Jeremy Carlson allegedly acted as an unregistered broker-dealer and salesperson, and engaged in fraudulent practices, according to the state's securities commissioner.
The firm rebranded its registered investment adviser, formerly known as Schwab Private Client Investment Advisory Inc., as Schwab Wealth Advisory Inc.
Meanwhile, Bank of America, like other large financial institutions that employ advisers, is facing regulatory scrutiny over employees' communications.
The recently announced merger of the Kingswood SPAC with broker-dealer aggregator Wentworth fell short of the Big Board's listing standards.
Annualized revenue per financial adviser increased at Wells Fargo Advisors, according to second-quarter earnings, even though the market tanked during the first half of this year.
The bank's wealth management division has added just one team of advisers since mid-April, but it continues to see growth in new customers.
Iqbal Khan, who had served as co-president of Global Wealth Management with Naratil, was promoted to president. Naureen Hassan will succeed Naratil as president of UBS Americas.
Broker-dealer aggregator Wentworth's deal to go public via SPAC Kingswood Acquisition Corp. raises a number of questions.
The attorney, John W. Pauciolo, provided the legal approval for years of commercials advertising the unregistered Par Funding investments.
Financial adviser moves are up 3.8% year over year through the first five months of the year but down when compared to their most recent high in 2019.
