"We're seeing more instances of clients being switched out of annuities," says one plaintiff's attorney.
Giant firms may be shunning public markets – but they are exploring other sources of capital, including going private or selling minority stakes to emerging sovereign wealth funds.
"If they do something quickly to stabilize the firm they should be fine," one industry executive said about B. Riley Financial.
"I think we’re gearing up to really grow very aggressively in the coming 15 months," says CEO Peter Mallouk.
Broker-dealers are particularly interest rate sensitive companies.
The advisor "converted approximately $9,000 of chapter funds for his personal use," according to Finra.
It's unusual for brokerage chiefs or senior officers to admit any shortcomings in their operations.
It's not clear why Jen Roche left Osaic.
The activity at Osaic comes as the wealth management market waits to see if an IPO is in the firm's future.
Meanwhile, Wells Fargo is attempting to close the books on the SEC's investigation.
