No clear value to GPB securities puts them at odds with firm's policy over alternative investments.
Broker Patrick Foley failed to show up last month for testimony before Finra.
Jones has seen $18 million of client assets move to a rival brokerage firm.
The decision by the Luminous team to leave First Republic could have far-reaching repercussions for the entire advice industry.
Andy Saperstein expects some teams to reach $100 million in annual revenue in the future.
CFP Board's updated code of ethics and standards goes live in October.
In the wake of its sale, the IBD network will provide update to advisers in 20 cities.
This time, the managers are combining four nontraded BDCs into one $9 billion company.
The four advisers are setting up two separate RIAs.
The broker, David Strnad, "exceeded the scope of his authority" when he made the trades, according to Finra.
