An adviser who became a client of Dynasty in 2012 has faced two separate series of actions in the past year, most recently a Wells notice from the SEC's California office. Bruce Kelly has the story.
The giant insurer is once again anointing a broker-dealer and registered investment adviser network with the AIG name and launching AIG Financial Network.
Newly listed American Realty Capital Healthcare Trust being snapped up by giant health care REIT Ventas in a stock and cash deal valued at $2.6 billion.
Broker-dealer using proceeds, in part, for pending acquisitions and possible new ones.
Firm to offer another way besides public listing for REIT sponsors to provide liquidity to investors.
Regulator wants clarity about Inland American's share value in recent buyback
The independent broker-dealer industry fattened up last year on the sale of nontraded real estate investment trusts. The question hanging over IBDs now is whether advisers are prudently reallocating the money of clients who are invested in nontraded REITs, particularly as the trusts continue to perform well and return capital to investors through listings or mergers.
Derek Bruton, in charge of the 13,600 reps and advisers at LPL Financial, has suddenly resigned. In an SEC filing, the company cited "concerns about Mr. Bruton's interactions with other employees."
LPL Financial has suffered a recruiting slowdown in the first quarter and puts part of the blame on an unusual factor — this winter's rough weather.
Products include nontraded REITs, oil and gas partnerships, BDCs, hedge funds and managed futures.
