Regulator prepares proposal after May complaint against David Lerner Associates; time it takes to get market valuations not up to par
Another troubled broker-dealer is closing, but with a twist: The firm is telling its advisers to move en masse to another firm.
After avoiding the pitfalls of disastrous Regulation D deals during the past decade, Commonwealth Financial Network and LPL Financial LLC are contending with potential fallout from a real estate private placement that faces pressure from its creditors.
WFP Secruties is the latest broker-dealer to fold under the weight of private-placement litigation. In this case, the San Diego-based firm is facing $14M in legal claims.
Wells Fargo and BNY Mellon — trustees for Medical Capital Holdings — claim that brokers should not have sold the MedCap private placement to clients. Meanwhile, the banks themselves face litigation stemming from the Reg D offering.
Wells II securities issued at $10 apiece, now worth an estimated $7.47; pricing of nontraded real estate trusts under the microscope
In the latest twist in the ongoing saga of Apple REITs sold by David Lerner Associates, plaintiffs claim the B-D used a line of credit and other sources to boost dividend payments beyond what was prudent. | <b>Extra</b> <a href=http://www.investmentnews.com/apps/pbcs.dll/gallery?Site=CI&Date=20110826&Category=FREE&ArtNo=826009999&Ref=PH>Home prices still plunging in these states</a>
A source says Adam Bold is seeking a buyer for The Mutual Fund Store, the RIA he founded. But Mr. Bold told a local Kansas City newspaper the firm is not on the block. | <a href=http://www.investmentnews.com/apps/pbcs.dll/section?category=datajoe&djoPage=summary&djoProjStr=22974|22989&issuedate=20110529&sid=RIA0529>The top fee-only RIAs</a>
Adviser Jim Ehrenkrook believes that investing in oil and gas is crucial to clients' portfolio performance
A year after pulling off the high-profile acquisition of a leading network of independent broker-dealers, Lightyear Capital LLC, which is controlled by former PaineWebber chief executive and chairman Donald Marron, is back in the market looking to raise more than $1 billion from investors.
