Stifel this fall lost a stunning $14.2 million arbitration claim linked to Chuck Roberts.
The companies admitted the SEC's findings and made remedial efforts to fix their "blue sheet" transaction reporting, the regulator said.
Finra orders on Friday noted that the companies proactively corrected errors following exams in 2020 that found customers were not properly given rights of reinstatement for mutual fund share purchases.
The elite veteran-led team brings together more than 150 years of collective experience to RayJay's employee advisor arm in Ohio.
For more than a decade, Raymond James has been one of the most aggressive firms to hire financial advisors from competitors.
The firm's longtime leader of corporate strategy will also spearhead efforts to reshape its models for independent advisors and other channels while reimagining its business services offerings.
FiNet is the independent broker-dealer arm of Wells Fargo Advisors.
Western International Securities was acquired by LPL this year.
The firms are extending their footprints with new recruitment moves in Arizona, Massachusetts, and Florida.
While RayJay boosts its presence in Utah with its latest employee advisor additions, LPL is strengthening its ranks in the Northeast.
“Private credit and infrastructure remain attractive," LPL said.
David Underwood sold unregistered Heartland fund securities to 20 clients, including his wife, according to the SEC.
“Professional conduct is one of those key issues a board has a responsibility to measuring and understanding,” one senior industry executive said.
LPL's former CEO Dan Arnold this summer said it was parting ways with two large hybrids.
The firm's first-ever financial advisor in New York City, Stu Berrin brings over 30 years of industry experience to his new role as managing director and partner.
The newest additions to the broker-dealer giant's network previously managed a collective $750 million in client assets at their former firms.
"The company has reached new highs by every measure under his leadership,” one recruiter said.
“This is progress for GPB investors and their financial advisors," said one senior brokerage executive.
After a years-long period of growth, the Arizona-based boomerang advisor based in Arizona is "coming home" to the broker-dealer giant.
A veteran of Paypal, the broker-dealer giant's latest executive appointment brings a track record of building industry-leading security solutions.
