively, in penalties.

FINRA claims the firm was late an average two years in disclosing 89 internal reviews or allegations of misconduct over a six-year period.

The unit, aimed squarely at fee-based advisors, has hired former WisdomTree exec Geoff Hunter as vice president, relationship director and investment specialist.

Registered investment advisors added nearly 30,000 nonclerical employees in the last year, up 16% over the past five years.

If the latest lawsuits challenging Reg BI are successful, that could send the Department of Labor back to the drawing board in its effort to recraft a fiduciary rule for ERISA accounts.

The agency will revisit its 'rules that were adopted in the absence of a best interest standard,' said FINRA head Robert Cook.

Attorneys general from seven states, including New York and California, along with the District of Columbia, argue that the SEC's rule doesn't protect investors as mandated under Dodd-Frank.

Blucora’s combining its broker/dealers under the newly formed Avantax Wealth Management, in an effort to emphasize its 4,200 advisors’ tax specialty.