The award is another loss for the firm in a case involving a Ponzi scheme that was run from an Oppenheimer branch office in Atlanta by former broker John J. Woods.
Envestnet reported revenue of $298.71 million for the first quarter, down 7.1% from the same period last year.
AmeriFlex Premier+ will allow advisory firm clients to look at possible future outcomes that could result from their planning decisions.
The North Dakota firm and one of its advisors didn't understand the risks associated with the complex products and failed to determine whether they were in clients' best interests, the agency says.
Brokerages suffered financially during the market downturn last year, with net income and revenue falling sharply in 2022.
The company, which self-reported the issue, signed separate consent orders with Finra and the New Hampshire Bureau of Securities Regulation.
JPMorgan now says there were 229 financial advisors in First Republic's wealth management unit when it acquired the bank earlier this week, up from the 150 total its CFO cited Monday.
With investors seeking to lock in favorable payout rates before they begin to fall, the survey showed the income annuity market enjoying its highest quarterly sales ever, topping $4.1 billion.
Thomas Reynolds and Kathleen Gfrorer of Oakbrook-based Landmark Capital are closing their RIA to join LPL’s corporate RIA.
The study showed two-thirds of small businesses without a retirement plan say they are 'highly likely' to offer one, but only 49% have made moves to do so.
InvestmentNews Research identifies the independent broker-dealers whose reps took home the highest average payouts last year.
The Fed raised interest rates by a quarter percentage point Wednesday, but the FOMC statement no longer included a line about anticipating 'additional policy firming.'
The law is the 'farthest-reaching' of the actions various states have taken to restrict the use of environmental, social and governance considerations.
Hedge funds with at least $1.5 billion in assets now have to report significant investment losses and withdrawals to the SEC within 72 hours.
Several states will once again be pressing for the establishment of new state-run auto-IRA programs during their legislative sessions this year.
The pace and breadth of the agency's current rulemaking is not allowing for constructive criticism from the people implementing the rules.
Nate Carlon is based in Scottsdale, Arizona, and operates as Carlon Wealth Advisors.
Politicians' manufactured controversies are having minimal impact in boardrooms.
The firm disclosed the investigations last year, and said it faces potential civil liability from allegations that it caused stock prices to drop before completing a block trade.
Independent broker-dealers managed to overcome the stock market’s slide last year with help from rising rates. Here’s a list of the firms that grew most rapidly.
