The Wells Fargo retirement plan paid more than fair market value for stock that diminished participants' savings when it was allocated to their accounts.
James K. Couture of Massachusetts pleaded guilty to four counts of wire fraud, four counts of aggravated identity theft, one count of investment adviser fraud and one count of witness tampering.
The firm failed to report positions to the Large Options Positions Reporting system in more than 7.4 million instances.
The record-keeping platform announced that it's releasing a third-party administrator partner product, Vestwell Flex, as well as a TPA portal.
A roundup of the week's fintech news includes Cetera's adoption of Broadridge's new digital communications tool, Orion's reorganization and Morningstar's attempt to make sustainable investing more engaging.
The firms managed private funds and fell short of custody compliance by failing to give investors audited financial statements about the funds.
The actions outlined in Finra settlement with Sanctuary predate Sanctuary’s acquisition of David A. Noyes, a company spokesperson notes.
Six long-time Merrill advisers in Oakland, California, and Savannah, Georgia, switch to LPL's employee unit, Linsco.
Broker and adviser standards of conduct differ in some respects but should result in the same outcome for investor protection, an agency official said.
Excessive trading in clients' accounts at Joseph Stone Capital occurred from January 2015 to June 2020, according to Finra.
In a speech, the SEC chair repeated his demand that crypto exchanges, brokers and attorneys in the digital coin industry comply with securities rules.
The Clemens McHugh Financial Consulting Group is joining the firm in Westlake, Ohio.
Direct Advisors of Latham, New York, specializes in serving nonunion construction companies.
Morgan Stanley at Work is rolling out a Corporate Retirement Portal to give its plan advisers a consolidated view of retirement data.
Widows and widowers can boost their survivor benefits by waiting until their full retirement age to claim.
CEO Patrick Mahoney hopes to work with the CFP Board and NAPFA in achieving legal protection for planning profession, even though it left the group over differences on the issue.
The investors cited a violation of Georgia's RICO law to boost their award against Oppenheimer.
The regulator says the New York-based firm failed to disclose conflicts of interest.
An attorney who formerly represented the TV talk show host claimed that Williams was 'left to die' by her adviser at Wells Fargo and her former business manager.
The move to provide guaranteed lifetime income products in defined-contribution plans will transform retirement planning.
