RIA assets are key for broker-dealers right now.
"Semiliquid funds are making private markets more accessible but are much pricier than public market funds," according to Morningstar.
Northern Trust is "absolutely loaded with wealthy clients," one executive said.
The advisor, Andrew Nash of El Capitan Advisors, used the funds to buy a house, according to the SEC.
Mayer Brown, GWG's law firm, agreed to pay $30 million to resolve conflict of interest claims.
The giant clearing and custody firm doesn't want to ruffle any feathers of select clients, one executive said.
Counting advisor moves in and out of firms requires some art as well as science.
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
