Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.
Meanwhile, the bank is also investing in technology for its financial advisors in the United States.
The brokerage industry regulator once again takes a stab at updating rules for independent brokers with other businesses and jobs
Miles Marshall was "the proverbial big fish in a small pond," according to one attorney.
However, in its note, Citi Research did not cite a direct competitor making inroads in hiring Commonwealth advisors.
Financial advisors live in fear of a large firm dirtying their work histories after they leave a firm.
LifeMark Securities has faced scrutiny in the past for its sales of GWG L bonds.
LPL has closed 56 deals in its succession program, using $690 million of capital, according to William Blair analyst Jeff Schmitt.
"We think this happened because of Anderson's age and that he was possibly leaving," said the advisor's attorney.
Michael Bradley faces allegations of "improper recommendation to clients" who bought GPB securities.
