"Monitoring officers incorrectly concluded, after only one minute, that there was no relationship between the customer and First Republic."
The Arizona-based firm charged an estimated 59 clients $1.3M more than they'd agreed to pay, according to an SEC complaint filed in court.
“You can’t put any language in an agreement that would prevent a client from reporting a broker-dealer’s actions," says one attorney.
A state law that prohibits business with financial service companies accused of boycotting the oil and gas business is unconstitutional, a business group suing the state says.
The wealth tech provider's new solution, built to work with its flagship ERP product, promises to boost family offices' efficiency by 2x to 4x.
Landmark settlement finds the retail investing platform violated consumer protection laws by falsely representing its trading and custody practices.
Be dubious about investment professionals who are marketing investments through an affinity group, one industry executive says.
The deal for the wealth tech platform will boost the firm's efforts to push its strategies more broadly among retail wealth advisors and their clients.
With nearly 25 years of experience, the employee-owned firm's latest hire in Fairfax reportedly managed over $293M in assets.
After the completion of its $2.7B take-private deal with GTCR, the fintech firm is looking forward to a new era of strategic expansion helmed by the former State Street leader.
A growing gap between clients' use of traditional deposit accounts and wealth management services hints at an untapped opportunity.
The federal securities regulator earns praise from industry groups as its legal battle for private fund disclosure requirements comes to an end.
"These types of brokers and executives are the scourge of the industry," said one plaintiff's attorney.
The new functionality, currently available on an invite-only basis, promises to help firms funnel leads to advisors and teams best suited to meet their needs.
The definitive agreement to acquire The Investment Center, based in New Jersey, will add 240 financial advisors into LPL's network.
The advisor lied to unsuspecting clients, including vulnerable retirees, for over 20 years to fund his gambling, cars, collectibles and other personal expenses.
The veteran closer and leader is expected to drive further growth as he brings a record of dealmaking success from Focus and Goldman Sachs.
Some customer complaints went unreported, and many mutual fund purchases were not reviewed, according to the self-regulatory organization.
"I have small firm roots, just look at my dad," Jodie Papike said.
Around half of the assets held by a private fund advised by the Florida-based firm were lost in 2022 amid the collapse of FTX, according to the SEC.
