National Securities Corp. sued the advisor in 2020, alleging breach of contract and unjust enrichment.
The clearing and custody giant is kicking the tires on new cash sweep plan with broker-dealer clients.
UBS is looking to boost the firm’s bottom line even as some financial advisors search for greener pastures.
Alternatives are quickly becoming a mainstream allocation in wealth management.
“Bryant Riley’s strength is that he’s an amazing dealmaker and originator,” an industry executive said.
The traditional asset-based fee advisors charge clients "is going by the wayside," one executive said.
The state's order is a step in negotiating a potential fine with the firm.
The advisor “failed to disclose multiple conflicts of interest and misappropriated client assets," the SEC said.
More than 37 percent of financial advisors who custody assets with Schwab use alternatives.
Private equity money is contributing to the good times for RIA owners.
