For a second time, the Financial Industry Regulatory Authority Inc. has censured and fined Cambridge Investment Research over problems with its supervision of sales of unit investment trusts (UITs).
Finra imposed a fine of $150,000 for failing to “establish and maintain a supervisory system,” failing to reasonably supervise short-term trading of UITs and mutual fund Class A shares, and failing to ensure that customers received available mutual fund break-point discounts. The fine and censure covered the period between July 2013 and January 2017.
In April 2015, Cambridge entered into a letter of acceptance, waiver and consent with Finra in which it agreed to a censure and fine of $250,000 for failing to apply “rollover” and exchange discounts to customers with eligible UIT purchases between January 2008 and November 2013.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
