The firm was fined $210,000 for falling short on its supervision of short-term mutual fund trades, the regulator said.
Raymond James and LPL both report higher levels of assets for last month following the market's rough first half.
'This is where investors want to be putting cash to work,' said Andy Sieg, president of Merrill Lynch Wealth Management.
The brokerage firm's in-house energy fund, Energy 11 L.P., reports $45 million in 'unpaid distributions' to investors.
The wave of IPOs among mega RIAs has been building for years, but some in the industry wonder how many firms can weather the challenges of being a public company.
Eric Noll, the CEO of Context Capital Partners, first joined the Finra board in August 2020.
As large broker-dealers look to play in the red-hot mergers and acquisitions market for RIAs, Advisor Group is investing along with its owner, Reverence Capital, in RIA Signature Estate & Investment Advisors.
Private equity investors have flooded the wealth management industry; now, it's a hedge fund's turn.
The S&P 500 was down almost 21% over the first six months of the year, but financial advisers at big firms didn't crash and burn.
One adviser faces charges of dealing in child pornography, according to the Certified Financial Planner Board of Standards Inc.
