Results for "registered investment advisers (RIA)"

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SEC charges $54 million Louisiana RIA and owners for cherry-picking scheme

September 20, 2018

The Securities and Exchange Commission on Thursday charged a Louisiana-based advisory firm and its two owners — a husband and wife — for defrauding clients via a cherry-picking scheme perpetuated over several years. World Tree Financial...

Creative Planning fined for failure to monitor radio ads and its president's personal accounts

September 19, 2018

The Securities and Exchange Commission issued a cease-and-desist order against Creative Planning Inc. for distributing radio advertisements with prohibited client testimonials. According to the Securities and Exchange Commission, the Kansas-based...

Captrust, prominent 401(k) advice firm, ramps up its wealth management business

September 17, 2018

Captrust Financial Advisors is a powerhouse in the realm of retirement plan advisers. However, the firm, which has $278 billion in client assets under advisement, is shifting to retail rather than institutional clients to drive its next phase...

401(k) adviser disclosures need an important update

September 17, 2018

A fiduciary serves a vital role in society. In the most basic form, a fiduciary is expected to make dispassionate decisions in the sole interest of the less informed. To serve in the role requires the fiduciary to embrace the twin duties of...

Better together? Why not all advisory teams are meant to go independent

September 17, 2018

For advisers who yearn for independence, going independent on their own can seem like the perfect solution. Advisers are attracted by the flexibility of the registered investment adviser model and the ability to serve their clients in a conflict-free...

LPL nabs $300 million firm from Cetera Financial

September 17, 2018

LPL Financial has recruited a $300 million advisory firm from Cetera Financial Group. Multop Financial, based in Bellingham, Wash., was founded in 1976 by Air Force veteran Phillip Multop. Today, the firm includes three financial advisers, three...

RIA charged for not disclosing commissions earned from selling risky tech stock

September 14, 2018

The Securities and Exchange Commission is charging an investment advisory firm with selling $13 million of high-risk securities to public school teachers without disclosing the exorbitant commissions the firm collected. A complaint filed Friday...

Larry Roth links consulting firm with Berkshire Global Advisors

September 12, 2018

Larry Roth, the former CEO of Cetera Financial Group and AIG Advisor Group who is now an industry consultant, has formed an alliance with middle-market investment bank Berkshire Global Advisors to help facilitate acquisition activity within...

Hurricane Florence will test limits of adviser contingency plans

September 12, 2018

As Hurricane Florence bears down on a large swath of the southeastern United States, financial advisers are heading for shelter and appreciating the increasingly virtual nature of the financial services industry. Jason Carroll, chief executive...

RMB Capital recruits $500 million team from Calamos Wealth Management

September 11, 2018

Chicago-based RMB Capital, a $9.3 billion advisory firm, has recruited a four-person team from Calamos Wealth Management. The team, which is based in the Chicago suburb of Oakbrook Terrace, touts a combined 80 years of industry experience and...

Raymond James nabs $203 million team from Morgan Stanley

September 11, 2018

O'Neill Wealth Management, a Mount Laurel, N.J.-based advisory firm with $203 million in client assets, has left Morgan Stanley to join Raymond James & Associates, the firm's employee broker-dealer. The advisory firm is comprised of a team of...

Captrust adds $427 million hybrid RIA

September 10, 2018

Captrust Financial Advisors has acquired Morton Wealth Management, a Greensboro, N.C.-based hybrid registered investment adviser with $427 million in client assets. Terms of the deal were not disclosed. Captrust added three advisers to its ranks...

SEC-registered advisers continue riding the fee-based wave

September 6, 2018

Wealthy clients may represent the crown jewel for financial advisers, but regular earners still make up the overwhelming majority of clients being served across the financial planning industry. According to the 2018 Evolution Revolution report,...

Financial adviser pleads guilty in NCAA basketball corruption case

September 5, 2018

A financial adviser involved in a wide-ranging college basketball corruption and bribery scandal pleaded guilty to three charges related to his efforts to bribe coaches who were then supposed to steer student-athletes toward his firm. Last September,...

Apex will soon custody cryptocurrency assets

September 4, 2018

Brokers working with Apex Clearing will soon be to offer clients cryptocurrencies alongside traditional assets. Apex Crypto, which is launching in the fourth quarter, gives firms using Apex for custody and clearing the ability to open a client...

Live Oak Bank starts its own RIA

September 4, 2018

Live Oak Bank, a 10-year-old bank that specializes in making loans to niche industries, including registered investment advisers, has launched its own RIA. Live Oak Private Wealth, housed on the bank's main campus in Wilmington, N.C., will operate...

With history as a guide, September puts advisers on notice

September 4, 2018

With summer technically over, the financial markets roll into the dreaded month of September, which leads up to the contentious midterm election season that has financial advisers paying extra-close attention to client portfolios. "I'm not worried,...

Securities America snags $650 million hybrid from LPL

September 4, 2018

A $650 million hybrid has left LPL Financial to join Securities America, a subsidiary of Ladenburg Thalmann Financial Services Inc. Patriot Financial Group, which is also a super office of supervisory jurisdiction, is led by David O'Donnell,...

Ken Fisher, famous annuity hater, invested in annuity companies

August 31, 2018

Ken Fisher, founder and executive chairman of Fisher Investments, has been an ardent critic of annuities for years. In fact, Mr. Fisher's vitriol toward annuities is probably one of his most identifiable characteristics in the public sphere....

Wells Fargo to combine bank and wirehouse reps under one roof

August 30, 2018

Wells Fargo & Co. has unveiled the first phase of a $4 billion cost-cutting plan that will fold its bank brokerage channel into the larger wirehouse channel, according to an internal memo obtained by InvestmentNews. The memo from Jon Weiss,...

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